The cryptocurrency mania in 2017 has not just affected Bitcoin, Ethereum, and other altcoins. Stocks getting involved with blockchain technology have seen similarly insane moves as the cryptocurrencies themselves. At the moment, the momentum in the blockchain stocks has been just as good as playing the cryptocurrencies themselves. Here is why you should be participating in the massive momentum in blockchain stocks.
Fast Moves In Blockchain Stocks
Stocks gapping up on blockchain catalysts have consistently made insane moves in the first few hours of the market open. NXTD a few weeks ago went from 4.50 to the 8’s in a couple hours. NETE recently gapped up from the 5’s to around 15 and ran all the way to 25 in the same day. And of course LFIN went from under $5 a share to the $140’s in around two days (Check out this article about how we played LFIN). We are seeing the same kind of momentum in blockchain stocks as we are in the cryptocurrencies themselves.
Convenient Way To Speculate on Cryptocurrencies
Opening an account on a cryptocurrency exchange can take several days and sometimes weeks. If you do not have an account to trade cryptos, it is sometimes easier to trade blockchain stocks with your stock trading accounts. Many stocks trade in sympathy with Bitcoin, like RIOT. You can trade RIOT instead of trading cryptocurrencies themselves. Always keep in mind that weakness in Bitcoin can increase the probability of weakness in blockchain stocks, and vice versa when Bitcoin is acting strong.
No Cryptocurrency Expertise Needed
To successfully day trade blockchain stocks, you do not need to be cryptocurrency expert. You just need to focus on the catalyst behind the stock, and of the technicals of the stock. You also need to be aware of the chart and trend of Bitcoin. Your primary focus when trading these stocks should be the chart. Fundementals at the moment do not seem to be affecting the price movement of the stocks running on a blockchain catalyst. RIOT, LFIN, and XNET are all fundamentally terrible companies, but that did not stop their stocks from going up 100's of percent in a matter of days. These stocks have also been holding up after making their big moves. Most junk companies that double or triple in a short period of time quickly roll over.
Better Fills and Executions
Most cryptocurrency exchanges have awful trade executions, making it hard to enter and exit positions swiftly. When you're day trading any volatile financial instrument, you need to be able to enter and exit your positions in seconds and exactly at the prices you want. Most cryptocurrency exchanges will take minutes to fill your orders, which can result in you losing a lot of money through slippage. With stocks, there are no issues with execution speed. Most brokers will fill you in a matter of seconds, so you don’t have to worry about taking an extra big loss or not getting filled right before a big move.
Win A Free Stock Trading Bootcamp
Looking to take your trading to the next level in 2018? We are giving away a free 60 Day Trading Bootcamp this week. Join our contest here to get a chance to win our 60 Day Trading Bootcamp, which starts on January 9th, and put yourself in the best position to achieve your 2018 trading goals.
Don’t Miss Our Free Webinar
We will be announcing the winner of our contest on our Youtube Live event this Wednesday, January 3rd. In this webinar, we will be showing you exactly how you can profit off of these blockchain stocks in 2018. Set your reminder for the webinar here, and give the video a like!