1 BTC can currently easily make you a couple of Hundred $$$ a trade, perhaps even a couple of times a day.
Bitcoin is ranging a bit as it consolidates, but at this new price level that ranging is not to be sneezed at and is quite profitable.
It goes up a couple of hundred dollars and then it drops a couple of hundred dollars. It doesn't take rocket science to make a few hundred dollars a trade these last couple of days by swapping form BTC to USDT when its high and then swapping back from USDT to BTC after it has dropped a bit.
If you are holding some BTC in your portfolio it is not a bad idea to put it to work while we wait for BTC to gather a little more steam for the next leg up.
It seems to be moving up to the next level after consolidating in 1000 at a time, so the worst you could do is miss out on the next $1000 leg up. However if you have made a few trades before that happens there should have been enough profit made already for that not to be a net loss in BTC terms.
That is the risk if there is a sudden surge in price, however it also tends to pull back to similar levels after the surge so one can get in again to BTC after missing a surge.
The upside is that if BTC drops significantly you could be protected by holding the $$$ value in USDT.
There is more than enough volume on poloniex to get in and out with a couple of Bitcoins at a time and the fees at these prices are $20 - $30 depending on if you are a maker or a taker.
So if you are trading a difference of $200 to $300 in price there is at least $100 to $200 profit from swapping 1BTC to USDT and back.
Great idea totally agree with you ;)
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Be greedy when others are fearful - Warren Buffet. ;)
Works well in the stock market. Works extremely well in the crypto markets.
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I find 'old school' tech analysis works an absolute treat!
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Every dip has been a huge buying opp and you have had about 10 of them this year! $800 starting out then $2,000 when the markets took a dive from BCH and there have been countless others over the months since then.
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agree. that's an easy and effective strategy. beginners should use it. relatively low risk
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Good suggestion!i will try
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This is super informative
Why didn't this post came earlier than now after i had lost bitcoin to fake companies.
Thanks for the info @sme
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It works better now that the BTC price is higher
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agree with you
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@sme hi how r u
I up votied & like your post
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@sme wow nice i like it
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Hey Bud great post thanks for sharing have a look at this might be something you can relate to https://steemit.com/ethereum/@ajkapss/microraiden-payment-channels-are-now-live-on-ethereum-main-network
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nice post bro.
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I think you are right one. A lot of weak holders have been washed out, great opportunity for a lot of new blood to enter the arena. They obviously won't near as motivated picking it up at this price vs $1k (or less) more than year ago. Good point, the story hasn't changed for me about the future BTC yet.
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