Edit: If you want to make money in Bitcoin or even in the stock market. Wait for a trend to develop and trade off of it in the same direction. Don't try and time the end of bear trends or bull trends.
If you bet the same amount of money each time and take your emotions out of the picture you should be able to win more than you lose and make money overall.
It's a solid strategy, but makes more sense trading the common stuff like EUR/USD. With Bitcoin there's just too many variables that can change the direction fast.
the clearer a trend becomes the more likely it gets that the trend will end...If it would be that easy to simply buy into something because it goes up trading wouldn't work. If you buy there is always somebody betting on the other side of your trade.
I disagree, but that's what makes a market.
I do buy high sell higher rather than buy low sell high and it's worked for me for years.
The more simple your strategy and the lower number of trades you make the more money you make IMO.
What I mean is, you always buy it from somebody who thinks the price will go in his way... it doesn't mean he has to short it all the way up but still...
Some people here think trading overall is easy just because they were lucky a few times... it's not about being right all the time it's about being consistence in your decisions and not about being right all the time because that is impossible..
In the end it doesn't matter if the price goes up or down. That's what most people here will never understand when trading... Buy and Pray is not a good trading tactic long or short term..
You completely left out the reason for why trading really can be easy and free money, because there's always a huge amount of people seeking short term profits. You just exploit that weakness. It's why pawn shops exist. They're willing to hold something longer than 5 minutes to sell higher later. Even if 99% of people think Bitcoin is going to be worth $10,000 in 2020, it's still going to sell for peanuts now because we're not there yet and they need money now.