- cryptocurrency news – how do they influence the price?
1.1. what to read?
1.2. does it help?
1.3. how to manage with the trades?
The News Factor
Recently, we have seen a roller-coaster ride of prices on cryptocurrencies and the result was usually a sharp shift towards profits for Bitcoin holders. Whether the entire cryptocurrency thing is a fad, hype or a massive bubble waiting to burst is a question up for debate as those who hold cryptocurrencies are deaf to skeptics. The question as to what really influences the price of cryptocurrencies is up in the air, but there are several factors.
The news is a massive shifter of opinions nowadays, both in economics and in politics. One can call it even insider trading on some level, but the reality is that even gossip or rumors have been known to toss crypto prices about like an eggshell on Atlantic waves. There have always been those who seek to profit from the power of media and there is no exception of the fact that influential individuals within the industry skillfully pick out moments to inject rumors or speculation on the market to cash out before or after the intended effect has taken place.’
There are several reliable sources of news on cryptos and those include the CCN or CryptoCoinsNews, CoinDesk and Cointelegraph. These are seen as the most reliable and verified sources of news, however, they are also subject to subjective opinions as they gather most of their material from live feeds, such as forums and press conferences.
The question again is whether to trust news at all. Considering that the crypto market is in constant evolution, living under a rock and in total isolation, hoping to cash in via telepathy or relying on sheer, supernatural intuition is just not going to work. The only real advice that can be given in regard to news is using personal intuition and sound thinking to filter out the rubbish and noise that makes reliable information seem like food for speculation and conspiracy theories.
All of the above ends up in the bottom line of trading and the cash that it generates. There is no reliable way known to man or science that can deduct a perfect formula of managing trade with cryptos, as it is a combination of several unknown factors, all of which are bottom-lined by the big question of whether hype is the only true factor driving crypto prices.
Though the crypto market is still relatively new and lacks many of the traditional institutions of a civilized market, there are projects on the market that seek to indemnify or mitigate the associated risks that investors take when deciding to invest in projects. Cryptics is one such project that seeks to offer the necessary instruments for alleviating the situation with uncertainty. The concept behind it is to support market participants by providing liquidity on exchanges and a safety cushion for retail investors by creating a platform that connects market players and develops algorithms to predict changes in the value of cryptocurrencies. Such instruments based on highly advanced scoring models involving machine learning and AI are incomparable with human intuition that even the luckiest and most prudent investors could ever be endowed with. The multitude of factors involved in predicting a cryptocurrency’s rise or fall are all taken into account by the algorithms that Cryptics employs. Investors should consult such projects as the expense is well worth the ensured profit and peace of mind.