I was looking at the possibility of investing in several Altcoins as part of my trading by selling off Bitcoins. I do feel that with proper planning and execution, the profits that could be reaped through these Altcoins by day trading in a week would be far superior to that of Bitcoin.
It is true I am talking in terms of a short term gain. BTC is certainly a long term investment but what about the short term gains? As an example, even if I invest in 1000 coins of IOTA or 10000 coins of NEM, I am assured of greater volatility in the market for these coins compared to that of BTC. If NEM makes a high on a particular day even by 0.05$ USD, I would make 0.05x10000 = 500$ USD in a day if I sell all my coins at that price.
Of course, trading does involve many other practical factors which make things not as simply as I write here. But being a pro I can simplify the complexity and say that it is certainly possible to make it so.
But will this not be a way to make decent income every day? When you invest in cryptocurrency, it is a need for one to continually observe the market trends. When one is able to understand the intricacies of the market then it is better that he takes up (day) trading.
After all it is important we make money on a regular basis apart from the long term investment isn’t it so?
Ofcourse because this is most simplest and easy way to do work in this field , without doing a job we can't make another work .
And also it is the most profitable way to make earnings in the cryptocurrency market , so how can make myself at distance from this work .In the present time price of bitcoin is about to stable , which is not a big deal to buy and hodl for long time .
For now it is also a opportunity for the bitcoin to fiat traders , because if bitcoin price will remain stable then surely chances are more that at stability we can easily buy at small low and sell at small high for definite amount of day profit easily .
. And also it is better for us to trade with the altcoins with such stability because with the fluctuations of the pricieof the bitcoin , the prices of the altcoins get disturb much , so better to do everything but we need everything at perfect timing , otherwise loss and profit are part of the trading .