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PROFITABLE CRYPTOCURRENCY TRADING ............Secrets for Making the Right Picks!

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Bitcoin is the first and most popular and widely adopted cryptocurrency. Its trading as a business in relatively new but is consistently gaining recognition and acceptance. It was a 'foreign' word ten years ago, but today, there are about 800 different currencies with more than 20 Exchanges generating a turnover of over $100 billion USD.
It is highly unpredictable for even the most experienced of trader to maintain daily profitability, though over time many of the coins will rebound in price and become profitable. Having said that, the best time to take precaution is before placing buy orders. Most coins are backed by their solution propositions i.e the solution they provide, while many have no clear solution they seem to provide beyond their being traded in the exchanges.
Understanding the Nature of the Crypto Market
The first and most important thing you need to know about bitcoin is that people aren’t really treating it as a currency right now. Beyond Bitcoin, only a few other cryptos are widely accepted for transaction settlement as many of them are not meant for payment settlement. Ethereum, Ripple and many others have specific IT solutions they provide and in line with their acceptance and adoption, their prices soar in the exchanges, while those without serious solution contents could remain low and down for years,
Many established coins have million and billions of coin already in circulation, while few coins have limited number of units it is allowed to produce or mine and in the market where the forces of demand and supply reign, currencies with billions in circulation will always have a lower price and vice versa.  This is one thing going for Bitcoin, it has limited quantity of coins to obtain and that is it. Another thing going for Bitcoin is that it was created as an alternative currency specifically for settlement of transactions and it has functioned as such ever since, hence its popularity. 
However, most investors aren’t treating bitcoin as a currency: they’re treating it as a financial commodity that might provide a return on investment.
The value of bitcoin comes from its potential uses. Bitcoin completely bypasses traditional banking institutions. It removes third parties – with all their fees and slowdowns – from the financial system. It broadcasts transactions to the network (the blockchain) in a transparent way.  Like many unknown commodities, bitcoin is subject to price volatility. Some investors see this as an opportunity, while risk-averse investors want to stay away.
Bitcoin doesn’t have the fundamentals that investors typically use to analyze an asset. Most stocks or bonds can be analyzed based on some trait of the instrument. Stocks have P/E ratios and dividends, for example, while bonds have return percentages. Bitcoin has no fundamentals that can be easily measured. 
Cryptocurrency trading is very volatile and risky for many who are inpatient, though it has the potential for high yield and return. It also have a unique characteristic like the 24/7 trading on the exchanges across the world. Some companies will lure in newbie investors with promises of doubling their bitcoins in 90 days. In reality, automated bitcoin traders shouldn’t guarantee any profits.  
And whether you’re a professional trader or not, you must know about the pairing of currencies in the exchanges which has influence on their market price. When you are picking currencies, you need to consider their pair and the strength of currencies you are picking as well as their pair partners. Picking currencies based on emotional sentiment or uncertern patterns could be very fatal and this is why many traders lose money and give up within a year.
New traders must exercise caution with their first pick. They are advised to start their investment in cryptocurrencies with less than $100 investment. This will allow them to gain some understanding of the market and the exchange rules before they increase their stake.
However, you can earn consistent profitability – even in markets as unpredictable and volatile as cryptocurrencies, if you are disciplined in your picking using a well defined strategy and continuous market research.

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