Is trading Bitcoin and other alts still profitable?

[squatz1]

I was a trader awhile back, I want to say about a year ago now and wanted to know what the current state of the market is for the traders that are currently trading to this day? I know a lot of the current exchanges that I used for trading, such as Poloniex, are still around but aren't really being used much as before.

I wasn't able to profit much but would like to hear how people are doing these days. Thanks a ton!

[1714829023]

1714829023

[1714829023]

1714829023

[OmegaStarScream]

At this phase? I'd say that holding is a lot more profitable then trading and It's probably safer but  If you decide to trade then do it for the long term and with coins with a good roadmap, getting involved in some pump and dump useless coins will only make you lose eventually.

[Fatanut]

I would say 'ceasefire' for trading right now because the markets are moving so much. A lot of my altcoins just died and I don't know if they are going to get back to their previous price. All I can say is that I regret trying to trade my bitcoins. It would have been more profitable if I held my coins. I was just about to try to trade when the price of bitcoin went up and so the price of all altcoins went down. I'd say don't trade right now if you are just going to start out. The market is sooo bad. One coin might seem really cheap but then bitcoin goes up again and the price of that certain altcoin goes down even more.

[Silberman]

I was a trader awhile back, I want to say about a year ago now and wanted to know what the current state of the market is for the traders that are currently trading to this day? I know a lot of the current exchanges that I used for trading, such as Poloniex, are still around but aren't really being used much as before.

I wasn't able to profit much but would like to hear how people are doing these days. Thanks a ton!

Trading is always going to be profitable however the conditions of the market changes and you will need to adapt to it, right now the market is very difficult you are going to be better off if you just hold your bitcoins, I think it is a better idea to wait for the market to calm down a little before you begin trading especially since you indicate that you only obtained some small profits in the past.

[Siren]

I agree, much better to hold bitcoins for long term instead of doing trading because of the price swings lately. Only those who are more experienced and really know what they are doing are really going for trading. Lately the price has been in the roller coaster, specially today, jumping from as high as $400 then suddenly dropping at $100. I believed there's someone manipulating today though that's why there's so much swings lately.

[ZFXToken]

Think about it this way, the majority of traders are unprofitable because of transaction costs and slippage... especially retail traders. Buy and hold requires a lot more mental fortitude but is often more profitable.

[bitbunnny]

Trading is still profitable but it’s harder than before, you have to spend more time and effort and the profit could be lower and harder to get. Especialy tricky are the altcoins because there are so many of them and the new ones appear almost each day so you have really be present on the market and study a lot which one is good and which one isn’t. Sometimes with holding Bitcoin you can earn more than with trading and the risk is much lower.

[bitqistchris]

Of course it is still profitable, but I think currently it is no longer the case that everyone is making profit (regardless of the coins someone owns). Maybe a dip is coming? Maybe there will be another massive 'pump? Who knows...

[Bezobraznike]

Of course it is still profitable, but I think currently it is no longer the case that everyone is making profit (regardless of the coins someone owns). Maybe a dip is coming? Maybe there will be another massive 'pump? Who knows...

   It is profitable, and I do not understand how can Senior Member ask something like this. He was active
years ago when prices were low if you compare them with prices now. Bitcoin is $6300, there are 10 more
alt-coins that worth more then $100. Market is in state of fast rise, if creator of this thread Senior Member
Squatz1 stored some of the bitcoins and alt-coins from his trading in past years then he is a rich now.
   Market is growing, no one is late to get more involved and there is a space for all of us. Look at how many
crypto-currencies are around us, many of them are good for trading.

[tora]

It is still profitable but there are so many coins around these days that are not worth trading. Check the trading volume on the exchanges to be sure there is a market. Arbitrage between exchanges is also possible,sometimes 10%, but charges can eat into profits.

[MissionPhailed]

Still profitable but nevertheless way more difficult than in the 1st half of 2017. Especially Q2 of this year was a period of making easy money/profit and even a rookie like me managed to increased my initial investment with roughly 2000%. However, the altcoin market has become extremely risky in the last few months as BTC is pushing back the alts gradually. A person I know invested 20 BTC this summer in Waves but decided to sell again while having lost 12 BTC. Only the most patient and experienced traders seem to yield a profit nowadays (though simply holding BTC is profitable as well these days)

[octaviomoreno]

Trading can be profitable all the time. But the important thing is the way you're doing it . The way you showing it will effect your result.

