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Market & Analysis

A 20-year-old crypto market-maker who skipped college breaks down his Reddit-inspired approach to trading – and outlines why he sees ether displacing bitcoin as the ‘king cryptocurrency’

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Matthew Tweed
Matthew Tweed is a 20-year-old crypto market maker.

  • Matthew Tweed runs his crypto firm from his parents’ house in the suburbs outside London.
  • 20-year old Tweed told Insider “around 90%” of the conversations he has about crypto take place on Reddit.
  • He backed ether to eventually displace bitcoin due to its technological advantages.
  • See more stories on Insider’s business page.

Matthew Tweed learnt his first valuable lesson about cryptocurrency six years ago, when he was just 14 years old.

“I got into investing in crypto because I found an interesting token that was meant to be for online marketplaces, and I moved from that to bitcoin,” Tweed told Insider. “I can’t remember what the project was called – it didn’t go anywhere, but that showed me that there’s a lot of cool projects, but a lot of projects won’t end up working out.”

Tweed now runs his low-latency trading firm, Pine Financial, from his family home in Woking, a medium-sized commuter town, 25 minutes from London. He believes 100% annualized gains are possible in that area of cryptocurrency trading.

Low-latency, or market-making, trading refers to the use of algorithmic trading to increase profitability. Tweed’s bots execute trades on crypto exchanges like Deribit.

“I managed to get into the market-making space without eight figures behind me, but it’s not very accessible,” Tweed said. “You have to put in a lot of time to become competitive.”

Tweed has spent a significant amount of that time on Reddit. He said his first break in market-making trading came from an interaction with another user on the social networking site.

“At the very end of 2018, I got into low-latency trading,” he said. “That came from someone I met on Reddit – to be honest, 90% of what I’ve done and the people that I’ve met has come from the various sub-reddits on algo-trading.”

“I frequent r/algotrading for a lot of my work,” Tweed added, referring to a Reddit forum with 1.2 million users that focuses on quantitative trading and automated strategies. “The specific subreddits are good, but places like r/cryptocurrency don’t have much good content, so I barely look at it.”

Tweed embarked on a career in algorithmic trading just as his classmates were beginning to apply to college. For him, a formal education had limited appeal, given his success with cryptocurrency trading.

In terms of which cryptos he likes the most, Tweed said he believes the ethereum network’s superior technological capabilities will enable its ether token to surpass bitcoin.

“Ethereum will be far more scalable – that should lead the way for being able to make much better applications, so you can have a proper smart contract based decentralized system,” he said. “You’d never be able to build smart exchanges on top of bitcoin – there’s not a platform for it.”

“Long-term, I think there’s a good chance ethereum will become the king cryptocurrency,” Tweed added.

Ether has been volatile this year, surging from $730 to a peak of almost $4,000, before collapsing to under $2,000 weeks later. The token has risen by around 10% to $3,140 since last week’s implementation of the so-called “London hard fork” upgrade, which initially burned around $8,900 worth of coins per minute.

“I think Ethereum 2.0 is going to be great for scalability in the crypto space,” Tweed said. “Many smart contract platforms claim better scaling than Ethereum, but they’re often extremely centralized, or make other fundamental trade-offs, which defeats the purpose of crypto.”

However, despite his own success as a relative outsider, Tweed said investors need to be careful before throwing themselves into the cryptocurrency space.

“Cryptocurrency is fairly small and specialist – I wouldn’t recommend people just throw money at it,” he said. “There’s a lot of ways that retail investors can lose money.”

“There’s a need for regulators to have knowledge of the industry, but in general, I’m in favor of exchange regulation, risk disclosures, and education to protect retail investors,” he added.

Tweed pointed to ‘sh*tcoins’, such as the highly volatile dogecoin, as an example of an area where retail investors could potentially lose money without tighter regulation.

“[Sh*tcoins] are amusing, and I enjoy watching them, but I wouldn’t invest in them or hold them,” he said. “The price may go up in the short-term, but there’s no reason it would in the long-term. In the short-term it’s just supply and demand – people jumping on the meme-coin.”

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Dogecoin

Dogecoin Millionaire Review 2021 – Trading App Scam?

