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?
I believe that day trading is the best option at the moment to be profitable with the least risk. You can see that the market is fluctuating continuously and bicoin prices are constantly adjusting over time, so I believe you need to have clear trading plan, accurate analysis and always follow bitcoin pricing.