Profit from Bitcoin trading
I'm very happy and glad to share that I was able to grab a small profit from Bitcoin trading today. Bitcoin is still the master of all cryptocurrencies. We all know that it is the first-ever cryptocurrency and the utility of Bitcoin is still there even today. It is also one of the most desired cryptocurrencies where people trade a lot. I did not get a chance to trade much on BTC but recently I thought I should give it a try.
Usually, my trades are around Hive and Hive engine tokens. I don't usually focus on other cryptocurrencies. I know I miss many opportunities but I'm really very confident with the hive and the main reason why I trade with Hive is that I know when to enter and when to exit. Even if a trade goes wrong, I wouldn't mind keeping the funds long-term. That's how I bought a lot of Hive when the price was around 90 cents to do a quick sell when the price hits 1$ back. But unfortunately, that did not go really well. I'm still waiting for the next pump.
But in spite of all these, I know how Hive would react and I don't even mind staying invested here for the long term. That's why I stick to trading on the hive. A few weeks back I was tempted to purchase some BTC as I did not have any BTC holdings with me at all. The intention was not about trading it but just holding it for the long term. Today when I saw the price going up, I'm really very happy and wanted to sell my holdings off to book some profit. I know BTC can go further up but I'm not sure when it would happen. I wanted to book the profit I see right in front of my eyes.
I bought BTC when the price was around 18,000$ and today when the price was a little above 20,500$, I sold it off. I know I can wait for it to go a little higher than this but I don't want to get caught in greed and lose what profit I see there. There is no harm in profit booking and taking it very slowly. My intention is to purchase the same value again when the price drops. I know most of the people, including me what to see BTC going up again taking all the altcoins along with it. But at least if it can give opportunities for a few more swing trades, it will be really good.
When I started trading cryptocurrencies, BTC was the first coin for me too. I made 100% profit from my very first investment. I started as a trader and started exploring other earning opportunities here in the crypto world. It was a great experience overall. This is why I still feel BTC is a good opportunity for traders and investors.
If you like what I'm doing on Hive, you can vote me as a witness with the links below.
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Congrats on your successful bitcoin trade..
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Congrats on your trading profit.
It's never wrong to take profits. I tend to think that taking some profits and letting the rest ride could also be another option. Recoup your initial investment and it means that there won't be any loss for you.
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It's very unlikely that it pushes past $21K. It's a trade anyway... and the profit margin was decent.
Posted Using LeoFinance Beta
You took a good decision. I don't think BTC will go up more than 21K. Though I didn't sell everything but around 30% yesterday, I will wait a little longer.