Is this a viable way to make money with bitcoin?

[cutieCOINbabe]

Thanks for input! Also, where would be a good place to do my buying and selling?

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[Zonata]

In theory, this could work. But you have to be able to predict accurately the market direction to do so. I believe you are more likely to buy at a high price and ride it down to 300$ where it should settle in the coming weeks. If you want to do swing trade (that's how it is called in stock), you should buy when BTC is out of favor (when it gets beaten down) and wait longer for a good price. It is safer, and I believe your profit will be bigger (over a longer period).

[mladen00]

What about situation when Bitcoin start to fall ( for about 2 weeks)?

[marcotheminer]

You have no assurance it will rise though

[maurya78]

Yep, fractions of btc are no different from a full btc - they are just units that can be traded for profit

[btcperth]

Most likely the problem with this approach is the fees charged when converting the bitcoin back into cash.
Also exchanges often have a minimum withdrawal amount which could be say $100 or $1000.

[Lethn]

You would make money in dollars but if you wanted more money in Bitcoins then you'd need to do something else, I've managed to make Bitcoin trading altcoins a bit on the price swings, it depends on what you're after really, I wouldn't consider myself making worthwhile cash in dollars because I know it's getting hyperinflated.

[grangonzo]

Well...

now you would be spending $8500.
If you sell when it is at 950, you get $9250 right?

Did you earn money? Easy question to answer...

[Zonata]

Well...

now you would be spending $8500.
If you sell when it is at 950, you get $9250 right?

Did you earn money? Easy question to answer...

The question was:"Is it a viable way to make money". Your answer has nothing to do with the question. In theory, with FOREX you should be able to use that strategy to become millionaire, but in practice most investors lose money. Bitcoin might be easier, but get the wrong timing and instead of changing your 100$ to 10 000$, you'll end up with 0.02BTC and you'll have spent a lot of time.

[tasorrog]

I think the best way is to try different things and see waht works the best

[mantorus]

yes i think its good becoz low risk since low amount

[WayTooGosu]

If you have a lot of money to invest, you can buy low and sell high.

[tescomatty]

Yes, but it is not so easy to trade. I guess most traders are worse than just buy and hold strategy 

[odolvlobo]

Is it a viable way to make money?

No. If it were so easy, then everyone would do it and we would all be millionaires. The truth is that for every winner, there is loser. Do you have the knowledge, expertise, and ability to ensure that you are not the loser? No.

[hairfallen]

You can. It is upto you, you may suffer loss, or get profit. Keep calm when you get both.

[kensai187]

Combined with fees and instability I'd say probably not but all imo of course