When I started to getting involved with Bitcoin, the price was MYR 1,012 which is around US$285 at the rate of MYR3.5 for US$1. I bought 0.049407 BTC for MYR 50, later I sell for MYR 118.51 which at that time MYR 2,032. The ROI (Return of Investment) was 137.02%, and that’s how I learned to trade.
From what I learned, trading is simply about buying and selling. So how do we know if our trading is making profit or not, the answers is easy, if the price at the time that we buy is lower than the selling price, then we are losing. If it happens the other way around, then it is making profit.
Image from Coindesk
On September 30th, last week, I bought 0.072340 BTC which cost US$26.26 (MYR 118) at US$362.97 per Bitcoin just to sold it an hour for US$32.83 where 1 BTC cost at US$381. In just an hour, my ROI is 25%. The picture above shows the overall Bitcoin price from November 23th to November 30th.
The last day of September event taught me one thing about trading that is:
you only need to buy when it matters.
Since the price of Bitcoin is really volatile, I like to trade in small amount so that the risk is less. I like to keep simple, keep it Just For Fun so trading with large amount of money is never my option. By the way, it is a historic week for Bitcoin, where the trading volume reached its highest.
Trading Volume vs Price
Bitcoin Trading Volume History by Bitcoinity.org
November 25th was the busiest day for exchanges where 2.86 million worth of Bitcoin was traded and 2.76 million of Bitcoin was traded on November 29th. The price was US$349 and US$383 on the respective dates. The price is never depends on the volume traded, is what I can concluded.
There is one thing for sure, between those dates there were Thanksgiving, Black Friday and Cyber Monday, when the price soared. So I’m looking forward for Christmas and New Year.