The reason of why Bitcoin is good for trading (for me)

[zonefloor]

I trade bitcoin just like you. In general, bitcoin is one of the most reliable units in the market. It breaks its own record by constantly catching a new ath in every bull period, and now there is a perception that even if I bought it from the top, there is a perception that I will go to a new record in the next bull period or, in the worst case, I can catch a exit from the price I bought. But this is not trade, as you say, but earning a small profit. In short, I trade with the same logic, and the flow is dripping.

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[ScamViruS]

A trader does not think like this, you are not actually a trader you are talking about holding bitcoins. You may not know how important charts, candlesticks, stops are to a trader. Basically you are a careless investor who has no ability to find the best time to invest. No one would have been so surprised if the inexperienced newcomers to the crypto market made such a statement. But everyone is surprised to hear such experiences from crypto users like you. However, you have mixed holding and trading in one place. You are more interested in holding, so think of yourself as a bitcoin holder rather than a trader.

[Inspiron14]

Is this your strategy? Then you Should better to avoid trading and only hold btc. Cause such way is dangerous for trading. Buying btc From peak may recover your capital durning bull session but till that, you Can't do any trade! Have you think about it? Thats bad idea, in my option. Bedsides real traders not only trade only with btc but also they take advantage with others potential coins if opportunity come

Yes when we only focus on Bitcoin for me it's like throwing away the opportunity to make a profit,
Bitcoin is better for long term investment and in between times we also need to look for potential coins,
even so it depends on the individual's decision.

[taufik123]

Yes when we only focus on Bitcoin for me it's like throwing away the opportunity to make a profit,
Bitcoin is better for long term investment and in between times we also need to look for potential coins,
even so it depends on the individual's decision.

The OP seems to be still confused about what strategy to use. When relying solely on Bitcoin to trade, it will give a fairly long return.
It is necessary to diversify assets to trade on other assets that have the potential to rise faster.
Just need to see the volume of coins that are higher and are hyped so that price movements are faster.

Traders will find profit in every price fluctuation, but long-term holders will only buy when the price is cheap and hold it until the main target price is reached.

[bettercrypto]

Indeed. Bitcoin price increase seems a bit slow, its volatility isn't as high as altcoins. So, it is difficult to expect earning profits quickly by trading Bitcoin. If we want to get profits faster, altcoins are a better option, especially the top altcoins. Altcoins can increase their prices in a short time, specifically if there is good news related to its project development. However, altcoins are riskier since the prices can drop more significantly, too. The prices are easy to drop whenever there is bad news related to the coins.

You are absolutely right that most people choose altcoin for trading, and the main reason for this is that altcoins are more volatile than Bitcoin. An experienced and good trader can make a good profit where there is high volatility, but for trading also your choice should be among the good and top coins of the market. Some people start trading in new coins where their capital is trapped when the price suddenly drops. Therefore, it is necessary to have complete information and analysis about that coin before trading.

I think Bitcoin should be chosen for long term investment rather than trading. This is because you will need more capital to trade in Bitcoin. Whereas in altcoin you can start your trading with less capital.

Whether we accept it or not, there are more and more people investing in altcoins because the chances of getting a really good profit in the future are high if you know how to choose or use legitimate altcoins in the market.

But if you don't know how to recognize potential altcoins in the market it will only lead to losses in the end as if it appears that you are just gambling that you rely on the odds or you get lucky that a trader should not be like that.

[Woodie]

First of all I'm not a real trader, but I like to trade to earn small amount profit.

Ugh actually you are a trader maybe not just a full time trader or something....

Amount of money you make from trading won't disqualify you from being a trader.

I only use BTC/USDT pair because USDT make me easier to determine how much my coins worth after trade and most liquid stable coin, the reason why I choose BTC is I don't need to worry about it when my trading goes wrong. So if I bought Bitcoin at the peak and the price keep decreasing, I will not sell it, but I will wait for the next super cycle where Bitcoin usually break new ATH.

Keep in mind I never learn about chart, candlestick, trend etc, all of my decision come from my mood and instinct. No stop limit, no follow any signal, no watching my PC for 24/7 etc, just directly buy and sell.

Is there anyone like me here?

Early on when crypto was getting established, buying bitcoin without the need to know how to read charts was not really something you could consider and you would get away with it and be profitable, but as times have changed its imperative to ahave these skills to get ahead of the game.

