Daytrading with Bitcoin a thing?

[dany]

I wonder if daytrading with Bitcoin is a thing, something people do?

If I invest right now 65K BTC chances are high that during the next 24 hours it will be 67K so I could sell it and make 2K profits in 24 hours?

 

[JohnnyDoe]

It’s like day trading any other instrument, 98% of the traders lose money or anyway make less than by just buying and holding.

 

[void]

I wonder if daytrading with Bitcoin is a thing, something people do?

If I invest right now 65K BTC chances are high that during the next 24 hours it will be 67K so I could sell it and make 2K profits in 24 hours?

if you don't have/know your edge then you can get lucky but surely lose long-term

 

[dany]

Why long term if I sell once I mean I have earned enough and if I wait to sell if it is not above what I spend on the coin? doing so I can't lose as long as I have no hurry to sell !

 

[polonieth]

I wonder if daytrading with Bitcoin is a thing, something people do?

If I invest right now 65K BTC chances are high that during the next 24 hours it will be 67K so I could sell it and make 2K profits in 24 hours?

Probably, but not successfully.

A day is not a good timeframe to be a successful trader.

 

[dany]

Probably, but not successfully.

A day is not a good timeframe to be a successful trader.

okay I see... so better look on 30 days or so ?

 

[polonieth]

okay I see... so better look on 30 days or so ?

I don't think that is the right question to ask. Bitcoin is down 4% in the last 24 hours, so in your example trade, which would earn you 2k in 24 hours, if it hit 67k, you're actually down $5k.

I am not a trader, but there are no hard and fast rules, most of them will base time frames on bull-ish or bear market conditions. Obviously, with crypto being so volatile, you can operate on shorter time frames, but IMO anyone pushing day trading is either clueless, or is able to make money based on the frequency of your trading i.e an affiliate of an exchange.

 

[mistaphi]

Why long term if I sell once I mean I have earned enough and if I wait to sell if it is not above what I spend on the coin? doing so I can't lose as long as I have no hurry to sell !

You are exactly right on this Dany... There's no doubt that the price of Bitcoin will continue to increase over the course of time and as long as you're patient, it'll pay off for you Big Time!

Hope you actually purchased some back in October and you'll be in the process of reaping the benefits today with a price of 100K USD. But even if you didn't buy in, it's still a good time to buy since the bull run is in full swing for this crypto cycle and will likely last until Oct-Nov 2025.

If I was sitting on 65K, I wouldn't buy 65K worth at the current price. Instead, I'd put in limit orders to buy 1K worth at 100K, another 1K worth at 99.5K, another 1K at 99K, and downward. This way, you'll be able to catch the dip and acquire more Bitcoin at cheaper prices. This can significantly increase your chances to profit for the short-term or long-term. You may not see 2K returns in 24 hours but if you use this strategy with a long-term vision in sight, you'll make some great gains. Consider this article of how Bitcoin has historically proven to be a great store of value over time - https://www.digitalcryptosolutions.com/crypto-news/bitcoin-the-ultimate-store-of-value

I buy, hold, accumulate, and sell every now and then when I see signals of a pull back. So I'll definitely take advantage of swing trade opportunities when I see them. Otherwise, I'm content with just increasing my Bitcoin holdings.

 

[dany]

That’s a really great article you’re referencing there, and I can definitely see your point. Bitcoin is rising significantly more than USD, EUR, and other currencies. I also get the idea of continuing to buy BTC as long as the market looks the way it does now.

The problem is, what if it crashes like a bubble bursting, just like it did three years ago? Then your $100, as in your example, would only be worth $20. If I needed $100 at that point, I’d have to wait 3-4 years to get it back.

There are people here on the forum saying that the next downturn will happen around February or March 2025. Others on OCT suggest it’ll be around October or November 2025! If it were just a 5-10% drop, that’d be manageable, especially if you made a 70% profit beforehand. But with the potential for these wild swings, it’s definitely a bit risky.

 

[JohnnyDoe]

Still obsessing about profits, market trends and price predictions after 16 years?
All the above could have been written in 2011 or 2017. This mindset shows that most people are still amenable to surrendering their precious btc for worthless USD at the first hint of fear or greed.
Time to wake up! If you like horoscopes, stick to the stock market or the shitcoins casino.

 

[dany]

@JohnnyDoe what you believe and trust in is that Bitcoin will stay for ever or as long as planet earth exists, like Gold did for thousands of years? You don't believe it can tumble down to say 500$ at any time anymore ?

 

[JohnnyDoe]

@JohnnyDoe what you believe and trust in is that Bitcoin will stay for ever or as long as planet earth exists, like Gold did for thousands of years? You don't believe it can tumble down to say 500$ at any time anymore ?

I’m not very much concerned about what will happen in a thousand years. Hopefully I will not keep living inside a MS-operated system or I will be busy with fixing bugs in eternity.

Anyway, you don’t understand (nothing to do with beliefs) that the USD will eventually be worth zero? Zero Bitcoin, zero stones, zero grams of bread. Nothing. This is the real concern.

 

[mistaphi]

That’s a really great article you’re referencing there, and I can definitely see your point. Bitcoin is rising significantly more than USD, EUR, and other currencies. I also get the idea of continuing to buy BTC as long as the market looks the way it does now.

The problem is, what if it crashes like a bubble bursting, just like it did three years ago? Then your $100, as in your example, would only be worth $20. If I needed $100 at that point, I’d have to wait 3-4 years to get it back.

There are people here on the forum saying that the next downturn will happen around February or March 2025. Others on OCT suggest it’ll be around October or November 2025! If it were just a 5-10% drop, that’d be manageable, especially if you made a 70% profit beforehand. But with the potential for these wild swings, it’s definitely a bit risky.

Consider the cycles my friend... Cryptos are on a 4-year cycle based on Bitcoin's halving and if you observe the historical charts, you'll have a better assessment of the timing and where prices are heading. If you're concerned about a bubble bursting, sell off your positions between Oct or Dec of 2025 b/c based on past cycles, that's when the price has peaked. However things have changed up quite a bit in this cycle with the approval of Bitcoin ETFs and the price increase that resulted from it. It's also worth considering that Trump will be in office (which will be good for cryptos over the next 4 years) and the fact that many governments, conglomerates, corporations, and global elites are stockpiling Bitcoin. So there could certainly be a change in this cycle where prices continue to progressively increase.

As they say, never invest more than you are willing to lose. But Bitcoin is the safest bet and the absolute best for long-term wealth preservation.

There may be a pull back in Feb or March but you should look at that as a buying opportunity because the price will likely reach greater all-time-highs before the end of 2025. Great time to continue buying Bitcoin and if you set up limit orders to buy on dips, you'll actually look forward to them; and you'll benefit from them as well. Also feel free to check out this Bitcoin wallet that helps you grow your Bitcoin holdings - https://www.digitalcryptosolutions.com/the-best-bitcoin-wallet This offers a great hedge against falls in the price of Bitcoin and will help you increase your stash over the course of time.

Always feel free to take profits if you want or need to. But rest assured that holding and progressively acquiring Bitcoin with a long-term strategy will pay of BIG in the future.