Should I buy back in or do you guys think it might drop?
Im more of a day trader so any advice would be hugely beneficial.
New to this but happy with making a grand.
In your situation, you are already in a profit and if you are here for a short term gain, then probably you should be contented on your profit but, if you are seeing the bigger picture and have patience to wait for another years, then probably it is best that you should buy now. Halving is about to happen and that alone can kick the price up. But still it is your call.
Right, it depends on the choice and how much capital he has, if he can halve for long-term investment and for quick profit then it will be better because the current situation is very fast rising and falling prices. So choosing to be a day trading is also not a problem as long as he is satisfied with the profits and not being too greedy is the best way in this situation.
There are simple small tricks in this kind of trading, like you leverage it against yourself so you never lose too much, for example if you are not sure if bitcoin will be going up or down then you buy a bit of long and short as well heavily on the side you think it may do, for example if you think it may go up but not sure you risk 1000 on buying longs and 100 on short but leverage the short high whereas not leveraging the long too much.
That way if it goes up you will make money on small leverage but 1000 investment, if it goes down then you will still make some because you have 100 dollars on high leverage. Don't get me wrong you will not make too much money this way but at least even if you are wrong you won't lose too much money and will be still fine.