The Beginning of Journey: How to Learn Copy Trading from Scratch
Copy trading is a bridge between cryptocurrency novices and experienced traders. This system allows beginners to utilize the strategies of professionals for their investments. Together with the Aumify team we would like to present you with a basic guide to getting started with copy trading.1. What is Copy Trading?Copy trading is an innovative investment strategy in the world of cryptocurrencies, allowing investors to automatically replicate the actions of successful traders. Let's delve into the
ā”ļø The decision on the Bitcoin ETF is expected today, according to Eric Balchunas, an analyst from Bloomberg specializing in ETF.
According to his statements, the long-awaited approval of the spot Bitcoin ETF is anticipated within the next 5-7 hours.
In an enthusiastic message, he wrote: Ā«Happy ETF Approval Day (for real this time) to all those who celebrate.. as far as we know it's ALL SYSTEMS GO. Most likely is we see formal approvals ballpark 4-6pm today with the Derby starting on Thursday. We are ready at Bloomberg, getting DES pages up as we speakĀ».
š SEC and Twitter (X) have announced an investigation into a fake tweet about Bitcoin ETF.
Yesterday evening, the official Twitter account of the Securities and Exchange Commission (SEC) was hacked, leading to the publication of a message claiming that Bitcoin ETF had finally received approval and permission for listing on all registered exchanges.
This initially caused a short-term surge in the price of Bitcoin to $48,000, followed by a sharp decline to $44,800, resulting in the liquidation of positions for numerous traders.
Ā«The Securities and Exchange Commission will collaborate with law enforcement agencies and our government partners to investigate this incident and determine the appropriate next steps related to both unauthorized access and any associated unlawful activitiesĀ» - as stated in the official SEC statement.
š Currently, 80% of Bitcoin addresses are profitable, a level not seen since November 2021!
š Setting a new historical record: over 39.1 million profitable addresses. This surpasses the numbers from November 2021 when Bitcoin reached $60,000!
š” It's essential to remember that more than 9 million addresses are still in the red.
Cryptocurrencies are a volatile world, and caution in investing is always important.
š Bitcoin continues to show its strength, reaching $34,000. Interest in it remains high!
š¤ In conclusion, the Bitcoin market situation is promising, but remember the risks. Investing in cryptocurrency is an exciting adventure!
$BTC š Bitcoin mining difficulty has reached a new all-time high (ATH)! š
We are witnessing a historic moment in the world of cryptocurrencies. Bitcoin mining difficulty has increased by 2.35%, reaching a level of 62.46 T. This is the fourth consecutive increase in difficulty! šŖ
š Currently, the network has a hash rate of 451.54 EH/s, indicating high miner activity. As mining difficulty continues to rise, miners must work even harder.
š This also brings us closer to the upcoming halving event, which is likely to occur in April 2024. Miner rewards will be cut in half. āļø
š The next mining difficulty adjustment is expected on November 13, 2023, with an increase of 0.39%.
Bitcoin remains in constant motion, and miners must adapt to remain competitive.
$ETH developers have postponed the Dencun hard fork to 2024
This decision comes in response to significant technical challenges encountered in the test network. Dencun was one of the most highly anticipated upgrades to the Ethereum network. However, due to difficulties in development and testing, its release has been delayed. Developers are currently actively working on the next upgrade, including the proposal EIP-4844, and have confirmed that Dencun will not be rolled out this year.
In September 2023, the Ethereum Holesky test network faced issues, causing delays in development. Developer Tim Beiko speculated that the Dencun fork would be moved to the beginning of 2024 to avoid releasing the update during the holiday season.
This decision was confirmed at the All Core Developers conference. Developer Potuz highlighted serious problems with the test networks, emphasizing that none of them are functioning as intended.
In the world of cryptocurrencies, copy trading is becoming an increasingly popular method of investing. Platforms like Aumify offer a unique opportunity to copy the trades of successful traders, allowing even novices to earn on the volatile cryptocurrency market. However, choosing the right trader is key to achieving your financial goals.
The first thing to pay attention to is the experience and reputation of the trader. Examining the trader's past performance, as well as reviews from other investors, will help get an idea of their level of professionalism and the effectiveness of their trading strategy.
It's also important to consider the traderās trading style and their approach to risk management. Every trader has their unique style, which can be more aggressive or conservative. Evaluating these aspects will help understand how well the traderās strategy aligns with your investment goals and the level of risk you are willing to take.
Technical support and the ability to communicate with the trader also play an important role. Effective communication can help better understand the traderās strategies and get timely assistance when problems arise.
Donāt forget to consider the terms and commissions set by the trader on the platform. Understanding all possible fees will help avoid unpleasant surprises in the future.
Lastly, the transparency of operations and the security of your investments are paramount when choosing a trader for copy trading. Make sure the platform and the trader provide transparent information about all trades and have reliable security measures to protect your capital.
Choosing the right trader for copy trading is an important step towards successful cryptocurrency investing. Join Aumify community and start your journey to financial independence today!
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