Is it still profitable to trade crypto while bitcoin is descending?


#1

Hi Guys,
Just want the title says and not sure if bitcoin is descending down or rocket up but from my research bitcoin for 2019 will not be a good year to invest in bitcoin. So for those knowledgeable gurus. Is trading crypto profitable even when bitcoin is going down?


#2

I’m no guru, but you can certainly make more Bitcoin by trading altcoin/bitcoin pairs, this strategy works if you are confident that in the long term Bitcoin’s fiat value will increase, if that’s what you’re interested in doing.

Personally, I just buy Bitcoin with fiat now and again, but trade bitcoin/alts to increase my BTC holdings, typically increasing my original BTC by 10% per month. Lately, I’ve been doing less since BTC is going sideways which makes a boring market. My favorites for trading are STRAT, NEO and ETH pairs with BTC.


#3

Yes it’s profitable to short bitcoin.
But only if you know what you are doing haha


#4

Yes, just do the opposite of what you do in a bull market. So instead of buying the dip, you sell the rallies.


#5

I wouldnt necessarily get into the business of shorting bitcoin to start with, however, if you imagine a up and down wave… buy low, sell high.

I will be making a wedgie bot in the near future and this waits for a price action… this will if it goes down rebuy at a lower value… or sell at a higher value… you gain more coin going down… and you gain more money going up if it is USD or whatever… so you can make in a bear market.

Just as a bit of insight, 2019 will be the best year for accumulating bitcoin and altcoins, get in on the party. This will be the period before the next bull run - I would estimate (my opinion) the net bull run isnt going to start before end of 2020 at the earliest.

Crash


#6

Heres my advice. Invest heavily in your education. Learn. Learn. Learn. Not from the guys doing TA but the people who actually understand bitcoin.

Forget trading.

Start thinking in terms of 5 years or the next decade or the next several decades.

Dollar cost average. Now is an excellent time to start buying bitcoin. But dont take my word for it…you’ll need to come to that conclusion on your own for it to matter for you…hence my earlier advice.

But what do I know, I’m just some random dude on the internet. Good luck!


#7

@heavilyarmedclown

Certainly agree. Trading at this part of the market is difficult. @heavilyarmedclown is very knowledgeable in this stuff… if you are wanting to trade I would really try practicing first… there is a practice site which gives you a platform to try it out with imaginary money…

Look for the Altcoin fantasy contest…in the bazaar.