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Thread: Which analysis is the most applicable one for trading on cryptocurrencies - technical or fundamental

  1. #1
    Super Moderator Gulfstream's Avatar
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    Question Which analysis is the most applicable one for trading on cryptocurrencies - technical or fundamental

    Cryptocurrency is a unique trading instrument. It doesn't depend on the economy of any country or world economy in general. Probably, the connection between cryptocurrency and economy exists, but it's a very weak connection. As a rule, the fundamental factors are based on fake rumors or news, the authority of their sources are doubtful. At the same time, charts of many crypto-currencies quite clearly "draw" the levels of support and resistance, and quite logically move in accordance with them. Thus, technical analysis may well be applicable to successful trading. However, there are different opinions. Which analysis is the most applicable one for trading on cryptocurrencies - technical or fundamental? Let's discuss.

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  2. #11
    Trader xauyuro's Avatar
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    Quote Originally Posted by Gulfstream View Post
    Cryptocurrency is a unique trading instrument. It doesn't depend on the economy of any country or world economy in general. Probably, the connection between cryptocurrency and economy exists, but it's a very weak connection. As a rule, the fundamental factors are based on fake rumors or news, the authority of their sources are doubtful. At the same time, charts of many crypto-currencies quite clearly "draw" the levels of support and resistance, and quite logically move in accordance with them. Thus, technical analysis may well be applicable to successful trading. However, there are different opinions. Which analysis is the most applicable one for trading on cryptocurrencies - technical or fundamental? Let's discuss.

    in this case I do not believe that the price movement of bitcoin is also influenced by fundamental factors such as the economic, political and security conditions of the country concerned. now I still think the popularity of bitcoin is just uforia for its emergence as an alternative transaction tool.
    even though the price has soared but no one has predicted what else to make sure the price will continue to rise or fall and even become worthless.

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