Ive been wanting and taking my time to enter the trade game. But before I do, just wanting to know the prod and cons of having a lot of new traders coming in.
Trading is much more safer and easy to learn. Ive been preparing myself for months now and wanted to start my journey here in bitcointalk. But like me? New Traders are comming in fast. Will it be a good sign to our world of crypocurrency? Or will it affect the competition inside?
I think that at the moment when the market is constantly fluctuating and extremely difficult to predict, the appearance of many traders will make the market become more complex and more dangerous. It can be seen that this is a very potential market and can be extremely profitable, so a lot of people go to trade to be able to exploit the benefits of the market.
There is an advantage and disadvantage if there are more traders, an advantage is that the price whenever a lot of traders goes high, but the disadvantage is that you have to see the price regularly or else due to lot of traders they might withdraw their funds when the price goes high.
If you are a long term holder more traders can only be a good thing, after all they push the price up yes they can push the price down as well but over the long term more traders means more money and that also means a higher market cap and they rise the price for each one of your coins that you are holding so I do not really have a problem with more traders coming into the market.