Day trading a volatile asset can be a pretty stressful and difficult thing to do. Anthony Pompliano also addressed this in one of his recent tweets.
Check out the recent post that he shared on Twitter not too long ago.
REMINDER: Attempting to day trade a volatile asset like bitcoin is difficult.
It has been the best performing asset over the last decade, so the long term holders have done just fine.
— Pomp 🌪 (@APompliano) August 8, 2021
The truth is that obviously don’t term holding turned out to be the best decision that people involved with crypto have made in years.
Regarding the price of Bitcoin these days, at the moment of writing this article, BTC is trading in the red, and the king coin is priced at $43,791.20.
People have mixed opinions about this. Someone said: “If you don’t know how to trade then yes, it’s hard. Btc and everything else go up and down at least .5% a few times a day. All you have to do is aim for 0.5 – 1% profits per day . On a 30k trading bag that’s an easy $150-$300 a day. Been working just fine for me….”
Others said that they have been holding their crypto for years now. “Bought every dip starting in 2014. Have never sold any.”
Bitcoin’s price trajectory
Willy Woo has an important note to make about the price of Bitcoin these days. Check out his tweet below.
#Bitcoin price would need to move to $53k to address the demand/supply imbalance in the market.
— Willy Woo (@woonomic) August 8, 2021
There are all kinds of bullish predictions about the price of Bitcoin these days.
Kraken Intelligence analyzes Bitcoin’s price potential this August. According to the crypto exchange’s new report, “Bitcoin performed fairly well in July, rewarding holders with +18% returns, which is above the month’s historical average return of 11%.”
Stay tuned for more news.