Why is it benefitialto consider trading Bitcoin?

Day trading bitcoin means that you’ll open and close a position within one single trading day – so you won’t have any bitcoin market exposure overnight. This means that you’ll avoid overnight funding charges on your position. This strategy could be for you if you’re looking to profit from bitcoin short-term price movements, and it can enable you to make the most of daily volatility in bitcoin’s price.

Trend trading means taking a position which matches the current trend. For example, if the market is in a bullish trend, you’d go long and if the trend was bearish, you’d go short. If this trend started to slow or reverse, you’d think about closing your position and opening a new one to match the emerging trend.

The idea behind Bitcoin was introduced to the world on Oct. 31, 2008, at the depth of the financial crisis by a pseudonymous person called Satoshi Nakamoto. On Jan. 3, 2009, the blockchain was launched when the first block, called the genesis block, was mined. The first test transaction took place about one week later. “For the first few months of its existence, it was obtainable only by miners validating the Bitcoin blockchain,”. In June 2011, it hit its first bubble, rocketing to around $31 before sinking back down to the single-digit range.” Almost two years later, in April 2013, Bitcoin reached $200. By the end of November that same year, it was worth more than $1,000. It then rose tenfold to $10,000 in November 2017. Bitcoin’s highest price was about $19,650 in mid-December 2017. On the 10th anniversary of bitcoin in October 31, 2018, the price held steady above $6,000 during a period of historically low volatility. A year later on November 30, 2020, Bitcoin price reached new all-time high of $19,850.11. Bitcoin hit 50,000 in February 2021, then it went up to $60,000 in April, as Coinbase gets ready for public debut. On June 8, 2021, at the initiative of the president, pro-government deputies in the Legislative Assembly of El Salvador voted legislation to make Bitcoin legal tender in the country.