How to Profit on the Bitcoin?

Posted by OliverPearson 0

bitcoin

The Bitcoin is a perfect underlying asset to trade binary options. Although the idea of invention of this cryptocurrency was published in 1998, bitcoin was first introduced on February 4, 2009.

Bitcoin is rather a young online currency allowing paying on the Internet. As any other currency in the world, its rate is not fixed and affected by multiple factors.  However, unlike other currencies, the bitcoin rate is based on completely different principles.

In 2010, the value of 1 bitcoin was below a cent. In 2011, the price per bitcoin rose to around a dollar, that is, 100 times a year. At the beginning of 2013, the price rose to the level of $30, and by the end of 2013, it reached $1,000.

Below is the Bitcoin/USD history chart:

bitcoin1

Bitcoin is not regulated by the state banks or other financial institutions. At the end of 2013, the specialists of the cryptography center engaged 500cutting-edge computers to network the users. This is also the reason why virtual bitcoin is not under control of any financial institution.

Bitcoin is similar to the currency of the Yap Islands in the Pacific Ocean, the stone money being as tall as a man because to carry away the stone money weighing a ton and to hack a cryptographic key is impossible.
bitcoin-usdThe first reason why we may call bitcoin as “currency” is that it is used like ordinary money. Besides, the bitcoin platform is used to invest money. And if the number of investors grows, its rate also rises.

Fr instance, a Swiss developer bought two thousand bitcoin and forgot about them. Six months later, he discovered that he became a millionaire.

There are many similar cases. Some paid cents for bitcoin and became millionaires. Some spent cheap bitcoin and later discovered that their price had sky-rocketed.

For example, some guy paid 10,000 BTC for a pizza in 2010. His pizza would cost around $10,000 000 in 2013.

Or, for instance, an Ebay seller sold an old cellphone to an Indian guy at 3,000 BTC. The price was really low at that moment. The seller forgot about his bitcoin. Eventually, he discovered that his old cellphone yielded $3 million.

Today, to make money on the Bitcoin is real as before. However, this doesn’t mean that you need to wait and rely on luck.

Bitcoin Forecasts

bitcoin-usd1The key factor affecting bitcoin is demand for it. This means if all users leave to use it simultaneously, the price of 1 bitcoin will drop to zero.  This is the reason why all forecasts about the price action are to be based on its users.

 Bitcoin is significantly affected by the news releases concerning the system. Considerable publicity due to which new investors are attracted and hence the rate rises is a positive factor. Besides, this in turn attracts new companies that may start accepting bitcoin as a payment option for goods and service. This is also a positive factor.

Many experts think the advantage of the bitcoin is that it’s not attached to any material values. The risks of the bitcoin arise from the link between the currency and a social community.

If you look at the Bitcoin/USD chart, you may notice that a trend may continue two days or even more. This means if you follow the trend in the Bitcoin/USD, you can make a decent profit.

How to Make a Profit on the Bitcoin

bitcoin (1)Today, the Bitcoin produces the highest profit on binary options trading.

To make a profit on the Bitcoin, you need to figure out whether the price will rise or drop during a certain period, say, next 15 minutes.

If the price behaves in line with your forecast, you immediately get a 70% profit. According to a poll, the number of new binary options investors is growing because it really pays off.

TopOption, the well-known and reliable broker, has the Bitcoin available as an underlying asset.

If you think that time to make money on bitcoin has gone, then you are wrong.  

Actually, the exchange rate of bitcoin is not affected by too many factors, and hence to follow the news and fundamental events concerning the currency is much easier as it may seem. You just need to follow the trend and make a profit.

Today, it was announced that Overstock, the American online retailor, officially launched its updated e-payment system allowing customers in 107 countries to pay with bitcoin.  Experts predict that sales volume will increase significantly due to a new e-payment option. This in turn will attract new users to bitcoin. 

So, I browse the website of  TopOption and choose the Bitcoin. Then, I set the time of expiration to 4:00 p.m., select the amount of investment, that is, $100, I select the UP button as I expect the price to go up and click on the Trade button :

bit

bit2

It’s 3:24 p.m. now. This means that I invest for a period of 36 minutes. If the Bitcoin rises even by 0.001, I will make a 70% profit.

After a little while, I check the result.

bit3

As you see, to make a profit on the Bitcoin is not difficult, and it doesn’t take too much time.

Anyone can cope with it!

Leave a Reply

You must be logged in to post a comment.

Recommended for you

How I Made Money on Nike Stock

AllbinaryOptions.today