Is there money to be made from trading Bitcoins?

[Hammerhead]

I've just been reading about Bitcoins and how their exchange rate can move dramatically.

Surely such volatility presents an opportunity to make some money.

Any bros have experience with Bitcoins?

[IExperiment]

I've just been reading about Bitcoins and how their exchange rate can move dramatically.

Surely such volatility presents an opportunity to make some money.

Any bros have experience with Bitcoins?

Yes stay away from it I did made some money from Bit coin a few months back when it was not on daily trading. It reach $1047.05 just after 1am.

[Bracket]

After bitcoin's recent rises you'd have to think that the trading opportunities lie in shorting them, but in the short term, as the saying goes, "the trend is your friend".

[IExperiment]

After bitcoin's recent rises you'd have to think that the trading opportunities lie in shorting them, but in the short term, as the saying goes, "the trend is your friend".

Its been going up for a while now Bracket even yesterday was around the $900 mark this after noon was around the $1050 and just than it hit $1100.

I wont be shorting and staying out of it this one cause it end daily at 11am. I just check I bought some on the 24th October open for 188.66 and closed at 210.84

I short yesterday and lost :) this morning I short it at $1090 lucky it drop to $1050 and I ran :) now 1161.

[jaddict]

It's all over the place :\

A day or two ago it was at $900 ish - today it's at $1150 already. It'll probably drop again soon but then creep back up even higher if the trend from the past few weeks continues :)

I hope it keeps going up because I'm running mining gear and close to breaking even on my miners within a week or two!

Bitcoin is full of constant regret though.. i.e. regret buying back when it was really cheap.. or regret selling already just before the price jumps up again.. i.e just a few months ago I bought a few BTC at $140 each.. and sold it at $220+ a while later.. now if I kept it for a month, it would pay for a lot of punts :p

[sitomast]

If you know how to trade in the financial markets, forex for example. Then you can make money on cryptocurrency as well. It's easy for traders, but if you don't know how, don't touch it. Only you will lose your money.

[Fred Flintstone]

Crypto is not based on any economic data and therefore impossible to predict the trend. It’s pure speculation. It’s value is not underpinned by anything other than hot air. You might as well put your money on red at the roulette table for slightly under 50% chance of doubling your money.

[Mr Fugly]

I've just been reading about Bitcoins and how their exchange rate can move dramatically.

Surely such volatility presents an opportunity to make some money.

Any bros have experience with Bitcoins?

Mate... I lost over $100k on this shit... you are better off to stick your cock in a vice and screw it shut until you scream for mercy... never.. ever touch this shit because it's unregulated with no protection at all... it's like getting ass raped by a gay with monkey pox and hiv.. it'll fuck you over!

[Radoush]

I am into Dripp you can look into it just put $100 down to Start with and wait 3 years if you had put $100 on Hex at the start 2020 you could have sold for $200K in November 2021 I am loading up on Pulse X in a few months time but I look at crypto like gambling

[krnboy]

Better investments elsewhere. You're better off to invest into ETFs or companies that pay you divvies.

Make your money work for you over time.

[GoldfishMan]

Mate... I lost over $100k on this shit... you are better off to stick your cock in a vice and screw it shut until you scream for mercy... never.. ever touch this shit because it's unregulated with no protection at all... it's like getting ass raped by a gay with monkey pox and hiv.. it'll fuck you over!

Let me show you what “regulated” gives you.

There’s a gold mining stock X64 on ASX. Has about $110m cash in the bank, has a producing gold mine making pure profit every year, MC only $130m. Its PE ratio is about 4 and dividend about 12%. That means you will get back all of your invested capital in “free” money if you hold for about 8 years. It’s MC has never been higher than $150m in all its history (Used to be MML).

On the other side of the spectrum, take a look at ZIP. Made a net loss of $1.1b last FY, has an MC of a little over $600m. That means it lost almost double its entire company value in a single year of trade. Yet this stupid company (and business model!) had once been valued at 20x the current valuation. Can you imagine how many poor souls have been burnt by this Ponzi scheme?

Go fucken figure. “Regulation” gives you nothing but a false sense of security. The market is still being played by the same bunch of hype chasing idiots! The only way to profit in this game is to go along with them and be FAST. Fast in selling when you need to, or buy when you need to. That’s the only rule of the game, unless you have insider info or you personally know the whales that dictate market movements.

