Bitcoin – Price movements oh boy!

Bitcoin the “decentral” money of the internet has some nice price swings. You may have seen bitcoin in the news in regards to illegal dark markets. However the the cypto coin does not go away and it looks like it is here to stay. From a trading point of view there are many oppertiuties and it is worth having a look at.

Bitcoin is not traded at brokers but directly on spot exchanges. There are also futures that are traded with up to 100x leverage. To get started with bitcoin trading if you are in the USA then you can make an account at coinbase.com and then buy some bitcoins. Once you have bitcoin then it is easy send it to different exchanges. You can also test out the altcoin market.

Bitcoin is sometimes very boring to trade. The price just moves a few dollars , but then out of no where there will be a big 10-20 or even 100$ candle. However after big sell offs or massive pumps you can set up some nice swing trades. If you are an intra day trader then you will also be at home shorting and longing with high leveage on the local highs and lows. The market is full of retail traders so it is a little different than your typical market. Another big difference is that bitcoin does not stop, it is 24 7 and 365 days a year. There are not any data releases like in other market but there are things that can effect the price. News infighting all kinds of things can make people irrational and have an impact in the bitcoin market.

Do not discount the profits that you can make trading bitcoin. Keep an open mind and check it out. If you want to read about bitcoin check out bitcoin.org bitcoin.com and coindesk.com