Episode Highlights:

  • 00:03 – Effects Of China Bans
  • 01:37 – Bitcoin Founders Take
  • 03:42 – You’ve Got To Be Expecting
  • 04:30 – Looking At Coinigy
  • 06:42 – Watching The Numbers
  • 08:07 – Don’t Worry About China’s Ban

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Hey guys Crypto Camacho its Dan here.

00:03 – Effects Of China Bans

Hey there’s some news floating around that’s hit the media yesterday, today and being touted as the hugest deal ever and what it is; isBloomberg recently reported that China will bebanning crypto currency exchanges movingforward so China has already banned ICOs initial coin offerings, they bannedthose like a week or two ago now it’s coming out that China is going to be banning all cryptocurrency exchanges inChina. Well wow that is not a big deal you knowwhy because look at the price of Bitcoin look at the price of ethereum today they’re not going far down I mean they’ve dropped a little bit but they’re not going to gothat far down. Ithink that tells us something that tells us that there is still a huge, huge, huge amount of support for Bitcoin and other cryptocurrencies, it tells us thatthere’s a huge support ingiving China the finger when they saywe’re going to ban ICOs we’re going to banexchanges blah, blah.It tells youthat crypto currencies are strongregardless of what China does, regardlessof what nations do, what governments do, it doesn’t matter; Bitcoin cryptocurrency blockchain it’s here to stay forever, it’s here to stay and thefact that everybody’s kind of preachingthis doom and gloom a Bitcoin or crypto currency because of the news, because countries are banning this stuff that’s expected that’s going to happen. It’s going to happen more, it’s going to happenin many countries, it may happen in the US we don’t really know.

01:37 – Bitcoin Founders Take

The founders of Bitcoin the people thatcreated Bitcoin, Satoshi Nakamoto andothers, they expected this; they expectedgovernments would get involved, they expected governments wouldn’t be toohappy about Bitcoin, about othercryptocurrencies, about subverting orbypassing the US dollar and other fiatcurrencies systems that are already in place. That’s why Bitcoinwas really invented was to kind ofcircumvent all of these differentinstitutions so that there was no central authority regulating, monitoring, adjusting monetary policy andfiat currencies right. There’s no manipulatewith Bitcoin so the fact that China cameout today and said hey we’re going bancrypto currencies- not a big deal to me! I mean it may be causing dip in the market and may go down further theremay be a larger correction- I think thatis very likely to happen that eventuallythere will be a large correctionright, larger than when we’ve seen in recent months.

In recent months there’s been a crash to like 3,000 but there could be abigger correction than that but what is, that is a buying opportunity aslong as there is a strong enough base onthe bottom, a strong enough base of usersthat fully believe and are confident incrypto currencies and in Bitcoin as aconcept it’s not going to go anywhere. The value of Bitcoin is tied to theconfidence of the people that use it, that believe in it that feel itwill succeed and I have faith in the system as a whole. That’s howmonetary systems work, that’s how thedollar works is how fiat currencies workas well.Don’t take this as you know aterrible sign that China is announcingthis although do be prepared ifthere are depths, be preparedto trade on those, be prepared to buy those. I’d recommend you don’t keep all of your money in Bitcoin orother altcoins that you keep it in USDfiat as well so that if there is abig correction you can buy onthe downtrend or the spike there.

03:42 –You’ve Got To Be Expecting

So anyway, hopefully that was helpful, I guess the biggest takeaway is reallythat this stuff is expected, expect thisstuff to happen if you’re going to get intoday trading, if you’re going to get intocrypto currency trading you got to beexpecting this kind of news, you gotto be expecting the depths, you got to be expecting bad news, you got to be expecting good news, that’s where the volatility comes in.That’s whythere is volatility because there’s allthis news, there’s all these unknowns, we’re in the Wild West and it’sstill really unknown or uncertain what’sgoing happen to Bitcoin and where it’sgoing go, but that’s where the opportunity is buy on the lows sell onthe highs; when there’s bad news peoplereact, people’s emotions run wild, peoplestart selling, they go crazy, the markets tanked and then just as quickly as they tanked they go back up the shoot up and I’m going to show you an example of that right now.

