With the unpredictable changes in bitcoin price people have chose to hold instead of day trading,I mean the majority have.
How risky is day trading at the moment?
Day trading is a rather risky business. But at the same time trading in the day you can earn a lot. Large earnings are usually always associated with high risk. In the crypto currency market, there is very high volatility.
There's risk whichever way we trade and a trader's business is not to wish the risks were not there but to become able to manage them effectively. If the market where to be without any risk, we wouldn't have been here talking about trading, because there would be nothing to gain out of it.
Like they say, knowledge demystify mysteries and knowledgeable traders do not stand in the way of the market, rather they create ways like ants to circumnavigate an obstacle. For instance a day trader can after ascertaining the dominant trend of an asset, settle to place trades only in the direction of the trend, thereby refusing to swim against the tide and greatly increasing their chance of ending in profit.