Bitcoin Forum

Bitcoin yesterday as scheduled up to break, but the price did not further break through 36700-37000 suppression area, the short-term trend usher in from weak to strong, so our short-term thinking began to maintain multi - single. If the top market breaks through to stabilize 37000 position, the price is expected to further march to 38000 line, we hope you will be prepared in advance. Below the short-term support were concerned about 35000, 34000 near the day to give the opportunity to light warehouse to consider multiple single admission

Ethereum back to step on the 1700 line, the recent market due to the inflow of funds, the market is also constantly up to break, the short-term trend gradually from weak to strong. The current high hit 2245 position, the strength of the bulls is strong, if the short term can again up to break through 2250 position, it is expected that the price will further test the above 2300. The upward trend of the day blocked, the price out of more than 100 points back, so our short-term operation or back to step on the main single, lower support attention in turn 2090-2030-1960

Prince also failed to further break through the day above 550 suppression, the current trend back under pressure, short - term downward strength is strong, but the trend of the day line level has not changed. In the short term, as long as the pullback did not fall below 480 for the position, the shock upward pattern unchanged, and if the subsequent market rebound through 450 line, the price is expected to further 477 day line in the middle of the suppression. The lower support concern 508-500, this look at 480 line

The price broke through 64 position as expected to rise again, short-term interval in the small upward movement, the follow-up focus on the 60 line, the callback did not fall through, is expected to concussion upside will not have much change, so our short-term thinking to maintain the majority of single, lower support attention to the position around 61, the top attention to the position around 68.7.

It's really an understatement in asking about the lucrativeness of Bitcoin and as a matter of fact Bitcoin is one of the first crypto currencies in existence and has been on appreciation right from it discovery. Hence, it should be taken seriously.

what is the result of trading Bitcoin when they have a large amount of bitcoin, for example, bought Bitcoin 10 years ago and came this year to make a profit?
as for if you come today and start with a small capital, it will not give maximum results. so why do we know Bitcoin since 10 years ago?
You also need to manage finances, you need thinking skills and knowledge that you have honed for a long time, and apply them to Bitcoin trading, master at least technical analysis, and know several types of trades.

but that's all you don't need to worry about, the most important thing is that you know Bitcoin today, and start with your full sincerity and love for cryptocurrency.
get to know crypto more deeply, and do research on how to trade properly and correctly.

bitcoin never promises wealth, but bitcoin at least gives us room to keep moving forward, and gives us the freedom, to improve our finances, whether trading bitcoin can make a lot of money, it depends on the market price, it is not easy to find wealth. it takes hard work ,and super extra mind to make a lot of money..

There is lots of volatility in the bitcoin market, meaning lots of opportunity to make money. Of course it's also very possible to lose money if you get stuck in a trade when the price drops and don't want to wait the days/weeks/months/years for the price to come back up to get out of the trade with a profit.

At this point I'd say staking is better than trading. Put a bunch of money in a staking coin, earn your income on it and wait for the coin to go up in price and then sell it. Then you are actually earning more coins without trying to time the market, and when the price goes up you can freely cash out whenever you want.

you are completely hopeless in any market and in trading in general if you think this way!
markets aren't some preplanned things where there is a schedule to rise and another for drop.

bitcoin market has proven time and time again that the major resistances to break is usually the round numbers. in this case it is $40k and it was tested a couple of times so it remains the strong resistance to look for. reaching any other price is not significant at all.

there is in no inflow of funds here. the funds are pumping other smaller altcoins while big coins like ETH are bleeding.

Asking if there's money to be made trading bitcoin or any other asset is like asking if there's money to be made by starting a brick and mortar business. In the end, it's only going to depend on the businessman's performance; or in this case, the trader's.

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Surely one can make money by trading Bitcoin or other altcoins. Even trading stocks or commodities can be rewarding as well.
It is just that your strategy, knowledge, and decision are important to make money. Obviously, other factors count in like panic selling, etc. because trading cannot be planned.
Recently with such up and down, it is quite possible to book some good profits out of many coins in the market. But one should hold their nerves regarding panic selling which might take more time to revive.

Yeah that’s a pretty common comment given by most of the newbie traders.
But according to me it’s only inviting losses to yourself.
If you just invest a big capital without proper research and analysis then definitely you will fall in losses.
What you can do is that try different cryptos IMO.
If you just Stick only to BTC, then you will surely get profit but not on regular basis.
BTC is basically made for long term investing.

bitcoin is only an alternative, and each alternative depends on how well you are able to manage it. bitcoin never guarantees you make big profits, but bitcoin can at least provide a long-term wait for your finances in the future.

because bitcoin is an alternative, then use this alternative as one of your methods in collecting various trading techniques.

