Hello my dear Bitcoin brothers.
I would like to ask you about your experience with day/swing trading vs. long term investing and also,
what was more profitable for you and what are pros and cons for both ways of trading?
This question interests me since market is very volatile and it can get quite easy to exploit daily range for a quick small profit.
Thank you fellas.
Based from my personal experience, short-term investments tend to benefit me more due to fluctuations in the price in a short amount of time. Remember like 3-4 months ago when bitcoin prices skyrocketed up to $20,000? I instantly withdrew all of my coins and profited two-folds from it.
Every investor has their own experiences in trading. One might say that long-term investing is more profitable but others might argue that short-term is more viable. This depends on your goal as an investor whether you focus on the long-term or short-term perspective.
Long term or short term, both can give you profit. if you choose short term, that's sure you can't get more profit, you just earn the little profit. But if you choose long term, you can earn so much profits from them, although you must wait for the long time, but it's fair for me.
Considering how the market works better to say that theres no assurance to make profit both on long term and short term. The risk are high but if you are willing to take it Im sure its worth it. Always know what strategy you will use to prevent big losses.
That is why you need to be updated to the recent news about cryptocurrencies as it influences the price. People should regularly check the market volume for potential spiking and predictions but investing into cryptocurrencies are generally a 'high-risk, high-reward' system.