[Huzup]

Looks like you know a lot about the market (s)
Care to share any more? X64 im now looking into it 😅

[GoldfishMan]

Looks like you know a lot about the market (s)
Care to share any more? X64 im now looking into it 😅
Don’t look into it bro. It’s a basket case. Lacks big investor backing. I wouldn’t say it’s the only thing you need but it’s a major one. A stock with the greatest prospects is nothing without major investors. You’ll end up with many many weak hands ready to sell any time they can make a small profit or see a sign of trouble.

Also stay the F away from BNPL stocks. The only people who might do well in this phase are those that are in for a quick buck. Those that “believe” in them, or those that dream of achieving past glories of 20x investment will be burnt to a crisp. Watch what happens next week. JP made a huge announcement on Friday, will scare the shit out of any investor that relies heavily on leverage… IP holders, BNPL, etc all gonna be fucked!

[Monkeyman98]

If I had spent all the money in the shop instead of wasting on Bitcoin I'll be swimming in girls. Lol

[Huzup]

Don’t look into it bro. It’s a basket case. Lacks big investor backing. I wouldn’t say it’s the only thing you need but it’s a major one. A stock with the greatest prospects is nothing without major investors. You’ll end up with many many weak hands ready to sell any time they can make a small profit or see a sign of trouble.

Also stay the F away from BNPL stocks. The only people who might do well in this phase are those that are in for a quick buck. Those that “believe” in them, or those that dream of achieving past glories of 20x investment will be burnt to a crisp. Watch what happens next week. JP made a huge announcement on Friday, will scare the shit out of any investor that relies heavily on leverage… IP holders, BNPL, etc all gonna be fucked!

Thanks, after the CPI index came out and powell’s speech.
In Asx i have prl and vas, on nadaq ive invested in alphabet, qld and pg

[birch]

I am into Dripp you can look into it just put $100 down to Start with and wait 3 years if you had put $100 on Hex at the start 2020 you could have sold for $200K in November 2021 I am loading up on Pulse X in a few months time but I look at crypto like gambling

There's plenty of legitimate stocks you can look at with 20/ 20 hindsight and say if I had bought it back in ~2020 for x it'd be ~20x today... at least with legitimate stocks you know what you are buying because they a regulated to tell you fairly precisely each and every year...

FMG, Tesla, WTC, PME are some examples...

[punter00]

Wow talk about a thread revival lol

[Huzup]

There's plenty of legitimate stocks you can look at with 20/ 20 hindsight and say if I had bought it back in ~2020 for x it'd be ~20x today... at least with legitimate stocks you know what you are buying because they a regulated to tell you fairly precisely each and every year...

FMG, Tesla, WTC, PME are some examples...
Ive been interested and eye balling fmg for a bit. Maybe its a sign lol
Cant go wrong with twigs

[curiousgeorge1023]

There's money to be made in Bitcoins and really any asset class in the Financial Markets IF YOU KNOW WHAT YOU'RE DOING, Time Horizon and Opportunity Cost. That being said bearish sentiments is still in control from any timeframe that matters for bitcoins. Looking at the weekly chart currently it looks like the bottom is NOT IN YET, Im aiming for around the US$12k - $14k as a bottom price this current bear Market cycle. 😁

[GoldfishMan]

There's money to be made in Bitcoins and really any asset class in the Financial Markets IF YOU KNOW WHAT YOU'RE DOING, Time Horizon and Opportunity Cost. That being said bearish sentiments is still in control from any timeframe that matters for bitcoins. Looking at the weekly chart currently it looks like the bottom is NOT IN YET, Im aiming for around the US$12k - $14k as a bottom price this current bear Market cycle. 😁

My dude, why would you go full TA in the middle of a huge macro event? Rising cost of money is causing a paradigm shift in how everyone invests in all asset classes.

TA only works when everything is "fine". You use it to try to predict what people will do next by looking at buy/sell volumes at price points, try to identify support and resistance levels. All this is great without external events messing up your analysis.

With the rising inflation and interest rates, almost every major announcement (CPI, interest rate hikes, another Jackson Hole type speech, even how the war is going in Ukraine, etc) will invalidate your TA.

That said, good luck bro!

[curiousgeorge1023]

There has to be some sort of strategy in Investing. While I agree that in Major Catastrophic events ie. Corona Virus Dump ( March 2020 ) TA is useless on that day. But for the most part the Financial Markets gives clues thru Macro Price action on what to expect in re pricing asset classes. A break of structure is a break of structure in price regardless if its caused by an event or just over-all sentiment of the Market 👍

[gpeck80]

Better investments elsewhere. You're better off to invest into ETFs or companies that pay you divvies.

Make your money work for you over time.

you can buy crypto, and then "stake" them and get a dividend that way.