25 Jun 2018 Pavel Petrov
Crypto Insight: Short-term Traders and Calendar Sites
The cryptocurrency market depends on the industry events – prices and trading volumes tend to spike up following the good news related to a specific cryptocurrency, a new launch of a product or services, as well as global blockchain gatherings. Prices and trading volumes mark a drop down when there is an adverse event – like an attack or a security break announcement.
Short-term traders have been a hot discussion point during the Consensus 2018 meeting in May 2018. Crypto coins holders argued that short traders use the hype related to an event or product/service launch to make fiat money, which is not supposed to be the only purpose of the cryptocurrencies.
The crypto community advocate for a fast and straightforward coin exchanging process, free of any risks related to short traders slumping the coins prices hours after an event in the crypto world.
Jim Stokes, a British self-employed financial analyst, compares cryptocurrencies market to a passenger train: “You jump on board when the train is at the station. Then it quickly gets up to optimal running speeds, until another train station arrives. And so on, and so on. The trick is to get at the right time.”
Crypto calendars, such as cryptomarketcal.com are community-driven – users vote for the legitimacy of the event, and the event’s creators might as well be rewarded directly in their wallets.
The migration of TRON’s ERC20 tokens on the freshly released TRX blockchain, free of Ethereum, is one of the latest event examples of how crypto traders use calendars. Tron’s exchange price increased three days before the migration from $0,40 to $0,50. However, trading volumes decreased right before the price, forcing it to fall to a steady $0,41.
Coins owners are strongly advised to follow crypto calendars to protect their investments and trade them carefully on exchange platforms. The topic of short-term traders remains an open discussion for the industry, perhaps a set of industry regulations could protect coin holders.