As mentioned, when trading Bitcoin, prices can quickly go very high or very low. Meanwhile, is typically valued at less than $100 billion per day, though it rose slightly above $1 trillion on two days in 2018. The price behavior of Bitcoin can be very volatile. But because cryptocurrencies are such a brand-new asset class, even experienced investors may find themselves asking, “How do I trade bitcoin?” Since Bitcoin is the most known cryptocurrency, many people started trading Bitcoin online. Because of this, you must only trade an amount that you’ll be comfortable losing. Mostly, those ways have to do with the fact that bitcoin was invented in 2008, not centuries ago like most forex-traded currencies. Mostly, those ways have to do with the fact that bitcoin was invented in 2008, not centuries ago like most forex-traded currencies. Consequently, bitcoin trading is simpler and more straightforward than forex. That’s the number one rule to become a successful Bitcoin trader. If you’re familiar with forex trading, trading bitcoin is most like “spot” trading a currency pair. On the other hand, if you don’t have any target price for taking your profits, you’ll start becoming greedy as the prices keep going up. Although cryptocurrencies like bitcoin are gaining popularity, there are still many associated risks. So, it’s also important to set a target to take your profit.buy bitcoin with paypal instantly A forex trade is simply an exchange of one currency for another at its current rate. Bitcoin’s legendary price volatility can excite many investors and traders—especially day traders. Bitcoin’s legendary price volatility can excite many investors and traders—especially day traders. Unlike tourists who exchange their home currency for local spending money, forex traders are trying to make money off the continual fluctuations in the real value of one currency against another. Most forex trading is conducted in a decentralized fashion via over-the-counter markets. It's the job of those banks to stabilize the value of their currencies and keep them stable. For comparison, the value of global stock trading is estimated at only a few hundred billion dollars per day. If the prices still keep going down, you’ll realize that you should’ve sold your Bitcoin. But the tradeoff is essentially adding a third currency to what was a trading pair. Most of the time, your decisions on Bitcoin trades will only come from speculations, which is high risk. Most of the time, your decisions on Bitcoin trades will only come from speculations, which is high risk. By this time, it’ll be too late to sell. A forex trade is simply an exchange of one currency for another at its current rate. Forex is far-and-away the world’s largest market, with daily trading volumes around $6.6 trillion, according to the Before you even start trading, don’t use all of your savings to trade Bitcoin.