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?
Yes, its pretty obvious that you will see a huge jump then suddenly in matter of minutes the price goes -300%. So it really doesn't make sense to day trade.
Good that you look at it like gambling, very unpredictable and whatever tools you used are useless once those manipulators started to used their "magic wand" and turn the price to their favor.