My advice spare some time to know how to read charts and alike.

[Aanuoluwatofunmi]

When you are new to trading,it’s good time to learn trading using your free time.The important one is you need to check,your credit card or debit cards accept by the exchange.Then buy some usdt using the exchange,then it’s easy to convert to bitcoin.The usdt was used to by more people to buy some bitcoin.Because the value of bitcoin was never changed,most of the time traders buy some usdt at the price dump time.

Be it trading or anything one has to do first in cryptocurrency must be begin with trading, you can't just jump into any coin and go ahead with your investment on them all because you wanted to have a trading experience when you're not knowledgeable enough in it, when bitcoin becomes our fors priority digital currency then we will know how to follow the learning procedures gradually and get used to it, then begin the trading without a waste of time than trying to risk other crypto currencies we don't know about for an investment trading.

[RewFrew]

First of all I'm not a real trader, but I like to trade to earn small amount profit.

I only use BTC/USDT pair because USDT make me easier to determine how much my coins worth after trade and most liquid stable coin, the reason why I choose BTC is I don't need to worry about it when my trading goes wrong. So if I bought Bitcoin at the peak and the price keep decreasing, I will not sell it, but I will wait for the next super cycle where Bitcoin usually break new ATH.

Keep in mind I never learn about chart, candlestick, trend etc, all of my decision come from my mood and instinct. No stop limit, no follow any signal, no watching my PC for 24/7 etc, just directly buy and sell.

Is there anyone like me here?

Dear Mate actually for trading you have to learn more. Without proper knowledge could not possible continuously profit. Some times profit is not good for your fund. You invested on Bitcoin it is great. I think if anyone invest on Bitcoin he will be profited today or tomorrow. But for trading you have to gather knowledge about trading and you have to gather knowledge about fundamental annalists and technical analysis. And you have to know about cryptocurrency market. Then you will able to profit contentiously. So i will advice you to learn more and more about trading and market analysis. Or you have to invest and hold for long time foe next bull run market.

[Faisal2202]

First of all I'm not a real trader, but I like to trade to earn small amount profit.
Is there anyone like me here?

Present Sir (haha), well but there is a small difference between us, which is currently i left this strategy of following my mood and instinct because it always stuck me with loss and the second difference is, when i used to follow this strategy i did not trade in BTC, i traded in ALTs, which makes it more difficult for me to wait because then there must be an action to take.

Like, stop loss/profit is necessary to put, plus these types of trades will always bring loss (well mostly will) but it also depends on your luck too, like sometimes we got lucky and earn more profit but sometimes not. So, it is better to follow the fundamental and technical analysis.

When you are new to trading,it’s good time to learn trading using your free time.The important one is you need to check,your credit card or debit cards accept by the exchange.Then buy some usdt using the exchange,then it’s easy to convert to bitcoin.The usdt was used to by more people to buy some bitcoin.Because the value of bitcoin was never changed,most of the time traders buy some usdt at the price dump time.

I think you took the context of USDT wrong here, as OP tried to say, he prefers to trade BTC/USDT pair because in USDt it is easy to count them as we all know, counting become easy when the numbers are not in decimal form. I think you are referring to USDT buying through CC which I do not understand, came from where in this conversation.

[nur rochid]

what I read from your post, you don't have a definite goal between trading and investing. the two should be separated, bearing in mind that daily trading does not always have to make a profit, sometimes there are also errors in analysis, and our job is to minimize risk when wrong in analyzing. if we have the initial goal of trading and the price goes down, we don't cut losses, over time we become like investing, so there is no daily income, even though by trading we are trying to find regular income, as the term trading for living

[savetheFORUM]

When you are new to trading,it’s good time to learn trading using your free time.The important one is you need to check,your credit card or debit cards accept by the exchange.Then buy some usdt using the exchange,then it’s easy to convert to bitcoin.The usdt was used to by more people to buy some bitcoin.Because the value of bitcoin was never changed,most of the time traders buy some usdt at the price dump time.

I wouldn't suggest or recommend anyone who is new to cryptocurrency to purchase USDT or Bitcoin as soon as they join an exchange, but they should first learn how things work around here, they can start by learning the basics of cryptocurrencies and then move on to trading and learn its basics and how the platform being used works and how they can buy and sell and place their orders and where they can check their balance, etc.

Once they learn all that, they should practice using a demo account, and they should only enter the market with real money once they think they are totally ready for it and that they can manage their trades well and won't just give away their money by making a bad trade.

