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Introduction
Never before today, bitcoin trading has been more popular then what it is today. Fortunately, the bitcoin market does not show any sign or symbol of slowing down in recent times. It is not late even now, you can get into the business even now, it is not too late yet.
There are many crypto and e-commerce trading robots and software but that is not enough. It is also important for you to know and understand the basics of crypto trading.
Here some of the bitcoin trading strategies have been listed and you can follow them blindly if you have no idea about it.
Bitcoin Trading Strategies for 2020
There are many strategies for bitcoin trading successfully. If you are very new to the trade then we will help you understand the process easily. There are some technical steps that can be followed to do a great bitcoin trading in 2020.
HODLing
The term “HODL” was found out in 2013. This complex four-letter word has no magical meaning in it, in fact, it is the simple world “HOLD” just spelled incorrectly. It was the concept of the expert who coined the term, said that the new traders or beginners need not spend or trade the money. They can simply put their bitcoins on “hodling” or “holding”. There were some significant changes in the bitcoin value in 2013, the bitcoin which was bought for $15 at the beginning of the year became $1000 by the end of the year.
The term “HODL” has been used in several memes during the time it was coined but now it is used as a strategy. The trick is to buy a bitcoin at less price and just keep it with yourself and let the price rise and then sell it off.
Hedging
The second strategy is hedging which is said to be the action of the bitcoin. As you know already that bitcoin is volatile, of course, there is a chance to lose bitcoins while trading. There are some small steps of hedging which has to be taken as follows:
You can sell your bitcoins at a moderately high price and expect the price to drop down after some time and you will be able to buy it back.
You can also make a contract with another trader who agrees to trade the bitcoin in the future at a decided price on a specific date.
Trading Trend Wise
Trend trading is very new but the reality of bitcoin trading these days. You will have to be aware of what all others are talking about and thinking of.
You might not know but in 2017, there was a time when each of the bitcoin was of $20,000 all of a sudden. No one merely could understand what was the reason for such a hike but one thing was clear that the publicity of bitcoin raised so much that it became costly. This means that during that time, most people wanted to be in the profession hence the price of the bitcoin raised.
You just need to have an idea, what is going to happen next in the trade of bitcoins.
Conclusion
But before you start trading you must know certain things about bitcoin trading. You must know about the trading strategy that you have chosen, you need to create a plan for your trade. Try to make sure that your plan does not incur any major loss. The last but not the least, find out the most reliable and the safest way to exchange bitcoins in trade. Once you follow all of these you be able to do a successful bitcoin trading.