a friend of mine came to me and he asked, is it possible to invest in bitcoin and crypto for the short term,? which is to meet daily needs, and I am confused to answer because I am still a beginner in bitcoin and crypto. and I want to ask everyone about it?
So your friend asking out on investing on bitcoin and believe that he could get daily income or profit with it? The answer could be neither Yes or No.
Yes, on the sense that you could really make profits but you would be needing for you to be a day trader.Being profitable or being constant? This is where most people do try to do but majority
had been failed but there are actually people who do able to do so but of course only on few counts.
No, market is way too volatile and making yourself highly dependent on it would really be just creating that kind of desperation which is really
a very bad move to make.
Day trading makes a profit but not every day, I have never seen anyone who can consistently win in the market without losing even for top traders. Professional traders are just that their win rate is higher than their loss rate and as a result they are still profitable, but not every day they are profitable.
In this case, my advice would be no: don't view investing or trading as a job that can bring you a daily income even if you are a good trader. Be a person with a stable job and income before thinking about investing in bitcoin.