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Editing by Nathaniel Cajuday
- The Bitcoin, Beer, and Bitstories May episode, co-presented by Bitget, focused on crypto trading strategies.
- The panel discussed the current state of the crypto industry, noting that despite the bear market, crypto will continue to thrive and stay.
- Factors affecting trading and investment strategies were also discussed, including the impact of policies, the role of institutions in fund flows, and the importance of minimizing risks.
For this month’s monthly meetup, the Bitcoin, Beer, and Bitstories May episode was co-presented by Bitget, a cryptocurrency exchange and digital asset trading platform. For this event, the topic highlighted was crypto trading strategies.
The panel includes Trading Psychology Specialist Celeste Rodriguez, 8Chain COO Ken Mandigma, HGR Digital Asset Group and JSG Group’s Jorge Go, Bitget Marketing Director Daniele Izzo, and AlphaFundCapital Managing Partner Emman Deiparine. The discussion was moderated by BitPinas contributor Michael Lance Domagas.
What were the things discussed during the recently concluded May edition of BBB?
Current State of the Crypto Industry
With the diverse expertise of the panel from their years of experience in the industry, the panel collectively noted that despite the bear market, crypto will still stay and thrive.
“It’s a very stale market, and I probably expect it to be kind of a sideways battleground zone for a while. I think the good news for me is that the max pain is kind of over. I don’t think we’ll draw down back to 15 to 16K Bitcoin,” Go mentioned, stressing that for a while the market will be stagnant.
Speaking from her experience dealing with other investors and traders, Rodriguez highlighted that “crypto right now is alive, but not exactly at its most rosy state.”
According to her, the perspective of the crypto market varies depending on the specific sector being discussed; whether it’s non-fungible tokens (NFTs) or web3 gaming, each sector has its own distinct characteristics and discussions surrounding them.
However, the trading psychology specialist clarified that while these sectors may be going through their early stages and facing challenges, it is clear that they are here to stay.
“Basically, I think this phase that we’re experiencing right now is the phase to test all of the users. If you’re really into the crypto market, this is really to test all the people if your heart is into crypto,” Domagas stated.
Factors Affecting Trading and Investment Strategies
“I think one of the key factors that I think is the policy because some of the projects right now are there’s a lot of bad actors who’re creating a lot of projects, system projects, so we don’t see a lot of retailers who’re joining the market because of that. They’re too afraid to invest. And aside from that, from the retailer’s perspective, and I haven’t seen any other sectors that came from traditional investing, like the energy sector, we haven’t seen that in the cryptocurrency market. So maybe if there will be a potential crypto or digital, maybe digital version of a cryptocurrency or let’s say decentralized, maybe that’s one of the key factors that will drive the market,” Deiparine explained.
While Go added that institutions play a significant role in driving fund flows within any market, including the crypto market. According to him, despite the lower investment levels during bear markets compared to previous years, the fact that institutions continue to invest and deploy funds is a positive indication that crypto is here to stay.
When to Enter and Exit the Trade
According to Izza, despite external factors and past challenges, the overall consensus is that crypto is still in the early stages, noting that despite difficulties in 2022, adoption and the number of users are continuously growing.
“So at the moment, I think we are still early in general. So if somebody’s wondering when to enter, today is a really good day to enter. So we still have a long way to go. Adoption is always growing generally, so the number of users is always growing. So the question is not when to enter, because at the end of the day, if you look into five years or ten years time, today is still a good time to enter,” he added.
This idea was supported by Mandigma and advised prospective investors to immerse themselves in whatever industry they wanted to get into:
“Bottom line, in everything there’s risk. So you just have to minimize that risk. That risk will never be gone, but rather it’s up to you whether you’re going to minimize it or maximize it even more. So yeah, you just have to listen, like, for example, to the Kol, to the pioneers of crypto, do your own research, and all that, and of course, do not get scammed by too good-to-be-true projects and all that.”
This article is published on BitPinas: [BBB May Recap] From Factors to Right Timing: Crypto Experts Share Trading Tips
Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.