I don't think so because basically bitcoin is a new type of currency with all its innovation. Something called a mean of payment must be valuable, and so is bitcoin. The high demand and limited supply make the price of bitcoin continue to rise out of control, which is different from other types of currencies, making it very possible for anyone to get double profit if investing in the long term. So, both in the long and short term, there are always gain and losses depending on who does it. This indicates that there is a risk of asset volatility whose price continues to be influenced by supply and demand.

Trading guides can't predict what will happen to bitcoin prices; unforeseeable factors are involved in price changes.
You could make some money from trading bitcoin, but you need enough knowledge and huge funds to start, the risk involved.
Diversifying your crypto asset for trading would make a lot of sense if you want to make more money.
Crypto whales are everywhere; there are players out there building projects.
Traders follow the trend. Just keep updated.

The bitcoin and the crypto market in general are not predictable and any trader the follows some prediction to make profit from this market will find himself losing a lot of money, every trader has their own way that they can profit from how the market flows, some just go for short term positions and have a large amount of bitcoin so a small change in the price could make them thousands, and some go for long-term and they just wait for key resistances that the price reach in order to buy or sell to make their profit.

I don't think it's like that, especially when we're greedy, where we're going to experience when profit becomes a loss, it's very sad I often experience it, so whatever I can be grateful for it will make a little profit feel more, at least we have nothing to lose from our greed.

I think it's not about bitcoin and the profit in it, It is all about how people handle the trading works on the crypto field because it doesn't mean that you will earn instantly if you do trading it needs more practice and patience to earn on the crypto, because of the high on volatility people will also possibly loss.

Definitely, there is money to be made in trading. Just imagine, you buy 1 btc=$32k and then this last few days it went as high as $35k, so there is profit already. But it's not that simple though, trading requires a lot of work and analysis so there is a learning curve to begin with and you might suffer a lose initially before you learn the tricks in trading. So if you are not willing to spend hours, then maybe, like the majority of us, prefer just to hold on it for long term.

This question has been asked in this forum for about a dozen times already and I think the answer will still be the same for me, if you have a strong foundation on knowledge and experience in trading, you will be able to make a profit out of bitcoin. Also OP, you need to move this topic to Trading Discussion because that's the appropriate place to discuss it.

Generally forex and crypto trading has billions floating on the market everyday and its there for our taking, but only available when we learn how to trade and stay profitable.

And in this case for bitcoin it's actually quite profitable because this asset is volatile ,which is a good attribute.

Well if anyone can make money, then it's all those short sellers or shorters who've been saying from day 1 that Bitcoin will never be X price again ever. I mean, if they only put money where their predictions are, then they should be shorting every rally, and making a lot of money. Imagine, we have been pulling back from 36k at least 3 times in 1 month now to 30k...

With leverage of even 10% that's 600% gains already without compounding.

Shorters have a lot of money for capital so they will definitely be able to make a lot of money, and if that's effective way to make money, why change it into something that is far inferior. Leveraging is a risky way to trade which could spell demise to your whole capital if you made a wrong decision. There's a lot of money you can make in trading but if you are starting from scratch, it's difficult to say that there's a lot of money in there.

Op you have really made more confusing thread than you have made helpful or simple kind of it. The numerous analysis should be supported by charts to guide followers. Like the points you made and breaks etc, should be pointed to for easy understanding of your analysis because almost all trader has their own kind of analysis.

As about trading bitcoin, it is lucrative . Trading is different from hodling.

Trading Bitcoin is a sucker's game.

Investing in Bitcoin however can be quite profitable.

Buy when you can. Sell only when you must.

If you have skills in trading, you will make a lot of money from trading bitcoin.
Besides that, it will depend on how much money you use for trading bitcoin because if you use less than $100, you will need more time to make a big profit.
But if you are not interested in trading bitcoin, you can buy and hold bitcoin as your investment and give you a chance to make a profit in the future.

Yes if you will have 100% trading accuracy. Imagine buying and selling at the right timing. But in reality this is hard to achieve and no one is able to do this, bitcoin's price is affected by many factors. Technical and fundamental analysis doesn't always work. A single news could greatly affect the market. People often think that it is easy to earn profit when you trade bitcoin or any other crypto especially on a bull market. They don't consider the risk if something bad happens that will cause the price to dump.