04:30 –Looking At Coinigy

So let’s jump over to Coinigy here I did a few days ago so let’s nottalk about this one right here, but I didmake very good profits right here and Iwas super excited about that.Let’s focuson this right here because this is anactive trade that I have going on nowand I’m not sure how it’s going to turn outexactly.But if you notice I bought whenthe bass cracked again right this wasthe last bass I’d bought when it crackedbar right here and I bought again. Itried to buy a little bit lower than butit couldn’t actually get in more buys Iput in by after Buy and I just couldn’tget the buy, I just I couldn’t get itexecuted so what I did though againthere’s a strong base right here lots ofsupport right no matter if you go backfurther and further you’ll see thestrong support right here and so that’swhere I marked my base is right wherethat big strong support is right here; oh that’s a terrible line let me do a different one right here and that’s where I bought rent.So Icould have waited till the base is right here, I probably could have, Iprobably shouldn’t right and I probablywill buy if it goes below here but fornow I just wanted to make a quick trade quick profits and that’s exactly what Idid because I knew that it was going to crack the base and I knew it was going to go right back up.

If you zoom in onthis I’ve already made- gosh whatpercentage is this it’s a I sold it, I made about ten percent about ten and ahalf percent right and so let me zoomout on this a little bit here so I madeten and a half percent already today I’mnot sure how this is going go but I dostill think it’s going to go up a bithigher so I haven’t sold everything. I did make two sales; so I sold most ofmy position and I made ten percent whichis exactly; was actually aiming for six percent on thisone because it’s a pretty large trade but Ihad ten percent so I’m really really happy about that. All I did is Ifollowed the base training rules thatI’ve shown you in previous videos here and it’s worked.If you look at thebig picture here and why I’m waiting whyI’m not selling all of my position right here it’s because look back let me zoom back out here for the last hike at least amonth let’s say, prices have been goingback up very high it’s like-at least 25-26 that’s kind of the top25-26 right here.

06:42 –Watching The Numbers

In recent weeksit’s been a little bit lower top of 24 butits still good right I’mall the way down here bought of 18 bought it 18 and 19 right down here so if it goes anywhereup to 20 and beyond. I’m super happy that goes up to 23 2425- anywhere in here I’m super super happy. So I’m waiting it out a little bit and you can even zoom back farther andwe’re really at a low point here eversince there was big support way backhere in- gosh this is like June time forhim there was a big spike up and theprice kind of jumped and then itstabilized back down here around the 20sthere’s been this constant tread of upand down up and down up and down and so I don’t expect it to go away quite yetit will eventually go away. But in themeantime I’m going profit on it, everytime it drops I’m going buy, every timeit goes up I’m going sound I’m going repeat the process over and over and over and I’m using my tracker that Ishowed you in a previous video to dothis.Every day I’m making anincremental profit right of anywherebetween five and fifteen percent- sometimes twenty percent sometimes morebut I’m aiming for five to fifteen percent, because I put if I put in a large enough trade at whatever value it is I get five ten fifteen percent per day, that compounds on top of each other and you putin a thousand dollars for atrade ten you make ten percent, then you have a thousand dollars onehundred, the next day you put in athousand dollars one hundred on the trade you make a turn you make, you make another sale you get you see where that goes.

08:07 –Don’t Worry About China’s Ban

So it goesup and up and up it up and it compoundsand it’s snowballs and that’s exactlywhat I’m doing here.So anyway, hopefullythis was helpful again wanted to show you some of this and the ICO beside the ban on the exchanges that China isleading the way on don’t worry too muchabout it I’d be you know cautious Iwouldn’t keep my money all in Bitcoin right now I would put a little bitBitcoin a little bit in theory I’m alittle bit in you know USD Fiat orwhatever fiat currency you’re using justto spread your risk a littlebit and then I would do day trading ontop of all of that.

Anyway,hopefully you found this helpful again I’m Dan from Crypto Camacho.com. Leave me comments let me know if this is helpful if there’s anything specific you would like to learn about also check out my other social mediaprofiles on Facebook, on Twitter, on SteamIt, you can check those out, Ipost a lot of other content there about day-trading about how tobuy your first bitcoin so forthand so on so anyway hope you enjoyed it and I’ll talk to you next time.