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 I quite agree with you. No matter what you do, you cannot be 100 % sure about what will happen the next day and obviously you cannot afford to be wrong at making predictions every time. But at the same time, I think thats what professional traders are all about. No matter what is the situation of the market, they know how to create the best for themselves. Trading is game which everyone cannot play.