Shorters do not always have a ton of money, that is the idea of what wall street did to reddit and look where we are right now, shorters there ended up losing a ton of money in return. If the price wants to go up, then it will go up, all depends on the market wanting it to make it go up.

I have seen this coin go from under 4k to over 60k in a year, that is nearly 18x increase, that is not normal and people were doubting it all the way, from 10k to 20k to 30k to all the way to ATH price people doubted bitcoin to go up even more, and yet it did. So, if there is a market want for a higher price and we believe in it and start to bulk buy it all together again? That means the price will definitely go up, add in some famous people and big corporations going into bitcoin and you have yourself a new ATH on bitcoin price without caring about what shorters think or want.

Precisely and this is how should people be looking or thinking off on where they should able to get out and get in in the market for such situation neither a bear or a bullish market.
When you do intent to trade with bitcoin then you should really prepare yourself on how volatile this coin would be and outcomes and results of trades will really be varying on someones
capacity or capability on trading because not all would really be having the same experiences or skills on doing trades so numbers would be totally different to each other.
Asking out if there would be lots of money to be made then this is depending on how someone will be doing his job.So it all depends on you....

Well, short or long you do need capital, so I don't see the real difference, except that shorters also do tend to be scalpers (based on my forex experience) and with leverage anyway, you don't need such a big capital (without leverage you might be affected by lot or min buys like on crypto but with even x10 leverage you can easily commit much smaller funds to meet minimums). I don't like leverage myself, even if I did get back into trading (which is unlikely) it's still a scalper's gaming tools.

Leveraging 10x to short is too risky to me, a mistake will lead to liquidation of the whole portfolio, 3x to 5x is better,. alternative in shorting trades to earn profits however this depends on how experienced a trader is  thus a skillfull trader will make profit consistently irrespective of whether the market is bullish or bearish basically this has to do with proficiency in using both TA and fundamental analysis to predict price movement of course this can never be 100% however with money management such a trader will have edge over the market and make money.

10x is acceptable as long you do know on what youre doing but when it comes too realistic leverage or considerable ones then 3x-5x would really better which I do highly agree on this one.

Experience does really count but mostly noobs do really have that common mistake that they do really believe that leverage is just an easy thing to make money without realizing
that this is also the fastest way on getting liquidated once the trend do oppose on what you had set out.

Well, like I said, leveraging is far too risky for me, even if I did go back to trading (which I highly doubt I ever would unless I became totally rich and just wanted to have fun the way I gamble at casinos for fun).

I honestly don't see the difference with x5 and x10 (it's double the leverage which kind of makes it easier to calculate in tenths rather than 20ths) -- it's really just the experience and discipline.

Correct, there is money to be made everywhere, in fact those that are the richest and accumulate the biggest fortunes are the ones that create a market out of nowhere for something that people did not even knew they wanted and needed, and what better example of this than bitcoin itself and the story of satoshi, however it is not easy which is one of the biggest mistakes that those that want to earn money out of this market make, thinking that just because they are here they will become rich, when the opposite is way more likely.

This time the market manipulation made bitcoin hodlers experience a big ath value. Users who cashed out at the right time made good profit out of the market manipulation from the whales which caused the downfall. From the beginning days of the year there is regular price fluctuation which is required for making profit out of trading. I personally found this year is big for traders than hodlers.

There will be losses but that could be from the stop loss that you'll set. Both are profitable in everyone's opinion on which of the two they're good at.
If you're not very well at trading, go into holding and you'll also be profitable by doing that, I mean by doing nothing at all but you just have to wait until the price rises and you get to sell at a good profit margin.
And for the traders, they also make money from it but it really requires analysis and the basics of it to cope up the market.

Bitcoin at first doesn't guarantee me for huge amount of money to be earned once you're engagement in crypto become sustainable. On my personal experience, I only earned an optimum amount because of hardwork without knowing that btc would reach $60k by the time of bullrun.
If I learned to have patience and control those days that btc got a cheap value, maybe I used to hold those btc I got and able to take bigger profit this year 2021.

If you are shorting in the cryptocurrency market you need to have balls of steel because no one in the world can predict the price movement unless you are holding billions worth of coins and you are able to influence the market. Technical analysis and fundamental analysis will not fetch you anything meaningful.

I do consider all forms of trading in a highly volatile market as risky, but i personally like to invest during a correction and then wait till the price reaches a target price, it is zero risk and you will have your peace of mind and at the end of the day you can reap a good profit if you are patient.