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Dogecoin Millionaire Review”- Is Dogecoin Millionaire App legit? Is Dogecoin Millionaire Trading Scam? – The Dogecoin network has grown to become one of the most vital and influential cryptocurrencies in existence. Dogecoin market developsintention to help bring other people into this incredible game. Investorshope to produce more consistent returns alongside the community growth through targeted investment offerings, public outreach, and trading/trading tips.  

Dogecoin is more than a cryptocurrency. It’s an internet phenomenon, and it shares many similarities with its more famous cousin, Bitcoin. Like Bitcoin, Dogecoin is traded online and used to purchase various goods and services. Dogecoin Millionaire also intends to utilize our established relationships within the cryptocurrency space to provide additional value to investors sleeping under bridges somewhere. 

Dogecoin was created in December 2011 as an alternative to Bitcoin. At its inception, Dogecoin was simply a joke: a Dogecoin pro bono wallet containing a few thousand coins selected from among dozens of different versions of the currency created by anonymous programmers. Since then, Dogecoin has become well-known in the cryptocurrency community and traded at numerous price points leading up to its November 2012 launch as an investment commodity. 

Click Here to Register with Dogecoin Millionaire App Now 

What isDogecoin Millionaire trading? 

Dogecoin is unique in that it is both a digital currency and a gambling game. As the value of Dogecoin has grown, so has the interest in purchasing stakes in the managed Dogecoin Investment Pool. These stakes can then be exchanged for cash or other investments at any time.  

The Dogecoin Team has created a method of investing in Dogecoin without any risk involved. Anyone can come on the team and increase their Dogecoin investment by donating funds wherever they are. Simply contribute to the Dogecoin team. They will distribute the donated Dogecoin among their active allies in the community without asking anyone else. 

Similar to bitcoin 

Dogecoin is a cryptocurrency with a similar purpose to Bitcoin: it is used to purchase certain goods and services on the websites of the Dogecoin exchange. Many cryptocurrency users have found Dogecoin particularly attractive because of its community-based approach to development. As a result, Dogecoin has seen steady growth in value since its launch on January 20, 2014. Due to its low processing fees and easy method of purchasing cryptocurrency, Dogecoin has found itself squarely in the upper rungs of cryptocurrency rankings. 

Well, it is similar to Bitcoin, with a 1/10th the price. As of writing this, Dogecoin is trading at $6.67, having topped the charts at over USD 70 late yesterday. This makes Dogecoin one of the most valuable cryptocurrencies in existence and one of the easiest to acquire.  

If you haven’t heard of Dogecoin yet, then you might be unaware that an Internet meme inspired it; the ShibaInu. In late 2013, one Redditor assembled a community of followers by gives away 100 Dogecoins to anyone who contributes a tip over $5 to their Reddit account.  

Click Here to Register with Dogecoin Millionaire App Now 

Dogecoin Millionaire investment 

There are three different types of Dogecoin. The premise is what people get for investing in the coin before it officially launches. The halving takes place every 28 days and halves the premise amount every year until 50%. The network also gets a new block every 8 minutes instead of 12 hours like Bitcoin. This means that a Dogecoin investment that sat in your wallet for days might suddenly be worth $10,000 on an exchange when the network releases. 

It all started when one user decided to distribute 130,000 Dogecoins among four random people on the internet. Soon after, the creator realized he could make money even more efficiently by selling the coins online. And that’s where the Dogecoin Millionaire App comes in.  

Anyone can download this free mobile application and within a few clicks earn 100,000 Dogecoins, which they can put toward any product on the market or donate to a charity if they like.The platform has been built with a minimal marketing budget. It has grown organically by community vote and word of mouth. If you enjoy playing games and earning free money, then this is your chance to get involved. 

What is Dogecoin Millionaire app? 

Dogecoin is rising fast and everyone wants their piece. The coin was created in April 2012 by cool guy Jackson Palmer as an experiment in open-source cryptocurrency. It’smarket cap of over $150 million as of February 2014. The Dogecoin community has grown rapidly over the last twelve months. 

Much of the early investment was made by individuals on Reddit and other online communities. Still, now the market has expanded beyond that, and many high-profile investors are jumping into Dogecoin. Millionaire offers one of the best ways to make money with Dogecoin – download the app and follow the simple steps. 

