BITCOIN TRADING! 💰📊

         BITCOIN TRADING

As we all know that Bitcoins are decentralized crypto currency that is not regulated by any central government and it has no physical form then How to start bitcoin trading?

To start with bitcoin trading you have to

• Open an account on bitcoin exchange and verify your identity.
• Deposit money in your account.
• Start buying or selling bitcoins

HOW TO ANALYSE BITCOINS PRICE

No one really can predict that what will be the bitcoin price at the next moment but there are certain methods or techniques developed by the traders to assess the situation, namely two methods which are used for such analysis are;

FUNDAMENTAL ANALYSIS:

In this process usually the bigger picture is taken into account, regulations related to bitcoins around the world are observed that will effect bitcoin price e.g. when china declared bitcoin illegal it really affected its value in china.

TECHNICAL ANALYSIS:

Technical analysis is done by studying the market by observing market patterns that give us the hint that whether bitcoins price will get high or low.

BITCOIN TRADING TYPES:

DAY TRADING: in this type trading is usually done all day and it is closed at the end of the day, the traders usually try to take advantage of short term rise in prices.

SCALPING TRADING: this type also aim at short term trading all day, this idea is based on the opinion that gaining limited profit many times a day limit the risk. They make several intra -day trades when there is slight change in prices.

SWINGTRADING:
in this type usually the traders try to take advantage of the swing cycle created in the market; when the price starts to rise they get involve in trading and hold on to it untill the cycle goes into reverse and get the profit.

PASSIVE TRADING:

It is for traders who want to be in process for longer time as it takes time. They wait for the prices to drop and when it happens they buy the bitcoins and when price get high they sell it.

TRANSPERENSY IN PROCESS:

As we know that bitcoins are decentralized currency and no central bank regulates it what will be the process of check and balance?

All the selling and buying taken place is shown on market order book and it is mentioned as buy order and sells order. This market order book is available on every market exchange. The buy order is called bid as people are bidding and sell is called ask as that is asking price .The price of betcoin available on exchange is the last trade conducted on that specific exchange.

WALLETS:

Being not physical BITCOINS are store in wallets that can be hardware wallets and paper wallets.

BITCOIN MINING AND TRADING:

Whenever a person make a transaction of a bitcoin along with that transaction there is a mathematic code which the minors try to solve, the one who solve it first mine the bitcoin and that bitcoin is his profit.

PROS AND CONS 0F BITCOIN TRADING:

Its exchange is open 24/7 and you work as an anonymous , you can earn a lot in less time on the other hand it has no fix value it is volatile as it keep changing value because of absence of regulation from central bank.

Note that never go for bitcoin trading without a plan and research. Risk only that amount you are comfortable with, avoid greed else it will not work for you.

• ADMIN - eshX