With the bitcoin news every turn you make and cryptocurrency market constantly fluctuating it has become more than the elusive, digital currency. It has become an aggregate of the experienced traders. While many novices are jumping in to make their fortune it often doesn't work out that way.
With the amount of money being made it is very hard to ignore. How can the inexperienced trader understand the market well enough to step in the ring? Well, Coinbase decided not only to answer that question, they decided to do sstrategyomething about it.
Coinbase is a platform for buying, selling and storing cryptocurrency such as bitcoin, bitcoin btf ethereum. With a user friendly platform getting attention from many inventors of all types. Those who have barley a single crypto transaction to the top 10% of worldwide investors. While those in the top percentile seem to make consistently "lucky" decisions and keep their vaults filled, those new to this have to ride the roller coaster of inexperience. Well, Coinbase may have changed that.
Meet the new Coinbase Trading Signals. Three tools that are always watching the markets, crunch the numbers and provide you with valuable information.
The Top Holder Activity Signal: This signal is aimed at the top 10% investors on the market. It anonymously collects the data of what they bought and sold in the past 24 hours. Updated every 2 hours you can count on the fact that the information is current.
Typical Hold Time & Popularity On Coinbase: This signal collects information and gives you the median days of how long particular coins were kept in accounts or vaults and also showing you the amount of time particular cryptocurrency is being kept.
Price Correlation: Relative to each cryptocurrency, the price correlation signal compares how the price of each currency moves. Coinbase has made it easy to understand with their correlation concept. Which way they are moving is shown with either high or low correlation. High correlation means that the currencies moved in the opposite direction where as low means they moved in the same.
The questions, the answers
What does this mean for the beginner investors? Can they someday join the top 10%, the elite? It's hard to gauge but there are many pros about these new signals. Besides watching the market 7/24 they can simplify trading, let you pay attention to more strategy, cut down risk and you can learn much more about the market.
There are a few factors that have some people staying old school. Many trading signals email you the information and it's possible not always legit. If a scammer email you he can get you to reveal sensitive information. Another one is the cost. They are usually expensive and when they are extremely cheap red flags go up.
What to do now
There are so many factors when it comes to investing anything. When you add a currency with slightly confusing connotations it gets even harder to grasp. Stock brokers decipher wall street for their clients and they have helped thousands of people. Data is deciphered and catalogued and advice is given to us. Are these so different? It's not for me to say. These data crunching programs have answers that I don't. Give it a shot, what do you have to lose?