Now for the last couple of months, bitcoin skyrocketed to the moon so there’s probably not a better point in time to make good money.
This is my story how I made $8000 in one week.
I day traded with $250 worth of bitcoin. I’ve never done this before but I was extremely lucky and made a lot of money. One thing about bitcoin as you can see here is that it is very volatile so it’s extremely hard to predict how the price is going to be at a certain point of time.
For example, recently PayPal introduced bitcoin on the platform which is a great buying signal so ideally you would have bought before that and then sold after that or just kept on holding but for day trading you know it’s kind of different because as the name says it’s day trading.
So you mostly rely on other metrics if any now I personally believe that most of the stuff you will find out there is not getting you anywhere because if there is someone who is able to predict the bitcoin price or certain stock prices they most likely wouldn’t tell you because well it makes them rich even in the stock market only a tiny fraction of people are able to outperform it.
They have a lot of knowledge about companies and experience or information that you and I don’t have or they just get lucky but anyway the first strategy that I tried is called stochastic RSI. I used kraken because of the low fees and they also have a very user-friendly app but of course you can also use well Robinhood. So I bought bitcoin at around 26 600 and with 100 % of my balance and next day the price just topped itself from yesterday and jumped to another all-time high of around 29,200 which was crazy. So just after some hours the bitcoin just dropped to 29,000 and I bought the Bitcoins again and my portfolio at that time worth more than $300. After one day the bitcoin hit new all-time high which is $31,000. This turns out to be a good night and the most unbelievable thing happened 4 hour later that the price touched $34,500.
After that I sold the Bitcoin at 34,650 and just bought around 200 contracts of bitcoin Future at a bitcoin price of around $33,300 and next day after new year the price hit the $42,000 and after selling my contracts, my portfolio reached at $8,012 which was extremely insane.
The amount is in real time was in my wallet as well as an estimate of what you would get out of it definitely feeling like wolf of wall street.
Hope you got some inspiration from this Bitcoin success story for all the people out there! With the advent of digital technology, by investing in the right coin at the right moment, everyone can become wealthy. Do extensive research on success stories in cryptocurrencies and make the right investment step to reap the best!