A great trading opportunity at these BITCOIN prices

in #bitcoin6 years ago

1 BTC can currently easily make you a couple of Hundred $$$ a trade, perhaps even a couple of times a day.

Bitcoin is ranging a bit as it consolidates, but at this new price level that ranging is not to be sneezed at and is quite profitable.

It goes up a couple of hundred dollars and then it drops a couple of hundred dollars. It doesn't take rocket science to make a few hundred dollars a trade these last couple of days by swapping form BTC to USDT when its high and then swapping back from USDT to BTC after it has dropped a bit.

If you are holding some BTC in your portfolio it is not a bad idea to put it to work while we wait for BTC to gather a little more steam for the next leg up.

It seems to be moving up to the next level after consolidating in 1000 at a time, so the worst you could do is miss out on the next $1000 leg up. However if you have made a few trades before that happens there should have been enough profit made already for that not to be a net loss in BTC terms.

That is the risk if there is a sudden surge in price, however it also tends to pull back to similar levels after the surge so one can get in again to BTC after missing a surge.

The upside is that if BTC drops significantly you could be protected by holding the $$$ value in USDT.

There is more than enough volume on poloniex to get in and out with a couple of Bitcoins at a time and the fees at these prices are $20 - $30 depending on if you are a maker or a taker.

So if you are trading a difference of $200 to $300 in price there is at least $100 to $200 profit from swapping 1BTC to USDT and back.

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Great idea totally agree with you ;)

Be greedy when others are fearful - Warren Buffet. ;)

Works well in the stock market. Works extremely well in the crypto markets.

I find 'old school' tech analysis works an absolute treat!

Every dip has been a huge buying opp and you have had about 10 of them this year! $800 starting out then $2,000 when the markets took a dive from BCH and there have been countless others over the months since then.

agree. that's an easy and effective strategy. beginners should use it. relatively low risk

Good suggestion!i will try

This is super informative
Why didn't this post came earlier than now after i had lost bitcoin to fake companies.
Thanks for the info @sme

It works better now that the BTC price is higher

agree with you

@sme hi how r u
I up votied & like your post

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