How to benefit from Bitcoin ups and downs
As someone who holds crypto as a long term investment, I'm greedy (or bored) enough to try and make profit from the roller coster movements in Bitcoin and ETH and price fluctiuations. I tried to sell and buy when the price drops but I always get burned by unexpected pumps. I tried Algorithmic trading, it works until the market suddenly gets momentum or looses one then things go sideways. Anyone has a successful experience buying and selling crypto in the right moments to make profit? #bitcoin #crypto
you can't .. most people who try actually lose money. just buy and hold .. if bored you can buy xtz and watch yourself get %5 APR .. Eth will give similar return soon .. i think eth is the way to go.
Honestly eth has a high likelihood of 5-10x from here. Maybe this year, but very likely in 2-3 years
I tried doing that manually and realized that I am a terrible trader. Then I coded up a crypto bot that tries to make small amounts of money. It's performance has been pretty decent so far (up 20% in 2 months). Buy and hold would've made more (obviously in this market) but the goal is to minimize drawdown. Freqtrade on GitHub a great starting point.