[OcTradism]

I wouldn't suggest or recommend anyone who is new to cryptocurrency to purchase USDT or Bitcoin as soon as they join an exchange, but they should first learn how things work around here, they can start by learning the basics of cryptocurrencies and then move on to trading and learn its basics and how the platform being used works and how they can buy and sell and place their orders and where they can check their balance, etc.

They must prepare basics before they join this market. Scammers always exploit weakness in human psychology and if newbies don't understand basics about on-chain transactions and rules in peer-to-peer trading, it is very risky for them to deal with peer-to-peer trade partners who can be scammers.

If they withdraw coin from a centralized exchange account and the trade partner tells that did not receive the coin payment, and request that newbie to initiate another transaction, they will be scammed.

So understand about blockchain, on-chain transaction, block explorers are very basics before they invest or trade.

Once they learn all that, they should practice using a demo account, and they should only enter the market with real money once they think they are totally ready for it and that they can manage their trades well and won't just give away their money by making a bad trade.

They can register accounts and practice demo tradings on [LIST] Demo Trading Platforms

[justdimin]

actually for trading you have to learn more. Without proper knowledge could not possible continuously profit. Some times profit is not good for your fund. You invested on Bitcoin it is great. I think if anyone invest on Bitcoin he will be profited today or tomorrow. But for trading you have to gather knowledge about trading and you have to gather knowledge about fundamental annalists and technical analysis. And you have to know about cryptocurrency market. Then you will able to profit contentiously. So i will advice you to learn more and more about trading and market analysis. Or you have to invest and hold for long time foe next bull run market.

I agree with this, it is going to be an easy way of losing money if you start trading without first getting a good information and that's very crucial. I think it is quite important to remember that it is not going to be that much of an important thing if you just spend some time beforehand.

A lot of people are still seeing the situation as "easy to make money by trading because a lot of people did it" but just because some others made it look easy doesn't mean that it will be easy for you as well. It is quite important to make as much money as possible by focusing on what you could be doing yourself and the amount of money you could make from it. Just study, learn, be better and then you could do much more profit later on.

[Inwestour]

I agree with this, it is going to be an easy way of losing money if you start trading without first getting a good information and that's very crucial. I think it is quite important to remember that it is not going to be that much of an important thing if you just spend some time beforehand.

A lot of people are still seeing the situation as "easy to make money by trading because a lot of people did it" but just because some others made it look easy doesn't mean that it will be easy for you as well. It is quite important to make as much money as possible by focusing on what you could be doing yourself and the amount of money you could make from it. Just study, learn, be better and then you could do much more profit later on.

Successful examples of other traders always seem simple, but in addition to successful trades, they had many failures that they experienced and were able to draw the right conclusions. Trading requires good knowledge and the ability to analyze, monitor the situation on the market and keep abreast of the news. It's all hard to understand at first, but as you practice you'll understand more and more. There are very few successful traders, this is true, this activity is not for everyone, so if there are no good results for a long time, you should not despair and it might make sense to try your hand at investing, according to the experience of users of this forum, investing is almost always more profitable than trading on long distances.

[tygeade]

what I read from your post, you don't have a definite goal between trading and investing. the two should be separated, bearing in mind that daily trading does not always have to make a profit, sometimes there are also errors in analysis, and our job is to minimize risk when wrong in analyzing. if we have the initial goal of trading and the price goes down, we don't cut losses, over time we become like investing, so there is no daily income, even though by trading we are trying to find regular income, as the term trading for living

USDT was invented literally for that reason, and I can see why people would prefer that over anything else. It would be a smart decision to follow it up in dollar value as well because that is what the world is using these days and the more dollars you have the better, doesn't have to be in dollars, you could have bitcoin but the value of your bitcoin going up in dollar is still a good thing.

At the end of the day, when you want to buy something then you can do that with dollars, so you need to have more of that. There are a lot of people who end up with some mistakes here and there, but that doesn't mean it would be a bad idea, just do what you want to do and you could make a profit if you do it right, that's the key.

[nurilham]

You are absolutely right that most people choose altcoin for trading, and the main reason for this is that altcoins are more volatile than Bitcoin. An experienced and good trader can make a good profit where there is high volatility, but for trading also your choice should be among the good and top coins of the market. Some people start trading in new coins where their capital is trapped when the price suddenly drops. Therefore, it is necessary to have complete information and analysis about that coin before trading.

