Is it possible to day trade bitcoin and altcoins?

[Phantom Investor]

Due to its volatility, wouldn’t it be very difficult to day trade cryptos? Or is it best to just dollar cost average?

[palle11]

Volatility is very good for trade. You need volatility as a good trader to make money faster. You don't need a dull market because it slows the drive and things can turn around faster as you know to pin you down into negative. So I like market with high volatility as it helps you do a fast trade and get off the market.

[mk4]

Traders actually love the cryptocurrency markets due to the volatility; as with bigger moves, the potential rewards are high.. but so are the risks.

Completely up to you what route you're picking. But for most people that have no idea how to trade, DCA is the obvious way to go. https://dcabtc.com/

[ethereumhunter]

Yes, volatility for every coin will be good to trade, but not all coins can have good movements. With the volatility that happens in the market, you can expect to profit from the potential coins. But as always, you need to search for the coin to find the right coin. It could make you confuse to determine which coin to buy, and if you don't have an option of the coin to buy, you can buy bitcoin to trade.

[hongchao123]

Its possible but you need both luck and skill for it. And win rate is usually not so big

[fiulpro]

Due to its volatility, wouldn’t it be very difficult to day trade cryptos? Or is it best to just dollar cost average?

Hello

I would like to share my opinion on how it would be different for everyday. The price changes everyday but that too sometimes we are quite stable and sometimes it's very volatile and therefore it would depend on the market.
So a good trader would be well informed and would at the same time keep checking everything. It is more or less more profitable to trade cryptocurrencies. It's more Volatile and the dollar is not something that is even close to being Volatile right now.

I would suggest you to put alerts on your wallet and trading platform this way you will be well informed.

Plus right now ETH and BTC both are having quite a rally therefore go for it. But be careful.

[Janation]

Due to its volatility, wouldn’t it be very difficult to day trade cryptos? Or is it best to just dollar cost average?

You can day trade.

But you are also correct that it is difficult. Because of the volatility of Bitcoin and other cryptocurrencies, you can see fast changes to its price in a short period of time. You can take advantage of it if you wanted to day trade but you should consider the fees that you will be doing and the possible changes of that currency. Another thing is that you should also be vigilant to quick changes so you need to be alert and always watch the price chart.

[KenPope]

Yes, you can day trade bitcoin but it's not an easy work

[FlightyPouch]

It is possible to do that but that also means that you need to adapt to the fast-changing market of crypto currencies. I don't know if that is profitable but for me, I'd rather hold my bitcoin and altcoins rather than a day trade. It is not a hassle, I will not be spending most of them on transacting them back and forth exchange and I know that it would give me higher profits in the near future.

[Viscore]

Due to its volatility, wouldn’t it be very difficult to day trade cryptos? Or is it best to just dollar cost average?

At first, I think that volatility makes me lose but somehow I realize that it helps me to gain more than to make the trade in a stable market.
If you are asking Bitcoin and Altcoins are good for day trading? No doubt for bitcoin but if we are talking about altcoins, this is another matter because of many reasons [1] less volatile, [2] low market volume. If we are choosing altcoins to trade, we should have to consider most of those who have shows market positivity and been exposed to the market already.

[tbct_mt2]

Volatility is very good for trade. You need volatility as a good trader to make money faster. You don't need a dull market because it slows the drive and things can turn around faster as you know to pin you down into negative. So I like market with high volatility as it helps you do a fast trade and get off the market.

To have good market for trading, you need votality that you are right but you are missing a point. Volume is another condition to trade. You can not easily trade, enter and exit if volume is too low with your capital. If your capital is high, bitcoin is the best crypto to trade and for altcoins you must decentralize your capital to many altcoins and each of them need to have high volume enough.

The market has very good conditions to trade bitcoin last few weeks. Volume is high and many candles with price difference is more than $100 or $200.

[Gotumoot]

Due to its volatility, wouldn’t it be very difficult to day trade cryptos? Or is it best to just dollar cost average?

Isn't it a good thing for traders?
We used the markets volatility in order to make profit so if you couldn't ride it then it is better to just hold your crypto's.
I remember making small profits from quick trades because of the markets pump and dump movement.
You just have to get in and out quickly before it is too late.

[Rodeo02]

Due to its volatility, wouldn’t it be very difficult to day trade cryptos? Or is it best to just dollar cost average?

Traders prefer the crypto currency movement because the net movement is volatile and it is easier to earn as long as you know how to read the movement of crypto currency.

You can check daily gain of each crypto currency in https://coinmarketcap.com .

The crypto currency that gain a lot today is XRP which is up 31% so for example you have 1000$ last day invested in xrp you already earn 310$ in just a day trading it.

[Kong Hey Pakboy]

Volatility is the reason why the crypto market is very unpredictable, and it is also the reason why we make money because here we will start to learn to stay focus on our trading strategy, avoid letting our emotions driven us, avoid becoming too reckless, keeping our daily trading log, and be contented with our small profits.

[Nhor1011]

Due to its volatility, wouldn’t it be very difficult to day trade cryptos? Or is it best to just dollar cost average?

Actually, volatility is key to earn profit when you do trading either night or day trading. Everything is possible, all is depend on how you will trade your coins in order to gain. You should learn and know the movement of graphs and the price. Learn it very well, you should have a good analysis regarding that matter.

[Ludmilla_rose1995]

Precisely because of the volatility, traders find it easier to get large profits. If the assets being traded tend to be stable, why would investors trade their assets on an exchange? If you trade an asset with a stable price, it is very tedious and you only get 1-3% profit.

[Tamim121]

Due to its volatility, wouldn’t it be very difficult to day trade cryptos? Or is it best to just dollar cost average?

You need to select volatile coin for trading. Bitcoin is a volatile coin but in my opinion Bitcoin is good for long term investment. Not for day trading. If you want to trade daily then choose some volatile and potential  coin. By this you must get good Profit daily.

[kentrolla]

Yes you can, right now market volatility is the key for trading and now it's time for it, you can make more money in day trading but you have to focus market movements carefully but it's very risky too.

Also investing your entire amount in a single asset is not recommended, you need to keep an eye on three or four fluctuating coins for sure you can earn more money.

[blockman]

Due to its volatility, wouldn’t it be very difficult to day trade cryptos? Or is it best to just dollar cost average?

It is difficult based on my experience. But you can give it a try with a small amount that you can afford to lose and try it out to see if day trading fits yourself or not.
If that doesn't fit you, just do DCA and that worked for me and for others. Experts in trading can make a living from it but many day traders are just giving away their money and losing instead of profiting.

[Anyobsss]

Due to its volatility, wouldn’t it be very difficult to day trade cryptos? Or is it best to just dollar cost average?

I think volatility is a good thing for day traders, as they can really catch small and even huge profits in a short period of time. But I guess the volatility will work in your favor and will be advantageous if you know how the market moves and it requires skill.