Trade binary options with bitcoin is something that interests a lot of traders because it’s relatively new and there’s a lot of people that have become millionaires from bit coins. That doesn’t mean people have become millionaires in binary options trading this asset though.
When I’m trading binary options one of the important elements I look for is consistency. I try my best to avoid any sort of volatility because that’s when I lose. When the market is steady and stable I can predict it and make the right decisions. What does that mean for bitcoin?
Well it’s not good.
To trade binary options with bitcoin traders have to be aware of extreme volatility. Since bit point is not a country’s currency it doesn’t have the stability that’s required for long-term gains. I’m sure there are strategies out there to take advantage of these volatile markets but none of the strategies I’ve test so far have come to fruition.
You can see here in this bit point chart how volatile these markets actually are. Look at how severe a drop can happen in the matter of hours in this market. To predict this you would have to be a fortuneteller, and if you can predict this then you should be buying and selling bit coins to make money not trading binary options.
For me, I just don’t feel like to trade binary options with fake coin is a viable investment opportunity. I may look into creating some sort of binary options bit coin strategy in the future but I feel like out be quite the undertaking. If you trade bit coins I would love to hear from you so please send me an email or leave a comment on this post.
I have a friend who actively trades bit coins and lite coins but not as a binary trader. A lot of the information I have is thanks to him and he did very well taking advantage of that market buying in on those coins at a very low price. Well that’s it for today, if you have any questions or you want to comment on trading binary options with bitcoin please let me know.