In 2019, when we saw bitcoin's first price rally, I think that's when the latest bitcoin bull market started. Bitcoin surged to about $13000! If we take a long term view, I think bitcoin is in a bull market.
I think, the two important observations from the previous bitcoin bull markets are:
- We saw a few price rallies
- The last price rally was the historic one, where bitcoin's price surpasses previous All-Time High.
For new traders, I think there are two easy options to profit from bitcoin in the current market conditions.
The first option is to buy bitcoin at a lower price and sell at a higher price over some time. This option can take up to a few months or years to generate profits.
The second option is to simultaneously buy or sell bitcoin and profit from an imbalance in the price. This is called arbitrage. With this option, I think profits can be made on a daily, weekly or monthly basis.
Let's look at how to profit from arbitrage in detail. I think arbitrage trading can be done on a global peer-to-peer marketplace like Paxful for buying and selling bitcoin.
So to profit from arbitrage, you have to buy bitcoin at a lower price (often below market price) and sell at a higher price (often above market price). For this, you need to 'Create an Offer' and set your buying or selling price. Watch a video tutorial (below) on 'How to Create an Offer?'.
Additionally, you can instantly buy or sell bitcoin on Paxful.
Watch a video tutorial (below) on 'How to Buy Bitcoin Instantly on Paxful?'.
Watch a video tutorial (below) on 'How to Sell Bitcoin Instantly on Paxful?'.
Watch the video tutorial (below) on 'How to Detect Scams When Selling Bitcoin on Paxful?'.
If you have any questions regarding Paxful please ask them in the comments (below).
Both you and I will receive 5 USD worth of bitcoin if you sign up for Paxful via this link and complete ID and address verification along with one successful trade.
Happy Trading!
Disclaimer: This is not financial advice. This is not tax advice. This is not legal advice.
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