Traders urged not to sell Tony Weiss lays forecasts of the onset of the bull market

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During the Riga conference Baltic Honeybadger 2018 at the discussion panel traders, Tony Weiss, Whalepanda and Florian Mayer (Marsmensch) agreed that now is the time to hold assets.

Asked the host of the panel discussion held in Riga conferences, the trader Whalepanda who calls himself bitcoin maximalist and is part of the command crypto friends, said sharply:

“No one should sell”

Whalepanda, Tony Weiss and Florian Mayer, who also acts for buying bitcoin, agreed that the percentage of successful traders is very small, and now, when the time of the bear market, trading is more complex, in terms of time, money and stress process, which is simply impossible to start without proper experience.

At the same time, Tony Weiss noted that the market may fall for a long time, and expectations of newcomers may not be justified:

“I think most people is illusions. I informed about bear market 10 or 11 January, knowing that the market is becoming bearish and may be the entire year. But around me there are people who still don’t think the market is bearish and what we are now will quickly reach up to 50 000”

Earlier this year Tony Weiss likened the current trend of the exchange rate for bitcoin with the trend 2014 of the year and reiterated its forecast that “the most optimistic of bears” scenario includes price of 4 975 $ per coin. However, in February, the trader was sure that by the end of the year the price of basic cryptocurrency will reach 25000, but are now convinced that the bear market will last more than expected, and growth will continue until next year.

Florian Mayer added that in Germany, after the deduction of asset 12 months not to pay tax on the income from these assets, and this is another reason why seasoned trader prefers the strategy of hodling.

By sharing strategies how to trade cryptocurrency assets, traders agreed that each trader’s strategy must be your own. Tony Weiss also shared skepticism toward the belief in artificial intelligence, noting that trading happens between people, not between computers:

“All successful traders know that trader should find its own strategy and to make their own decisions. If you follow someone, if you rely on trading someone, and still not have lost money, please get out. You will lose all your money. If you want to be a successful trader in the long run, you need to learn”

Traders also noted that looking forward, as regulators will be able to provide a clear regulation. Whalepand believes that the situation will improve in early 2019, the year when there will be “more professional exchanges, and fully licensed and allowed to sell everything, including options and futures, approved by the SEC.” Mayer also noted that looking forward to when the market will be more “data, Analytics and professional tools.”

Also today at the conference in Riga became aware of a new Fund to promote Bitcoin — The B Foundation, which has supported the leaders of the crypto community.

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