by Jerry Mooney
Bitcoin trading has become a lot more popular recently, people are no longer scared of it and are keen to try their luck to make the most money from it. Bitcoin is strongly becoming the more popular cryptocurrency in the crypto market at this present time. One thing is for sure, that although there are a few things that need to be ironed out with Bitcoin, it’s certainly not going anywhere.
However, the only thing that you might be questioning at this present time is – is it still possible to make millions from trading bitcoin? The simple answer is answer is yes, all you have to do is look around you. Everyday there are self-made millionaires who have made their fortune from crypto investments, so why shouldn’t you be able to do the same thing?
History of Bitcoin Trading
If you are planning on trading bitcoin, then it’s important that you understand the history of bitcoin. It was established during the recession in August 2008, a few months later on the 3rd January 2009, the Bitcoin network went live. In the early days, no one really understood it, so it was being traded at the low price of .06c a coin. The main reason behind this is because no had really heard of it or understood it.
It wasn’t until 2013 when the price of the bitcoin really started to go up, reaching a price of $1000. However, it didn’t stop there. By 2017, it reached a new high of $175000. That’s a massive surge in price, so why did it happen? Well everyone, from your simple Joe to your sceptical accountant wanted in on Bitcoin. All this popularity and hype that surround Bitcoin is the reason why the price went through the ceiling in 2017.
Things You Need to Consider Before You Trade Bitcoin
If you are new to Bitcoin, then there are a few things that you need to know. There’s nothing to worry about, it’s fairly easy getting started with bitcoin. For starters, you will have to set up an account with an exchange (assuming you’re not interested in mining). If you are just interested in buying and selling bitcoin in the short term, then there are a few other things that you can do to make your life a bit easier as well.
For example, if you are interested in making your life a lot easier as you trade bitcoin, then you could consider automatic trading, with a bitcoin trader. If this is something that you have never heard of, or are worried that it is a scam, then you should check out this bitcoin trader scam review to give you a better insight into what it is all about. Just to give you a bit of an idea of how it can help you, according to market news, if you trade at Bitcoin trader then the signals ensure a return of some 88%! So, it’s worthwhile consider it.
Establish a Trading Strategy
If you are considering trading bitcoin, then you need to make sure that you come up with a strategy. You need to have a plan established before you even start to trade, otherwise you might lose out on a lot more then you are willing to give. You might also want to consider doing some research when it comes to bitcoin trading. This is because if you want to make profitable returns, then you’ll need to be an excellent short-term trader. For this to happen you need to study and learn as much as you can about price patterns etc…
If you trade bitcoin, then you can easily make a huge profit. But only if you know what you are doing. There’s no point trading bitcoin if you don’t understand it. It’s also important for you to make sure that you have a loss limit, just to make sure that you don’t lose everything. If you are still interested in trading bitcoin then you can check out this article here for more information four ways to earn more coin.