The amount made with Bitcoin
Making money with Bitcoin requires ability to calculate and know the best time to enter and exist. Cryptocurrency is like other tradable assets, you should perfectly understand what the chart is saying. Trading chart is important tool needed for calculation and observation of market condition. It is almost impossible for an asset to be tradable if chart is unavailable. Charting represents prices and up-and-down situation happening in the market. Having knowledge about the tool is a needed skill that will be useful in your calculation of what to be traded.
Similarly, initial coin offering is the stage that many investors take advantage of. This is when a new coin just get launched on an exchange and it is believed to be a period of opportunity. When Bitcoin was first launched, those investors that came in early are certainty counting thousands of dollars in profit by now. Writer of this piece happens to be among the early purchaser of Bitcoin and gained some hundreds of dollars too. And, another profit making opportunity is set on Bitcoin chart just the way it recently occurred. It seems the $10, 000 dollar has agreed to be a support level, and it means an extensive move can happen soon.
The profit potential of Bitcoin is a high one and this can be easily seen from consistent trending it executed recently. It moved from $5, 000 to $10, 000 within few months and the movement seems to be continual. Its volume shows that investors around the world are still optimistic about the situation on the ground. As promising as the future of the coin is, precaution needs to be taken by the traders. There is no certainty in the financial market as the asset may turn back instead of keep trending up.
This is one of the reasons it is Important to learn and apply risk management the way it should be. Putting in a proportion of your capital should be a usable ideal whenever you are entering the market. No expert can’t be too sure of what the situation of the market will look like in the next few weeks. You may think price will go up while it comes down unexpectedly.
A situation of this type occurs at different times in various trading assets. Though, cryptocurrency has different structure comparing to other trading instruments. Bitcoin has low volatility and this gives it that stability which also gives confidence to investors. Those with large capital often prefer investment of stability and low capital. They would like an investment where their money is more secure even if they only make little profit.
Better still, a high trading skill generates some cash for professional traders. Inflow of dollars is experienced by skill trader that has good trading plan, and this is the aspect where majority like to belong. Most of participants are speculators that enter markets with the aim of making money within short period of time. They target small move and exist with little profit as quick as possible or within few weeks and months.