I think Bitcoin should be chosen for long term investment rather than trading. This is because you will need more capital to trade in Bitcoin. Whereas in altcoin you can start your trading with less capital.

Yes, altcoins are more volatile, so the prices are easier to move significantly in a short time. Trading expects the price move in a short time, it is different with investment that target the price change in the long run. Although Bitcoin price change looks more convincingly, but it takes a long time to see a significant change. We all know that halving is one of the factors of significant change in Bitcoin price. The halving only happens every 4 years, we need to wait for 4 years at least for the huge change. While for altcoins, the price can increase suddenly when there is good news related to the projects of the coins. But since it is related to the news, the is also bigger risks for a huge drop.

Indeed. Bitcoin is more expensive, we need a bigger amount of money to earn sufficient profits. While altcoins are cheaper, it is possible to earn good profits with less money in a short time due to its big volatility. However, the strategy is the main factor to determine how good the profits to earn.

[Flexystar]

First of all I'm not a real trader, but I like to trade to earn small amount profit.

I only use BTC/USDT pair because USDT make me easier to determine how much my coins worth after trade and most liquid stable coin, the reason why I choose BTC is I don't need to worry about it when my trading goes wrong. So if I bought Bitcoin at the peak and the price keep decreasing, I will not sell it, but I will wait for the next super cycle where Bitcoin usually break new ATH.

Keep in mind I never learn about chart, candlestick, trend etc, all of my decision come from my mood and instinct. No stop limit, no follow any signal, no watching my PC for 24/7 etc, just directly buy and sell.

Is there anyone like me here?

Yeah funny, I used to be like this long time ago but not anymore. I have told myself that Trading is not my thing anymore and I am better off with the Hodl of bitcoin. For this very reason whatever I am buying these days goes straight into my hardware or paper wallet and I am more than happy to hodl it like that. As you mentioned, when you lose your money on trading pair, all you do is hodl your bitcoin and don't sell them until the price bounce back. In my case I am just skipping all the trading buzz and going for buy and store it. :-)

I also tried to learn the trading a lot but failed every time and each time. I am not saying I made zero profits, but I made more when I am just doing dollar cost averaging. This has lot more impact as compared to wasting my time on TA and understanding the future pattern etc.

[Alpha Marine]

So if I bought Bitcoin at the peak and the price keep decreasing, I will not sell it, but I will wait for the next super cycle where Bitcoin usually break new ATH.

From the experience I have got with these kind of senario not easy as you think, I was cought up in 2017, bought at the top and the continues to melt down, it was a painful experience that each day, weeks and months I didn't see for once where the price come to my entry point to have the opportunity to exit the market. Therefore If eventually I bought BTC and it happens to be at ATH, where the price fails to make new highs, To be sincere it doesn't make sense to hold at that point and immediately I'm getting out of that market because I will have a better opportunity by applying DCA strategy to buy at cheaper prices while the price crashes.

It's very difficult to keep holding after you just bought Bitcoin and it starts going down.  It happened to me recently,  though it wasn't that bad.  It was just before the period network fees skyrocketed. BTC was about 27k or thereabout.  The next day it started going down and down. 
You know that the price will still rise,  but you can't help but feel uneasy.  It takes a whole lot of control not to sell at a loss.  Part of what made me not sell was because I occasionally have a few positives from the fact that price was not just constantly going down,  it increases by a few percent from the to time,  but ultimately the rate at which it was going down was worst.  Luckily it didn't last for a very long time. 

[ZAINmalik75]

<SNIP>

The thing you have explained look like it's some how holding, and I hardly believe that it's a good technique for any new investors in crypto who are not familiar with such kind of things, as I know it's almost impossible to predict the exact next move of Bitcoin price or any other coin so why not you should try to Use DCA, because when ever you taught that it's Bitcoin bottom and you bought while later it dump hardly about 50% to 80% more, So to avoid such kind of loss you should buy small small amount of any of your selective coin at every dump and after that one small bullish candel will benifits you high.

[Odusko]

What you are doing is not 100% trading but in fact you are just applying the DCA approach to your bitcoin so you are ultimately a holder, not a trader and that is what I can decode from all that you have said, bitcoin is the most suitable asset to hold for long term and USDT is the most suitable stablecoin that you can apply it cost to your bitcoin holding and profits taking approach.