[hahahafr]

Trading is only profitable if you are a daytrader and you really know what you are doing, it has a lot of risks and it is not easy at the moment, all the altcoins are going down, and those who are in bullish trend are a few ones.
So if you are a newbie, you should know that it is not going to be easy, and if you are greedy as fuck and you only want to make hundreds of dollars everyday, you will lose your investment sooner or later.
The best thing you can do is just hold your coins for some months.

[omonuyak]

Trading is still profitable and I think now is the best time to invest in bitcoin and altcoins trading. We have seen some coins making 100* change in just 24 hour. Poloneix, bittrex, c-cex and so many others exchangers. However since you have stayed long without trading you should study the way price react to event as it us quite different from the way it is in 2015. Good luck to you.

[bs9]

I was a trader awhile back, I want to say about a year ago now and wanted to know what the current state of the market is for the traders that are currently trading to this day? I know a lot of the current exchanges that I used for trading, such as Poloniex, are still around but aren't really being used much as before.

I wasn't able to profit much but would like to hear how people are doing these days. Thanks a ton!

Now i am hold my bitcoin for a long time and i am expecting something better from here.So now i am hold only eth or btc because altcoin market down

[BlackBi88]

I was a trader awhile back, I want to say about a year ago now and wanted to know what the current state of the market is for the traders that are currently trading to this day? I know a lot of the current exchanges that I used for trading, such as Poloniex, are still around but aren't really being used much as before.

I wasn't able to profit much but would like to hear how people are doing these days. Thanks a ton!

At the present time you should only invest in bitcoin if you want to make a profit. The investment in altcoin requires good market observation because it is very risky. You can make huge profits or lose assets. 

[rjbtc2017]

Yes it is, volatility of Alts and Bitcoins  are still and always be there , therefore it's still profitable but at the same time its still risky. As of now alts is still in dip ( which is an obviously open opportunity to some to buy it when the price is still low) but recovering of alts is still unknown when it will happen or will it happen? And that's the risk.
As of now i still hold WAVES, the price of WAVES is still low which has a large margin between the current price from the price i bought it that's why i am not currently active on trading it. I'm still waiting even if it will take a long time, i'm still hoping that it will recover.

[Drnice]

Trading is still going on well, but holding of your coins now for a longer term is of more profit than trading immediately there is a pump or a dump,  cause every trader now is looking for a higher profit with the lowest risk.

[VanDeinsberg12]

I was a trader awhile back, I want to say about a year ago now and wanted to know what the current state of the market is for the traders that are currently trading to this day? I know a lot of the current exchanges that I used for trading, such as Poloniex, are still around but aren't really being used much as before.

I wasn't able to profit much but would like to hear how people are doing these days. Thanks a ton!

The trade still profitable among altcoin and the bitcoin itself. But the important thing you must know about a lot of people is holding their bitcoin rather than use it to trade on the exchange site.

The hardfork becomes a trend to the bitcoin holders which gives an ability to the holders to receive their own free money from the fork coin.

You must know about the fact that people are moving to the bitcoin and then after the hardfork will end and they will be moving towards altcoin again.

My guess if we are seeing altcoin right now and that will be not a good thing to hold long term. But this was not applying for some good altcoins with active development on the product and platform.

To hold bitcoin will be more preferrable.

[crazycatwoman03]

Trading is still going on well, but holding of your coins now for a longer term is of more profit than trading immediately there is a pump or a dump,  cause every trader now is looking for a higher profit with the lowest risk.

Right,  I have also noticed that.  The price of the coins is continuously increasing especially bitcoin  and holding seems more profitable.  When it comes to altcoins the price are low after the bounty distribution,  holding or setting order in a profitable price is much smarter. Most of my  bitcoins comes from trading  and because of the fork the value of bitcoin continue to increase.