The era of bitcoin has been an interesting one. It came seemingly out of nowhere, and once people started buying it, they couldn’t get enough. There have been times when the prices of bitcoin have gone down so far that they were worth less than a dollar. The price has also gone well over 10,000 at its highest. I didn’t start buying until after bitcoin had reached its maximum price. A lot of people flocked to bitcoin around that time, as if it was a modern day gold rush. Some left after realizing that they didn’t know what they were doing.
I realized that it would take a while for bitcoin prices to reach the maximum again, but I still stuck with it, because there was money to be made by trading on the bitcoin market. All of those people who left were just leaving money on the table that I could pick up. I use an app on my phone that lets me view how the market is doing in real time, and then make trades based on that. When I see a price that I think is low enough and will lead in to a rise, I buy it.
When I see a price that high enough, I sell it. Once I make a decision, I don’t second guess it, because it will only lead to me making some kind of foolish counter decision in an effort to correct the previous one. I’ve made some decisions that I’ve regretted while trading, but that’s all part of the game. If you wait long enough, the price of the market will adjust and leave you with enough room to make up for the mistakes that you’ve made. There’s a lot of impulse control and strategic thinking to making trades on the bitcoin market.