Earning from Bitcoin BTC is no longer difficult at all. If you want to achieve this and gain more by trading in Bitcoin, you should look forward to the next lines, and you will learn with us. How to trade bitcoin and make profits from it We’ll also give you strategies that will give you every chance of achieving what you want.
Many people want to profit from BTC and start trading with it, but the most crucial question here is done you have enough information about this virtual currency ?!
In short, Bitcoin is a digital or virtual currency that is used to purchase services or products.
It has become relied upon by some companies to buy more of its currencies, as it is relied upon as a form of investment.
Bitcoin has a direct network to a payment medium that no one can interfere with or own.
In 2016, bitcoin prices witnessed a significant increase, which attracted the attention of investors.
Let’s learn about the most important strategies for trading with Bitcoin and profiting from it by looking at the following paragraphs.
Bitcoin profit strategies:
If you want to get the best profit from bitcoin trading, you should look at the following two strategies that we will present to you, as they are considered among the best and most effective strategies ever.
These two strategies have the advantage of taking into account the high volatility of Bitcoin, so it is important to read and know them to choose what is most suitable for you.
1. News Strategy:
Although bitcoin is mostly not affected by news in its economic calendar, this does not negate the need to monitor bitcoin news periodically.
This news has more effect in the digital currency market Compared to other news related to the traditional economy, such as the US Non-Farm Payroll and other news.
If you realize, for example, that there is a huge fund that has invested hundreds of millions in Bitcoin. In this case, you should think about buying the digital currency Bitcoin in the next few days.
And if there is a news spread about witnessing a breach of a large digital currency deal, in this case, you should consider completing the sale of bitcoin.
Real-world news strategy examples:
At the beginning of the previous April, Bitcoin prices faced a noticeable increase, and this increase was due to several factors, such as:
- It was officially announced that Bitcoin did not violate any of the provisions of Islamic law.
- Several news also broke that a famous investor Who is named after George Soros Interested in trading operations in virtual currencies.
- Along with the focus of several traders and their interest in the Global Blockchain Forum that was decided to be held in the Emirate of Dubai during the days of April 16/17, it also had a hand in witnessing the increase in Bitcoin prices.
- After the passage of this matter, more factors also varied related to this matter, such as the decision of one of the famous search engines, the Bing search engine that follows Microsoft, to join the Internet giants in the decision to stop digital currency advertisements, starting in July 2018.
In a nutshell, this strategy needs to monitor several bitcoin news blogs and sites to complete.
In this case, you have to filter the news of greater importance so that you can sort out the unimportant shouts or trends and focus on the important Bitcoin news.
2. Bitcoin profit strategy, trading based on technical analysis:
Technical analysis is a huge source of ideas for bitcoin trading. It is not preferable to rely on scalping, which means trading operations over short periods. It is preferable to focus on timeframes larger than H1 as they provide maximum leverage in the market.
Keep in mind that Bitcoin always tends to follow the trends.
So one of the strategies to profit from Bitcoin BTC is the best It is to determine a program that follows the trend when trading in Bitcoin.
It can be very simple by relying on several moving averages or a single moving average.
Real-world examples of trading based on technical analysis:
- timeframe: H4
- Indications: 200 Moving Averages, 26 and 12 Exponential Moving Averages.
It is worth noting that the strategy creates a sale tag in the following cases:
- The market encounters downtrends, so the price here must be less than the 200 moving average.
- The 12 moving average is crossing below the 26 moving average.
When the price moves back and touches the 12 moving average, here you have to take the profit and you have to put the stop loss process above the swing high in mind. Your implementation of this is the right thing for you in long deals, so you should always remember to manage your money.
Our advice to you at this point is to trade with more than one digital currency and not one digital currency.
When trading digital currencies to multiply profits and reduce risks, it is preferable to diversify your digital investment portfolio, as each digital currency has a number of its purposes.
For example, Litecoin and Bitcoin are direct digital currencies.
But the matter is different from Ethereum, as it is a decentralized platform, while the Dash digital currency is based on the privacy of its users.
But in general, all the previous currencies are highly liquid and are characterized by being traded in the market and available on the best trustworthy trading platforms.
You must select the digital currencies very accurately and choose the digital currencies that can seize the opportunity if any number of them reaches the record.
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