Commodities versus cross pairs with iForex

[Gholbizel]

I agree with Kelune. The Bitcoin halving event typically leads to heightened volatility. Many of us were away from the market, waiting for the event to pass and to continue trading. Sometimes, it is better to stay away from the market when increased volatility is in place without any clear picture of where the price would go. But in general, the sentiment is positive, so I expect the price to continue in an uptrend, but I don’t believe it will reach 100,000 anytime soon.

[Kelune]

Of course… everyone was following the Bitcoin halving event, even those who don’t even trade bitcoin at all.
In the past, whenever the halving event was occurring it immediately had a positive impact on the price. Now, I agree with your point of view that it didn’t react as I expected. The price coninie to range between the levels that were before the event.

I've been monitoring the halving event closely, and it led to increased volatility in the short term. There were some good short-term trading opportunities, and as expected, the price went uptrend to around 66. I think it is still early to conclude that it didn’t impact the price. If you see historically, the uptrend after the halving event lasts for about a month, so there is still time. Let’s see…

[Deliniel]

Of course… everyone was following the Bitcoin halving event, even those who don’t even trade bitcoin at all.
In the past, whenever the halving event was occurring it immediately had a positive impact on the price. Now, I agree with your point of view that it didn’t react as I expected. The price coninie to range between the levels that were before the event.

[Nuathris]

Have you all been following the recent Bitcoin halving event? Historically, it has had a significant impact on Bitcoin's price, but from what I have noticed it seems like it had a small impact this time… or maybe it is still early…

[Arcanebringer]

The approval of spot Bitcoin ETFs is indeed a significant milestone for Bitcoin. It provides investors with a more direct and secure way to gain exposure to the cryptocurrency. This approval could also attract more institutional investors, such as banks, large investing funds etc. maybe the price will go even higher… It's definitely a trend worth monitoring closely.

[Nuathris]

I don't trade Bitcoin, but I'm intrigued by its recent price surge. The approval of spot Bitcoin ETFs by the U.S. Securities and Exchange Commission seems to have boosted investor confidence in Bitcoin. It's interesting to see how this development will impact the cryptocurrency market as a whole. At this point, it looks like the crypto world has a bright future ahead.

[Deliniel]

Yes, Kelune, I've been closely following Bitcoin's price movements. I do trade Bitcoin occasionally, and I find iForex conditions quite favorable for it. You can place a position from 0.01 to 2.3 lots, and the spread is within the standards.

[Kelune]

Hey, everyone! What’s happening with Bitcoin? It hit an all-time high again! Do any of you trade Bitcoin, and if so, how are the conditions on iForex for trading it?

[Agajurus]

I think with this kind of margin requirement I will need more money to make something out of it.
But the cool thingis that commodities are mostly fundamental. And geopolitical uncertainties are not resolvedyet and probably won’t be in the foreseeable future. Or maybe they became even more complicated since. So the possibilitesa are still there

[Gholbizel]

Uhm.. Wheat specificaly has 1:50 margin and minimum spread of 34 pips. The minimum volume size is 1.8 but idk if it’s in bushels or not
The max daily volatility is aroubnd 655 and the average daily volatilty is 200

[Agajurus]

Commodities huh? What’s the trading conditions and volatility for the wheat for example?
I’m just trying to understand if it’s even worth it

[Kelune]

Hey Arcanebringer, I agree with your observation about the factors that moved the price of cocoa, coffee and orange juice in the past year. Usually, when there is a high inflation rate, the price of agricultural commodities follows that trend. I am not much into these commodities, I trade mainly metals because I find it hard to follow the weather forecast in the main production areas around the world 😀 if one trades agricultural commodities one must pay attention to this factor since it highly affects the price, as you mentioned it in your comment as one of the factors that affected the price. So, besides the technical and fundamental analyses, one must implement forecast prediction too, which is too much for me 😀

[Arcanebringer]

Look Gholbizel, there will be always good trading opportunities in these instruments. I trade both, commodities and cross-pairs, and I advise you to keep one eye on these agricultural commodities as I think that in 2024 it is possible to see new highs in their prices. If we talk about the factors behind this price surge, three major reasons contributed to their rally: the post-COVID demand boom, the inflation and the bad crop weather. While the weather is hard to predict for 2024, the first two factors most likely will push the price up. Maybe not with the same pace, but the technicals show that the sentiment for Cocoa is still a strong buy. So, if I can share my modest opinion I think there is still a good opportunity to go long on Cocoa futures. I am not sure about the long-term investments but for the mid-term or short-term I would definitely go long.

[Gholbizel]

Guys, let me take you back to the original subject of discussion in this thread, about the commodities versus cross-pairs. A few days ago I analyzed the price of the commodities for the past year, and which ones performed well. I was surprised to see that the champions for 2023 are Cocoa, Coffee and Orange Juice. Not the gold, nor the oil, gas or other precious metals. The price of Cocoa increased amazingly by 72.90% only in the last year. Coffee prices increased by 59.32% and Orange Juice by 42.22%.
What do you think, is there still a chance to take advantage of the price surge of these instruments or it is too late now? Will this price surge continue in 2024?

[Agajurus]

Absolutely, Nuathris. Your dilemma is similar to the age-old question of which came first, the egg or the chicken? Even if the reaction of the Central banks is a response, with their actions they fuel the price rally. So yeah, to make proper trading decisions in the coming days I would watch closely what central banks are doing.