Only if Elon Musk didn't play the market we shouldn't be here but I think someone must have been telling him that it's not the right time yet that he suddenly disappear after making profit during bullish price and now, he's back to his shitcoin shilling. I don't think people would trust him in the future but we can't deny that he's actually one of the reason why Bitcoin price reach an ATH.

Anyway, trading during those bullish time especially when the price reached $50k+ is good time for making profit. Hodling is different from trading it might take a long time but you will earn enough profit if you sell during bullish trend.

Most of the ways how people made money with bitcoin wasn't by hodling bitcoin. It was most likely by either trading bitcoin with leverage, mining ETH all of last year and selling at $4000, buying low/mid cap coins like Dogecoin, or buy getting involved with DeFI.

People who bought bitcoin before $20K using margin made the most money. Especially how there are 100x futures exchanges these days. There are times when you could of gotten a great position, which would of never went underwater and you would of been in profit immediately.

Next is miners who mined all of last year, held all the coins and sold when ETH was like $4000. Your little $2000 investment in GPUs could of net you probably over $50000. Considering each GPU would of maybe made an average of $10 a day. With 10 GPUs you would of made like $100 a day and difficulty was low last year.

Dogecoin was a big hit, if you bought at like $0.05 when the hype started and held all the way up to $0.75. Would of made a killing and same with people who got invovled with DeFI. Many started with $3000 and ended up in 7 figures due to DeFI.

Theres a cost to trading in time and money vs a potential profit, its really about timing and precision in application.   Theres the impossible question of when exactly does the price especially move rather then continually looping in circles tricking everyone.   Right this moment its fairly clear its just a loop and not that easy to trade till it breaks out imo

https://talkimg.com/images/2023/06/12/Ayq9T.png

Its not easy or its deceptively harder then it appears often.   Easiest conclusion at present is wait for price to be above the 50 day average, it seems to be some slow force crushing the range of price movement.

I find the same , Confusing thread and supported with nothing just a baseless speculation , I don't know if OP really understand what bitcoin is and how this market moves and perform .
I'm not sure about the manipulation , i believe that what we have back in ATH moment are legit investing and it is just the news that comes recently that makes the market down again but can you see?still staying stronger.

It is true that being an investor is safer than being a trader, because investors only need to buy Bitcoin and hold until the target is reached.
The risk is almost non-existent, because we only sell when the target is reached, if it has not been achieved we will patiently wait. In contrast
to traders, who must have the right timing to enter and exit the market. It's very risky because if we fail we can lose our money. Being a trader
not only has to have good analytical skills, But we have to be experienced too.

I think the correction would have come anyway but it would not have been as intense as people would have not panicked as hard, but once Musk began to say all of those bad things about bitcoin people that came here only to make money without any idea of what bitcoin is really about got scared and sold their coins to the whales and other smart investors, however now that the reputation of Musk is so low in this market I doubt he can pull this maneuver again.

On the time that someone had really messed up his reputation on this market then those bad impressions would really stick out till the end.The community might have fall earlier but not would be falling on second.

We are already fully aware with his scheme and tactics on where manipulative like kind of actions just for his own benefit.Yes, we cant deny that he's a billionaire and really capable off but once that kind of view
or image that he had built would last out forever.

Back on the topic about making a lot of money in trading? Of course you can but this would differ on each trader since not all would be equally knowledgeable or skillful.

It all depends on your performance. Even a street performer would earn money if they were to play wonderfully, what more a trader that knows what he's actually doing right? Even corrections and dumps would be opportunities as long as one actually knows what they are doing. Naturally, even the best traders would lose out though, so losing money from trading isn't anything new. Heck, most traders would consider it as a success if they didn't actually lose, and profits would only come after considering whether they'd even break even or not.

And like a street performer, a beginner trader that wants to make money out of trading should practice, gain experience, knowledge and wisdom, if you have all of them or at least the three of them, in my opinion you can become a successful and profitable trading.

if people weren't making money from trading then they wouldn't be trading. in any thing that exists in this world there is always someone who takes advantage and earns money and there is always someone who does not earn money and cannot see how others earn money. It's part of life, if we look at this cryptocurrency market there are many ways to make money, but in all these ways there is a high risk of losing money. speaking specifically in the case of trading, for people who trade with altcoins they can earn more money, at the same time it is clear that there are more risks, but the profits are greater, just that the person knows what they are doing