As the popularity of the cryptocurrency market increases so does the volatility. The increased focus from mainstream media has led to an incredible surge in the number of people looking to invest. Many of my friends and family have long known about Bitcoin, but for the first time, I'm getting texts on a daily basis asking how to start investing. This user growth, while great for the future, has led to dramatic fluctuations in prices.
For the most part, I had adopted the strategy of buying and holding my coins, for fear of short-term gains resulting in less long-term profit. However, the nearly daily 20% fluctuations in major currencies such as Litecoin, Bitcoin, and Ethereum, present a renewed opportunity for day trading. Despite this, if you had held Litecoin over just the last seven days, you would have more than doubled your money and it is hard to imagine day trading leading to significantly larger gains.
I am curious as to whether anybody has shifted their investing strategy and is trying to cash in on this volatility or if you are sticking with a long-term strategy.
I like to day trade and am doing good currently. Honestly, I just put all my profits in my top 3 alts. I suggest that to everyone, try to put at least a little money into your top 3 alts every month. That strategy alone makes me a lot of money.
If you are willing to share, I am curious as to what your current picks are.
@mpearce Of course, steemit is all about sharing. I have been sitting and reinvesting in LTC, XRP( believe me the price of ripple will rocket, just give it time, also its 0.25$ so its a great first investment), EOS( hopefully the new ethereum, although they have minor bugs currently)
Heya, I've always been holding coins for long periods of time until recently (mainly BTC,ETH,LTC etc) but I have recently found the time and capability to start day trading; using phone notifications I would buy and sell BTC and LTC when it peaked or dipped. Making over 2.3x my money on LTC instead of the 2x had I simply held it. Feel free to follow for any tips (mainly memes lol)
I think a load of retail investers are and will continue to figure out how the crypto exchanges work , We will see retired folks day trading these coins for certain .. They can and will be trading as its so much easier than the stock exchanges due to the need for much less capital to dabble in this game .. This is just the infancy as the press is all over crypto currency and blockchain technology .. Expect to see volume continue to increase dramatically !!
Muy buen post, felicidades!!
¡Gracias! Esto parece un gran sitio web.
With 4x as many Litecoin in created as there are Bitcoin, in addition to boasting a block confirmation time 4x faster than that of Bitcoin, Litecoin is profoundly undervalued. Bitcoin’s current value stands at just over $17,000 to Litecoin’s $216. Wake up people #LTC
This seems especially relevant considering how many unconfirmed transactions Bitcoin currently has (100,000+)!
I just recently day traded 5 dollars to try out and made 5 dollars by day trading bitcoin and litecoin. I do think day trading crypto can have a huge impact on making crypto millionaires!!
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