I have been day trading Bitcoin for a few months now. Overall I'm pretty much making nothing and losing nothing. It seems to me that there is no logic at all to the market. No matter how much research you do, how much you look at the technical's and how much you try to hedge you absolutely can't predict the massive dumps that happen every day. They appear out of nowhere at random times and drop the market by $200 - $300 at a time.
This smacks of huge manipulation of the market. They are making it impossible to trade with bitcoin in any way other than a pure gamble. Anyone else noticing this?
Trading on a daily basis is the best option at the present time, you can see that bitcoin prices are constantly fluctuating and falling sharply during the past 6 months. The market is in a downtrend so short-term trading will minimize your risk, so ending the day, bitcoin prices will probably continue to fall further if the $ 6,000 mark is drilled and I'm really worried about that happening.