Trading Bitcoin Volatility in a Volatile Market | | |
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GameStop once again took the news cycle by storm last week as the stock shot up 200%, but Bitcoin is making a move as well. In our Monday Morning Roundtable, we sat down with our fellow trading experts to talk about trading Bitcoin volatility this year.
Not too long ago, Bitcoin hit a record high off the back of some interesting news. It was announced that Tesla bought $1.5 billion worth of the cryptocurrency. CEO Elon Musk also said consumers could begin buying cars using Bitcoin.
We said it back then: the higher the price, the more volatility.
On Feb. 21, the cryptocurrency was priced over $57,000… A week later, it dropped to $45,000.
A $12,000 move in a week? For anything else that would be incredible. For Bitcoin, it's run-of-the-mill. But that doesn't mean you shouldn't trade Bitcoin's volatility... | | |
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