How Do I Sign Up For The Dogecoin Millionaire App?  

  • JOIN THE SITE TO REGISTER  

Create a free trading account by filling out the form at the top of the official page. The procedure takes five minutes. It treats all user data with the utmost care.  

After you sign up, it will direct you to the partner broker’s page to deposit funds into your trading account. Reputable, well-regulated brokers manage all money transfers.  

You can go about your everyday business while the trading process operates in the background for you. A $250 deposit is all that is required to begin your journey to becoming a prosperous crypto trader. 

Click Here to Register with Dogecoin Millionaire App Now 

What type of Dogecoin Millionaire trading is? 

Are you searching for increment in your income? Dogecoin is a cryptocurrency that utilizes the Dogecoin network to allow for Dogecoin Millionaires to earn free money.  

  • Secure Dogecoin payments 

Using peer-to-peer technology, we let users find each other quickly; Find clans within common regions; Make free trades with customizable settings. Trade with your favorite online games; Secure your Dogecoin payments with encryption; and much more! 

  • Simple & Easy to Use the app  

You can install it within seconds on your PC or smart mobile devices.  

Dogecoin Millionaire is Secure Transactions using blockchain technology to deliver a 98.9% success rate for its investors.With Dogecoin, creating a cash deposit is as easy as oneclick – placing an order on an online marketplace and then waiting for your Dogecoin to arrive at your bank account. 

Dogecoin is the hottest new crypto-currency, and as of today, there are over 120 million Dogecoin in circulation. This makes Dogecoin ideal for fast, easy, and secure cash deposits. 

  • Trusted Performance of Dogecoin 

It is a fully automated app with the best performance. It instantly scans all exchanges with Zero risks. 

Trading Procedure for Dogecoin Millionaires 

From trading platforms to security measures, every detail is discussed openly so that users could even participate in the forum for trading. Various concerns about the platform’s performance have been raised over time. Users reported multiple issues while continuing to work with the platform, ranging from vague purchases to changes in the information or valuation of the Dogecoins. 

Technical flaws are most likely to blame for the problems encountered by users. Its functionality is already designed to provide easy navigation and functionality. 

Furthermore, the platform’s utmost transparency has piqued the interest of millions of people on the site. It has high transparency for transactions, billing information, and other site-related components. People who are new to the site can easily access the details provided on the system’s page and learn about the entire trading process. 

Click Here to Register with Dogecoin Millionaire App Now 

Why is the Dogecoin millionaire app beneficial for investors? 

We are going to show you exactly how easy it is to earn money through Dogecoin by mining. We will also show you how easy it is to use cryptocurrency as a method of exchange and how it is increasing in popularity. There are few reasons why this platform is worth mentioning: 

  • It’s being used as a means to buy products and services in small amounts, instantly and for free.  
  • Purchasing Dogecoin with other cryptocurrencies has been made possible as well 
  • Dogecoin is helping thousands of new users to get into cryptocurrency. 

It was initially created as an alternative to Bitcoin, but after several controversial changes, including expanding the block number to 32 megabytes and removing the 10 percent fee that Bitcoin charges. The original Dogecoin price was around $1.40 at launch, but it has grown to over $3,000 per coin. It’s more popular than Amazon.com stock in some countries and less famous than Microsoft’s stock. 

Dogecoinis popular on social media 

Dogecoin is a fun, unique coin that makes everyone smile. It’s not tied down to any exchange and doesn’t require any special knowledge or knowledge about cryptocurrency. Dogecoin allows anybody to earn Dogecoin by sharing links or images of their favorite ShibaInu with the tag #DogecoinMansion on Twitter, Facebook, or any other social network. 

 People who have discovered the Dogecoin Mansion have become famous on Reddit, with over 65,000 subscribers flocking to their page searching for tips and tricks. As a result of inflow of new members, Dogecoin has increased by over 1500 percent in last 24 hours alone! 

Dogecoin is the second most popular cryptocurrency, and it’s experiencing a surge in popularity as one of the best ways to buy things online anonymously. Using Dogecoin enables you to purchase many rare and expensive items for small amounts of Bitcoin. Well, making it especially useful in anonymous transactions involving drugs, guns, or stolen credit card numbers. Dogecoin, Jackson Palmer, received over 12 million Dogecoins from donations through the ShibaInuDogecoinmultipool. Dogecoin began as a joke but soon became popular among its users and traders 

Is Dogecoin Millionaire a good investment for me? 

