The Bitcoin Trader
The Bitcoin trader thrives on the exciting volatility of bitcoins. They’ll try to time the market and buy bitcoins when the price dips and then they’ll wait for the price to go up before they sell their bitcoins.
Trading is a high-risk game because you’re betting for the price to go up or down. Not everyone can trade, however. The most successful traders are those who have nerves of steel and can detach their emotions from their trades.
Traders don’t get scared of dips in the price because they are optimistic it’s going to go up again, sooner or later.
They are looking to maximize their profits, too, so they’ll mostly invest a lump sum and buy at the lowest price they can possibly go for, and then they’ll wait until the price is high enough for them to make significant profit.
Trading takes a lot of guts. It takes a lot of thought and analysis. If you’re an emotional type of person who gets physically sick with every dip in bitcoin price, then you’re better off investing, and not trading, in bitcoins.