If ye are a “feeling” sort of person as ye seem to imply i.e. ....one that goes by feelings good/bad ye shall have many lessons to learn and may habits to undo and many failures to overcome in the trading world as the market does not travel by ye feelings nor seek to complete them but it will hook them..snag them..destroy them...and spit them back out faster that you can say “mama mia” and will do so with no knowledge of your individual desires. That is, to accomplish the above, it does not even have know you exist much less that you are trading. Ye are a dot on the horizon....... PS JPM loses millions....they also make millions...when will ye be with them?
Contrast a current chart to the one you have posted. What effect did JPM’s news release cause? In this particular instance, is there a causal relationship between a news release and price discovery?
Maybe your statement does not apply to "trading," but I agree with you. IMHO, what is happening is most of Wall Street missed the Crypto craze. Now they are working hard to make it a "real" product they can monetize on. They will accumulate it quietly while the public looses all interest in it. Once the infrastructure suitable to big boys is present (clearing, custody, liquidity, etc), they will start pushing it up. I would not be surprised if bitcoin surpasses 20k within two years. Now, how much of my capital am I willing to risk on this prophecy? ZERO. If I put a little bit, it will not make much difference except the bragging rights. If I put significant amount, the risk it too high and timeframe is uncertain. Welcome to trading.
@MrMuppet : Yes I want to trade it and currently doing it. But trading in BTC won't make me any money if it's worth nothing. I can be the best trader and make a million BTC, it'll be pointless if it worth pennies. So the institutionnal investment is important and that was the point of the picture. If you're commenting only to bash in a sarcastic way then don't, I'll be thankfull. @Sprout : You mean the JPM coin or JPM going into cryptos ? Because Jamie Dimon said once again that they are NOT invested in any crypto except JPMC. Which we can see is a lie. It might be for private clients tho. Wich is still a positive news IMHO. @qlai : Well I thought more liquidity was good for a market and for trading on it. And I agree with your positive opinion for the next years. All tho my predictions goes way higher than 20k, but wether it will be 20k or 200k I'll be happy I mean, Blockchain is such a technology, bigger than the internet itself. I'll add one more thing, I don't think WallStreet missed the train. Or at least they are setting it back to lower prices. It's since the opening day of the first BTC futures that BTC corrected drasticly. It's only my noobish opinion but it kinda feels like they are shorting it hard until price is low enough for the Big Boys to come in and the Little Boys to capitulate out. Thank you for thoughts qlai !
@CryptoNurse: Ok look, I thought you want to trade. Everything that has a bid and an offer, no matter how shitty it is supposed to be, can be traded. It's up to you to figure out if and how often an asset is mispriced compared to other assets, the past or it's perception of value. Also it's up to you to figure out how to mitigate credit risk, counterparty risk and how to peg your account to your home currency, so that your not flat broke if BTC goes to zero. You can compete with the smartest guys in the field in trading stuff like ZN for a tick or you can use crypto as your learning playground were you can start out with 50$, enjoy a direct connection to the exchange for free, colocation is 200$ instead of 20k$, get market data and charts for free and trade against people who are as new to the game as you...plus a couple of low level HFT guys. You will lose money for a looooong time until you either get it or you give up. It's your decision, if you want to spend thousands on the way for market data, trading platforms and losses that are too big for your account or if you want to learn on a market that's accessible for zero fees, involves zero paperwork and is mispriced 90% of the time. Delete vocabulary like " liquidity was good for a market", "institutional investment is important" or "predictions" from your brain...truisms that you have picked up somewere on your journey which are not verified by yourself. Don't predict, trade. If you can trade at prices that favour you, why would you want institutional competition? Why would you base your decision wether you want to trade an asset or not on the opinion or actions of other people? Why would it be important to you that JPM or any other Wallstreet firm is involved? Can't you just go out for yourself and verify if a market is good or do you need to be spoonfed? I personally don't care wether you trade this stuff or not. In my opinion it doesn't make any sense for accounts below 1m USD to trade anything else but crypto, but that's just my opinion. This is not sarcasm, this is not bashing. This is the reality of trading. You are out there alone, nobody will help you except when you pay. It is your job to sit down, work your way through the BS and find an edge for you. If you do it like everyone does it, you wont make a dime. If you wait for others to verify your edge, you will cash in the leftovers. You wanted mentoring? Take this post as free advice. This is probably the hardest thing you've ever done in your life and you should not expect anybody to hold your hand on your journey. So better make it as easy as possible for you. I still LMAO when I hear people advocating FX to beginners...