Investment Bitcoin Strategy-2
In this blog we’re going to talk about the second strategy which is day trading.
We touched a bit on it in the last few blogs regarding buying Bitcoin then selling it to the different ones to get the other ones you can sell it to a theory.
You can use the ethereum market to trade it in for any of the other ones.
And you’ll notice that the majority of these I believe if not all are also in the bitcoin markets.
USDT (TETHER) TRADING
So you can do that or you can take your bitcoin all the way to here and trade it for USDT which is as I said before just the exact same thing as the U.S. dollar just the digital version it’s like a digital coin of it.
That is meant to follow the U.S. dollar and that can also be a great way to buy and sell bitcoin alone because the U.S. dollar tends to kind of stay the same over time. It doesn’t really change too much maybe up 5 percent down 5 percent whereas bitcoin can go up hundreds of percent just like any other cryptocurrency if not more.
Over time that might be a great strategy where at a high point sell to USDT which is still a cryptocurrency. So you’re not actually cashing out. So you wouldn’t have to claim it at that time. And then at the low point when bitcoin you think is at the lowest point and it’s about to go back up. You can trade it back.
Now in that time you know if there’s a stock market crash for example this follows the U.S. dollar. The U.S. dollar would obviously go down in a stock crash. So again high risk type of thing. So it might be a good strategy as well. Again that’s more along the buy and hold you’re not really trading it back and forth the different stuff all the time.
SECOND TRADING STRATEGY
So let’s talk more about the second strategy which is trading now. Trading is basically you buy Bitcoin. You trade it to Neo at that time you have Neo at a certain price.
Let’s say it goes up by 30 percent or 15 percent or 6 percent whichever it is. At that point you decide to sell because you have a small profit. Now you own back Bitcoin again every time you sell or go back to Bitcoin in this marketplace and then from there you look for a different coin that maybe is down. So this one’s down Ark is down at 70 percent. You can see the last prices 3400 which is pretty much as low as it went in the last 24 hours.
So this may be a great time to buy because in the last 25 years it’s gone up as high as forty five hundred.
We’re going to hear you can see that there’s three red ones as I said before if there was a you know a series of red ones probably don’t buy at that stage. It might make sense to just wait a little bit until you see one of the Greens pop up and that is an indication that it might be on the rise. When that happens just ride it all the way up and sell.
So that idea essentially of day trading it’s exactly like buying holding on you’re doing it every single day and you’re flipping your coins constantly from Bitcoin to a different cryptocurrency back to,Bitcoin back to a different one constantly if not simultaneously all day long. And a lot of people do this action as a full time living. It takes a lot of skill a lot of time and it’s in my opinion a very unique special skill to be able to identify the market before anyone else can. Because you know there are hundreds of thousands if not millions of people online right now trading all of these crypto currencies.
They’re trying to find the next big thing. So most of them will lose money. And that’s why it’s kind of a great thing for the people who understand the market a little better and can do that. But again if you’re new to this day trading is probably not the way you want to go. Don’t try to beat the market if you’re new to this. It takes a lot of time to understand how the market works how the grass looks who is backing the you know the developers. You know there was a lot of things that influence all these coins and the way they change rate and then that’s kind of the they.
Take it upon yourself to do some research and you will explore day trading a little more in future blog.