Are yousearching for a safe cryptocurrency? Then Dogecoin Millionaire buying and selling is only for you.  

Is Dogecoin Millionairea fake or scam? 

No,Dogecoin Millionaire is not a scam.It is fastest growing cryptocurreny right now. It’s also one of the most controversial. The market cap has increased by nearly 300%, and the price has gone up by almost 400%. Due to the sudden increase in value and popularity, many people have been asking – Is this actually a scam? To answer this question,it is no. 

Best Verification system 

Dogecoin is the first cryptocurrency to reach one million dollars with an authentic verification system. Despite its wild price increase, it is still considered an investment, suitable only for experienced users.Furthermore, the dealer must provide their cost information.  

Frequently asked questions (FAQS) 

  1. Is it similar to MLM or cryptocurrency investing? 

This is not the same as MLM, Crypto Trading, or anything else available. Based on proven schemes used by large banks, the software generates profits with 97 percent accuracy. 

  1. What is the highest amount I can earn? 

Earnings with Dogecoin Millionaire are limitless. Some members earned their first million dollars in as little as 61 days. 

  1. What is the price of the software? 

Really nothing, Members of Dogecoin Millionaire receive a free copy of our open-source software. Obviously, fill in the form to become a participant. 

  1. Is there a cost? 

There are no additional fees, broker fees, or commissions. Well, cash isultimately yours and withdraw it easily whenever you want. 

Final words for useful money app 

Dogecoin, the cryptocurrency of the internet, is making a run for its money. The meme-based cryptocurrency has experienced a surge in popularity this week, rising from $1 billion to over $2 billion in a matter of days. Despite this windfall, Dogecoin’s market cap remains small – less than $1 billion.  

Well, for downloading the app of Dogecoin Millionaire review,enter the app. The free download offers instant wallet access for all Dogecoin wallets. It allows users to exchange Dogecoin for various popular cryptocurrencies.During the past 24 hours, the Dogecoin trading platform has processed more than 850,000 transactions, bringing the trading platform’s value up by more than 400%. 

 As a result, Dogecoin has surpassed $1 million in market cap and is now ranked 16th among cryptocurrencies by market cap. The platform is available in more than 40 countries and is supported by more than 100 primary exchanges and 40 regional trade groups. 

Click Here to Register with Dogecoin Millionaire App Now 

Dogecoin Millionaire Review 2021 – Trading App Scam? Source link Dogecoin Millionaire Review 2021 – Trading App Scam?

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Dogecoin

Trading Range Getting Extremely Tight for Dogecoin – Breakout in DOGE/USD Soon?

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Dogecoin turned extremely bullish for about a month in April and May, surging from around $0.05 until $0.74. That was very impressive for this new cryptocurrency, which brought to life the Shiba Inu coin as a response to Dogecoin. Although, since May 8, the situation in Dogecoin has been very disappointing and depressing for buyers.

DOGE/USD reversed down in the second week of May, although this cryptocurrency was finding some form of support at the 50 SMA (yellow) on the daily chart until the end of June and we saw a bounce from there. But, the 20 SMA (gray) which was providing support during the bullish trend in spring, now turned into resistance, confirming that the trend had shifted to bearish.

The bearish trend resumed after the rejection at the 20 daily SMA, and the 50 SMA and the 100 SMA (green) were broken. As a result, this cryptocurrency continued down, making lower lows in June and again in July. That showed that the situation in Dogecoin was really bad.

DOGE/USD

But the 200 SMA (purple) held as support on this time-frame chart despite being pierced, although we know that cryptos are very volatile, so don’t expect the price to respect these levels exactly to the pip. This moving average has been holding as support, while pushing the lows higher recently, but only marginally.

On the other hand, the highs have been getting lower as well, with the 50 SMA acting as resistance now and pushing the price down. So, the range is getting extremely tight for this DOGE/USD and a breakout is expected soon. The price action points to a bearish breakout, although if the sentiment in the crypto market continues to improve, we might see a surge higher as well. We might try to trade the breakout, selling if the 200 SMA gets broken or buying if the 50 SMA gets broken to the upside, which you can follow on our live forex signals page.



