I thought that I would share a good trade I made through Bitcoin. I'm not a very serious investor, but I am smart enough to take advantage of an opportunity when I see one. I'm a bit of a low baller, but hopefully the sound of a 50% profit inspires you!
So, I was watching Bitcoin for a while. I don't remember if I had any at the time, but it was something that interested me greatly. I watched it jump from $1200 to $2800 in a few months. I started reading, and I noticed a huge fuss over Bitcoin going on all over cryptocurrency news sites. Websites were saying crazy things like Bitcoin was to reach $100,000 (and some even said $250,000). I knew all this excitement would cause a huge bubble... So I bought at about $2800! It was kind of impulsive and crazy because this was the most Bitcoin had ever cost!
This picture shows about where I bought.
After this was a bit freaky. Bitcoin took a dive. I just waited it out. I stopped looking at the price so often. It hit a low of about $2500. Right about there, I was asking myself, "Why did you buy at $2800!?!?!"
After a while, things started looking better. I wasn't underwater anymore. Then... Things started looking much better! Things were looking freaking great! The Bitcoin bubble grew all the way to $4,000. I figured this was the peak of the bubble. I sold about here.
My profit was a bit under 50%. That is a damn good number for investing. Don't take this example and expect this to happen to you though. Realistic goals would be around 5-10% (15% anyone?). This is just an example of how to ride a bubble. This was a pretty obvious one too. I was a bit upset when Bitcoin peaked at $5000, but I can't be too picky. It is better to be safe than sorry! I am very pleased with my 50%, especially that Bitcoin is bobbing around around $3800 - $4000 now.
To conclude, read cryptocurrency news when trying to predict bubbles, then buy and wait! don't get too upset if you go under a little. cryptocurrencies are volatile! Last but not least, don't be too greedy! It can get you into trouble! Take your profit and call it a win!