Today, Bitcoin looks stronger than ever. With interest from high-profile investors and plans for institutional adoption, the cryptocurrency is reaching new highs. It has already doubled since the beginning of 2021. Some experts, including Bloomberg strategist Mike McGlone, predict a spectacular value of $400,000 by year-end. But how profitable is trading in reality?
Pros and Cons of Volatility
The value of volatile assets, such as Bitcoin, changes dramatically. Traders see higher profits or magnified losses depending on their strategy. Bitcoin will allow you to make money more quickly than in stable markets. However, you may also lose a lot. Clearly, crypto trading is not for the faint-hearted, and risk management is crucial.