The Urge to Get Rich Through Trading

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Seeing the evolution of bitcoin over the past few years has put me in a mode to get rich quick. I’ve seen people buy bitcoin and come out with much more money than before and figured that if they could do it, then I could. Trading in bitcoin is as simple as using an app, and anyone these days can do that as long as they have a phone. Although the process of trading is simple, knowing when to make the right trades is a different thing, and it can result in more money lost than intended.

When I finally decided that it was time for me to start buying bitcoin, I downloaded a well known app to help me make my trades. I was able to easily create a bitcoin wallet and use some of my money to buy bitcoin. After making my first purchase, I closely monitored the price of bitcoin to see if it would make any changes that would be worthwhile for a sale. I saw the price go down a couple of dollars and sold some of my bitcoin. After that sale, I began to instantly regret my sale, especially when the price of bitcoin went up by $15. If I had waited, I could have gotten more money from my sale. I looked at the price without breaking concentration to see if the price would go down again, but it didn’t for the whole day.

The next day, I checked the price and bitcoin had fallen by $50. I immediately purchased some again, and didn’t make any more trades for the rest of the day. When I checked the price at the end of the day, it had gone back up again, so I was able to make back the money that I lost from my first sale. These days, I’m a little bit more careful with the choices I make when trading in bitcoin.