Bitcoin Day Trading - Good or Bad?

[Chibson]

I think that almost all kind of trading methods and modes are risky. Purchasing cryptocurrencies at the market rate is also risky as well. This is why there are so many people who should be cautious about trading.

Trading is just risky as every other business both online and offline. You just need proper knowledge and very good risk management skills to become successful in it.

 

[GoldenLady]

Hey folks,
I'm interested in Bitcoin Day trading. I already have some experience with Forex Day trading and I've made around $100 in a month. Bitcoin, being more volatile, seems like a really great option. I would love to learn more about it and also whether you guys think it's good or bad.
Thanks

If you've had this much success with trading forex, then I believe you will excel with cryptocurrency. I learnt how to trade crypto first and I find that learning forex is more complex even though it's similar.

 

[Shahid987]

Day trading can be a good or bad strategy for trading bitcoin, depending on the individual trader's goals, risk tolerance, and experience. Day trading involves buying and selling assets within the same trading day, and it can be a high-risk, high-reward strategy. It's important to understand the market and have a solid understanding of technical analysis before attempting to day trade bitcoin. Additionally, it's important to have a strategy in place and to stick to it, rather than making impulsive decisions based on emotions. It's also important to be aware of the risks involved and to never invest more money than you can afford to lose.

 

[Abigael]

Bitcoin day trading is a great investment venture to try. I like it because you can trade no matter the situation in the market. You just need to have skills though. Trading without skills can lead to losses.

 

[Yaqoob Habib]

Hey folks,
I'm interested in Bitcoin Day trading. I already have some experience with Forex Day trading and I've made around $100 in a month. Bitcoin, being more volatile, seems like a really great option. I would love to learn more about it and also whether you guys think it's good or bad.
Thanks

The price of bitcoin is not fixed because sometimes its rate is high and sometimes it is low.Whose price in 2019 was about $ 65000 But now its price is around 23 to $24000 You can imagine how much loss and how much profit can be made to the person who controls it.

 

[Nomad]

I don't think bitcoin is for day trading, I believe bitcoin is a better asset for long term strategy. I am saying this based on my own experience . I once had 1 btc and I traded for $900 and now look at the price? You need to invest in bitcoin for at least 5 years.