"Bitcoin is the perfect tool for traders and speculators," - Roman Bykov, Sibcoin Foundation

Today the editorial team of Fortrader.org magazine Roman Bykov, representative of the Sibcoin Foundation *which promotes, develops and communicates the cryptocurrency Sibcoin. As you can easily guess, we will talk about the cryptocurrency market, its popularity and difficulties, potential and investments in digital currencies.

FT: Hello, Roman. The most pressing question today is probably, what will happen to the price of bitcoin in the near future?

BR: Good afternoon to all readers of the magazine! No one knows the exact prognosis, but one thing is certain: bitcoin is still in a strong bearish trend. 6 тыс. долл. — важный уровень, и, в случае его пробития, можно ожидать дальнейшего снижения к новым глубинам. Следующими значимыми ориентирами станут 5 тыс. 4 тыс. долл. Для возврата к ап-тренду необходимо взять и закрепиться выше уровней 6700 долл. и 7000 — 7300 долл., где ожидается очень сильное сопротивление.

- Experts are very divided in their opinions, seeing a crisis in the cryptocurrency or a correction with "normal" volatility. How do you see the outlook for bitcoin in general and investing in it now?

- I don't see the point in talking about a "crypto crisis. The current correction is payback for last year's "megaics," and it is absolutely normal and largely expected. Bitcoin was and remains the main cryptocurrency, a kind of index of the cryptocurrency market.

As for investing in bitcoin right now, you should decide whether you are a long-term investor or a trader before taking concrete steps. Next, follow your strategy and money management:

• Determine for yourself the entry and exit points in advance: it is almost impossible to buy at the "bottom" or sell at the maximum, you can only speculate;
• Go in and take profits in installments, you can't make all the money;
• Make your own decisions, rather than following the advice of chat rooms or friends.

- In your opinion, does bitcoin continue to have the functions that its creators originally intended it to have? Or is it gradually becoming a speculative asset with great risks?

- I am absolutely convinced that it is, биткоин — это очень удобная форма денегand it is already replacing individual financial flows. Of course, it is a very speculative instrument, but if you look at its historical data, you can see that the volatility of this coin is gradually decreasing.

- As for other cryptocurrencies, are there any that are worth paying attention to, and why? For example, the actively promoted EOS?

- The popularity of most altcoins is due to hype. If you take a closer look at EOS, it is a fairly centralized blockchain, and the launch of its main network was accompanied by many vulnerabilities. Nevertheless, this does not mean that you cannot make money on alts, you just need to soberly assess the situation and choose your entry point carefully.

- What do you think about the active desire on the part of governments to bring the cryptocurrency market under regulation? Is there any chance of implementing the idea of decertalization after that?

- Decentralization is a technology, it is impossible to control it, as the experience of Ecuador and a number of other countries hostile to crypto has already shown. Despite the ban on bitcoin, people continued to engage in mining and over-the-counter trading.
However, regulation of the crypto market is a necessary benefit for the healthy development of the industry. Today we see a huge amount of outright scams and fraud, and it is adequate regulation that will help to combat unscrupulous participants in the crypto market.

- Bitcoin's volatility is so great that it can reach tens of percent per candle. How ready do you think the financial world is now for such instruments?

- If we talk about traders and speculators, a large volatility - is a dream, and bitcoin and crypto are almost an ideal tool for them. Unlike inexperienced traders, they are well aware of the degree of risk, and must take it into account in their strategy.

- To what extent do you think the cryptocurrency market today affects the global financial system as a whole? Is it possible that major coins will eventually become a substitute for fiat money?

- Although bitcoin has already replaced certain financial flows, as I wrote above, it has not yet had a major impact on the financial world. Nevertheless, many analysts are predicting bitcoin's role as a substitute for fiat money, and it is quite possible, although the path will be long and thorny.

- As for blockchain and other crypto-technologies, which are actively conquering the space already separate from coins, what prospects do you see in this respect? For which areas of our lives would they be most in demand?

- Along with the growing popularity of crypto, we have seen the emergence of "private blockchains" and blockchain consortia, and even examples of their integration with real business. Nevertheless, I am convinced that blockchain without decentralization, meaning that absolutely anyone can be a node holder, and without cryptocurrency or token, is just a slow and expensive to maintain database.

- Is it worth mining today? Or is mining no longer relevant?

- It is unlikely that we will see super profits from miningThe number of mines in the world, comparable to 2017, does not mean that mining is dead, just that it is becoming more like a business.

- Where in this case do you see promising niches for those who would like to make money from bitcoins?

- For beginner cryptoinvestors we also recommend that you pay attention to the bounty and airdrop of the various alts - is the distribution of coins for certain actions and activity. This model assumes that you invest only your time, and you can get a small number of coins for free, and wait for the rate to rise, or sell them immediately.

However, для опытных участников этого рынка наиболее доходное занятие — это, конечно, трейдинг. The largest volumes are now in bitcoin, but you can make a much higher percentage of profit on altcoins with smaller capitalization.

Рекомендуем обратить внимание на монету Sibcoin — действительно децентрализованная криптовалюта, в сети которой 7500 нод, и их количество растет. При этом, Sibcoin достаточно волатилен, что иногда позволяет закрывать несколько сделок за день, торгуя определенный коридор.

- Roman, thank you for your interesting opinion. We wish development of your fund and cryptocurrency!

* Sibcoin Foundaton was created to promote the global distribution of Sibcoin and technologies based on this cryptocurrency. The main objectives: to support developers' research, implement new technologies and functionalities based on Sibcoin platform, promote cryptocurrency in exchange markets, support miners' activities, implement a long-term marketing strategy, interact with partners and investors to create new products, as well as cooperate with government agencies.

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