Bitcoin trading offers a way for investors to create unique assets that have the ability to skyrocket into numbers that are unimaginable.
Veteran Bitcoin holders know that most cryptocurrencies are erratic and rocky, the falls are steep and volatile, while the gains are overly zealous and enormous.
This investment is every risk-takers dream or nightmare.
Bitcoin trading has flown to a high of $19,783.06 US dollars for one cryptocurrency coin at the end of 2017. In mid-August 2018, the currency fell to a lower price of $6,404.00 USD dollars.
Of course, don’t be alarmed if it falls further down, as this type of currency is very unpredictable.
An exhaustive amount of news sources consistently publish negative types of information about Bitcoin; finding the new low has never been so sought after.
Keep in mind, the discrepancy many people have before they dip their hands in Bitcoin is its ability to raise close to $20,000.00 dollars and drop to $0.00 dollars within the same day.
At the end of the day, if you are participating in Bitcoin trading, then it is wise that you intricately study the technicals and fundamentals to determine what a good low point is for you.
Don’t spend your savings, and do not count on being a millionaire, although one-day, you may just wake up a Bitcoin trading millionaire; a cryptocurrency king.
Spend and hold wisely; the technical charts prove that the market obviously values and holds this cryptocurrency number one.
- Large gains, enter a new socio-economic class (buy low, sell high or hold)
- Obtain a unique and digital asset
- Cryptocurrency is the money of the future
- Ability to liquidize your assets
- More companies are accepting this type of payment
- International transaction fees are more simplified and cheaper
- Bitcoin trading provides absolute privacy, as opposed to banking institutions
- Decentralized (if you are a victim of theft, you will not have a bank to back you up)
- Emotional highs and lows
- Darknet thieves and cyber crimes are not fully regulated
- Bitcoin trading is absolutely volatile
- If you lose your online wallet where you store your Bitcoins, this could possibly be forever
- Bitcoin is not offered in a physical form, you can retrieve your assets solely through the digital world
Bitcoin and Cryptocurrency Trading Simplicity
If you are a dreamer and you look at past technicals and fundamentals, then you may determine that this cryptocurrency—Bitcoin, has the ability to reach to $100,000 dollars plus, it all depends on your analysis and beliefs.
If you want to purchase altcoins, it is wise that you sign-up and obtain a trading platform account, some reliable companies include GDAX, Coinbase, Gemini, and Kraken; these platforms offer a simple way to purchase your Bitcoin trading investment with a debit card, bank routing number, or via a wire transfer.
If you feel safer erasing your bank data once you purchase your Bitcoins, feel free to do so, although, when you want to withdraw your profits, you will need to re-add your routing number or debit card again.
Luckily, cryptocurrency trading platforms offer a way to convert Bitcoins to USD currency before initiating a bank transfer.
Bitcoin Trading Offers High & Low Days
Bitcoin trading is erratic and manic, it all depends on how you decide to deal with it.
Be wise and set a budget for yourself, delegate a specific amount of funds to Bitcoin before you decide to dive into the world of cryptocurrencies.
This cryptocurrency is still new opposed to the good old Benjamin Franklin bills, so in general, it can go either way, what it comes down to is, you have to believe in it, to begin with.
Always keep in mind, Bitcoin trading has the ability to make or break investment habits and bank accounts.
The goal for every investor is to yield large returns from Bitcoin. Either you choose the sit and wait method, or you sell high on green days.
Bitcoin trading and cryptocurrency may not be for everyone, but it is certainly for those investors who seek progression. When investors do not take risks, they will not acquire large gains; it’s the way it works, and this is a fact we cannot change. Trade smart, watch your charts rise, and defy numbers that the stock market couldn’t offer you.