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[quote][i]Originally posted by SetH[/i] [quote][i]Originally posted by Ian[/i] I could make the case against buying it at any time - its volatile as fuck [/quote] Yes, so think of the trading opportunities with the big swings in price. Huge risk but huge reward. I don't care if BTC goes up or down, I will either open a long position or a short position accordingly. It is that volatility and gains/losses of + or - 20% that presents the opportunity to make huge gains, it also presents the opportunity to also lose thousands so employ appropriate risk management. Even if you did not trade and bought just 1 BTC for $3200 back in February, you would have made a profit of $10,000 a couple of weeks ago for literally 5 minutes of your time and 6 months patience. The people that are day trading this are cleaning up or getting absolutely REKT. Then there is the ALT coins. Historically some of these see x100 gains and they usually follow closely behind BTC. If BTC spends weeks/months going sideways or has a huge retracement there is a strong possibility of a surge in the ALT coins. When BTC has parabolic gains the value of ALT coins usually bleeds as people add more BTC to their portfolio (which is happening right now). Again ROE of x100 easily to be made. Show me another asset class that will give you that? Or you could trade the 'safer' traditional stock markets and enjoy your 1-2% ROE :lol: I only trade occasionally due to the fact most of my money and time has been invested in a career change (a very expensive one), otherwise I would consider this full time, probably living again in Thailand as you can do it anywhere. A lot of people are put of by the volatility though, retail buying is not the same as it was during the last bull run. Most of the money coming in this time is institutional which in itself is pretty big news. The greatest risk I see is that BTC has a tiny market cap compared to something like the Dow. Therefore one massive whale can influence the price with a huge buy or sell order, it is difficult to manage risk against this as it happens out of the blue. [/quote]
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