Post
Topic
Board Speculation
Re: What do you think about Bitcoin?
by
jaberwock
on 04/04/2022, 21:41:06 UTC
You just need to understand the market in general to trade where you may still be able to hope to make a profit just by buying low and selling high. But in reality crypto trading is not as easy as we think where many factors influence us to get maximum results in the end.

I wouldn't encourage new people to trade, but rather encourage them to invest where the risk they take will be worth the gain. Especially if they are interested in bitcoin then they will be safe to expect profits in the long run without being overly concerned about price volatility. So if they can focus on the initial goal then maximum profit can still expect rather than wanting to make a quick profit by day trading.
Buying low and selling high is not really that difficult in the crypto world neither. All you have to do is wait for a crash, which happens at least once a year, sometimes even more frequently and then you will just wait for it to go up to level you want to see it. That is literally all you have to do, but when it crashes something happens to people and they end up selling when it is crashing because they get afraid.

People need to realize is that you buy when it goes down, not sell and for some reason people never understood that. Getting scared of keeping your money in crypto just because it goes down is the exact opposite of what you need to do, when you realize that, you will do better.