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Ethereum

Ethereum, Bitcoin down in early trading

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Ethereum and Bitcoin were both trading lower Monday morning with the losses of 0.14% and nearly 5%, respectively.

Ethereum was trading at $2,586 per token. Bitcoin was trading at $39,685 per coin, according to Coindesk.

The latest version of the U.S. Senate’s bipartisan infrastructure bill narrows the definition of “broker” regarding crypto tax collection, but stops short of specifying only companies that provide services for customers qualify, Coindesk reported.

ETHEREUM PRICE RISES ON SOFTWARE UPGRADE, BITCOIN SLIDES

The bill, which is being debated in the Senate, funds around $1 trillion in infrastructure improvements, and would be partially paid for by almost $28 billion in taxes generated from crypto transactions, the report said.

An earlier version of the bill sought to do this by boosting reporting requirements and broadening the definition of a “broker” for tax purposes so it would include any parties that might interact with crypto — including decentralized exchanges or other non-custodial service providers.

Coindesk reported the bill’s language states “Any person who (for consideration) is responsible for regularly providing any service effectuating transfers of digital assets on behalf of another person” is now included in the definition.

In other cryptocurrency news, the higher bitcoin prices from the end of July are facing pressure from sellers looking to take their profits based on proposed U.S. infrastructure bill’s language.

Saturday’s bitcoin price of nearly $42,400, compared to current prices of around $39,500, is likely associated with uncertainty surrounding the bill, according to Daniel Kim, head of capital markets at Australia-based decentralized lending company Maple Finance.

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Uncategorized

Bitcoin Trading Strategy As The Cryptocurrency Moves Above 50-Day Simple Moving Average In Recovery Mode

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Bitcoin (BTC) is buying and selling above its 50-day easy transferring common for the primary time since Could 12. The buying and selling vary since Could 19 is from a excessive of 41,323.05 set on June 15 to a low of 28,800.01 on June 22, down 30.3%. The upside from this low reached its semiannual pivot at 35,643.29 on June 29. A secondary low of 30,400.00 was set on July 19. From this low bitcoin is now buying and selling forwards and backwards round its 50-day easy transferring common at 34,183.35.

If bitcoin can keep above 34,183.35 the upside is to its semiannual and weekly dangerous ranges at 35,643.29 and 36,863.07. Even with this upside, its weekly chart stays adverse given an in depth on Friday, July 30 beneath its five-week modified transferring common at 36,162.14.

The Day by day Chart for Bitcoin

Bitcoin has been buying and selling above a golden cross since Could 26, 2020, when the 50-day easy transferring common—then at 8,322.00—rose above the 200-day easy transferring common at 8,052.43. Discover how the 50-day SMA was a purchase degree at 29,252.24 on January 27. The subsequent time the 50-day SMA was examined it was 50,951.90 on March 25. On April 18, bitcoin closed at 55,550.00, beneath the 50-day SMA at 56,252.44.

Bitcoin traded beneath its 200-day SMA at 39,763.27 on Could 19. The buying and selling vary since then has been down from 41,323.06 on June 15 to twenty-eight,800.01 on June 22.

The horizontal line on the prime of the graph is that this month’s dangerous degree at 62,927.95. The horizontal line on the backside of the chart is the annual worth degree at 18,892.52, which is the general draw back danger.

The three horizonal traces throughout the buying and selling vary are the weekly dangerous degree at 36,863.07, the semiannual dangerous degree at 35,643.29, and the quarterly pivot at 32,802.94.

The Weekly Chart for Bitcoin

The weekly chart for bitcoin is adverse however oversold and is beneath its five-week modified transferring common at 36,216.42. It’s effectively above its 200-week easy transferring common or reversion to the imply at 13,939.59.

The final two longer-term shopping for alternatives got here through the weeks of March 15, 2020 and the week of August 2. On March 15, bitcoin examined its 200-day SMA then at 5,540.89. On August 2 bitcoin broke above the down pattern line at 10,128.28.

Buying and selling Technique: Purchase bitcoin on weak spot to its quarterly pivot at 32,802.94 and cut back holdings on power to its semiannual and weekly pivots at 35,643.29 and 36,863.07.

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