Cryptocurrencies are one of the, if not the most sensitive assets in the world right now. Whereas currencies or stocks may decrease or increase in price based on news directly delivered from the government, cryptocurrencies may suffer terrible losses because of news from a regular crypto influencer.
Because of this, many career crypto traders have learned to ignore the market analysis that they themselves do and rely on the analysis or the Tweets of others. Needless to say, many gained a lot from this strategy, but many failed miserably.
In this article, you will learn when and where this important information can be found and which ones to pay attention to.
What news to pay attention to
There are hundreds of articles being published about cryptocurrencies every single day, so reading all of them is kind of a tough order.
However, thanks to experienced traders from other markets, we have at least some idea on which news to focus on. According to people who are trading forex with FXTM, the most important news is always about regulation, volume, and government projects.
Therefore, if there is news that a large country, e.g. the United Kingdom is banning cryptocurrencies within its borders, it’s expected that the evaluation of the whole market is going to drop significantly.
The same goes for volume reports. If crypto fails to reach a similar volume compared to last quarter, it’s likely for prices to drop. These kinds of changes are not affected by just finding out Bitcoin was added to another eCommerce store or something like that. Far-fetched and long-term changes make the biggest price movements.
When to find news
The most important news about the markets, at least according to experts from 55brokers, come out in the morning. However, this doesn’t mean that everybody will have the same timeframes. For example, news coming from the United States may be a lot more important than news coming from Greece or other small countries.
Therefore, it’s best if traders just measure the morning hours of New York, London, Berlin, and various other huge cities in order to know exactly when to go looking for news.
Where to find them
The most trustworthy market news is usually delivered by large crypto news websites. However, these sites usually focus on the minuscule developments in the industry rather than focusing on the financial aspect. If you’re looking for actual technical analysis-type of news, one of the best places to find it is TradingView. The site acts as a tool for research as well as a social media site for crypto enthusiasts.
Other social media sites like Twitter and Facebook can be good sources of information as well, but make sure that the information is coming from a trusted source.