Is there really a lot of money to be made trading bitcoin?

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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.

[Philipruch]

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.

[Fesatmas]

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.

[ropyu1978]

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..

[thecodebear]

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.

[BrewMaster]

Bitcoin yesterday as scheduled up to break,

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.

If the top market breaks through to stabilize 37000 position, the price is expected to further march to 38000 line,

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.

Ethereum back to step on the 1700 line, the recent market due to the inflow of funds,

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

[mk4]

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.

[Zorayzbillionz]

Yes there is a lot of money to be made trading bitcoin and mining too
Many of people ask this question but the truth about it, you do need trading
But not trading alone,you need to start mining ⛏  to make more of it
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I make a lot of money Mining than trading!


You should know this,when you trade you lose or win right, but when you mine bitcoin
You always win  you don’t lose you make money 💰 not losing it and the truth about all is
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[dmamigo]

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.

[Nrcewker]

Of course, if you constantly increase your trading capital

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.

[tulusikhlas]

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.

[ShowOff]

BTC is basically made for long term investing.

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.

[swiftbits]

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.

[Shenzou]

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.

[indo1]

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.

[rhodelmabanal]

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.

[Dave1]

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.

[Lorence.xD]

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.

[Woodie]

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.

[slaman29]

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.