eToro, the multi-asset brokerage and social trading platform which provides bitcoin and cryptocurrency trading services to its millions of users, has introduced an efficient method of assisting beginner and casual traders within the cryptocurrency space.
In its blog, eToro provides the daily cryptocurrency tracker, an extensive analysis article published on a daily basis to outline highlights of leading cryptocurrencies within the day. In previous coverages, NewsBTC emphasized that eToro only supports cryptocurrencies within the market that have a market cap over $1 billion. Thus, for cryptocurrencies with large market caps and active trading ecosystems like bitcoin, Ethereum and NEO, the eToro daily cryptocurrency tracker provides extensive analysis on their price pattern and factors of surge or decline.
For instance, Zach Chester’s August 15 analysis on bitcoin read:
“$5K Bitcoin is starting to look really promising. Hitting this milestone will also mean Bitcoin will have a market cap of roughly $83 billion, which could lead to a $100 billion market cap. Hitting $100 billion would be another amazing milestone, which will help draw wider attention to Bitcoin and the cryptocurrency scene.”
The $5,000 target mentioned by Chester is also the maximum target of leading analysts including RT’s Max Keiser and investment banks such as Goldman Sachs and JP Morgan. By utilizing the analysis of prominent financial analysts and institutions along with market trends, the eToro daily cryptocurrency tracker provides simple tips for the casual investor.
Additionally, at the end of the analysis for each cryptocurrency, users can immediately access their accounts by clicking “trade now,” making it easier and more user-friendly for beginner traders looking to diversify their portfolios and maintain a profitable collection of cryptocurrencies and crypto-assets.
However, users and traders should not consider information provided on the eToro daily cryptocurrency tracker as investment advice. Data provided by the eToro daily cryptocurrency tracker should only be used as reference and traders should only risk capital they are prepared to lose. As eToro stated, “All trading involves risk. Only risk capital you’re prepared to lose. The information above is not investment advice.”
Within the cryptocurrency sector, only a handful of companies, trading platforms and exchanges provide market summaries and information on cryptocurrencies. eToro is one of the few companies that offer daily analysis and evaluation of the cryptocurrency market. It is also important to note that the eToro daily cryptocurrency tracker analyzes the daily performance of each cryptocurrency with actual market data and movement, supported by certain events, factors and trends.
Through eToro’s other applications such as the Crypto CopyFund, casual traders can also rely on the eToro daily cryptocurrency tracker as a source of information about the market and make investments in cryptocurrencies that are expected to rise in value based on recent events and market trend.
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