Then, you start thinking that it’ll still go up and end up not selling. 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. In addition to these differences, experts like Investopedia recommend trading bitcoin at a regulated cryptocurrency exchange, such as Gemini Trust, rather than a traditional forex exchange, because cryptocurrency exchanges understand the market and security requirements better than forex markets. Bitcoin’s legendary price volatility can excite many investors and traders—especially day traders. That’s the number one rule to become a successful Bitcoin trader. Because of the popularity of cryptocurrency, a market was born to specifically trade cryptocurrency. Although cryptocurrencies like bitcoin are gaining popularity, there are still many associated risks. Bitcoin is a digital currency, so investors may think of it in terms of the foreign currency exchange (forex) market. For instance, there will be a time when the prices start going down. 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. 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.what is the best bitcoin wallet Having a cut loss and a profit target price will help keep you level-headed in times of pressure during a trade. Bitcoin’s legendary price volatility can excite many investors and traders—especially day traders. A forex trade is simply an exchange of one currency for another at its current rate. But even though talk about “trading pairs” just like forex traders, trading bitcoin is not like forex in important ways. For instance, there will be a time when the prices start going down. By making it a rule to trade only what you can lose, you won’t be very tense and worried when you’re trading Bitcoin since you can shoulder the losses. If the prices still keep going down, you’ll realize that you should’ve sold your Bitcoin. Taking away the thought of losing all of your savings will make you a better trader by preventing you from “panic selling.” So, today, it’s better to think of more simply: it’s like buying an asset, watching its price rise or fall, and choosing to hold or sell it at a later time. 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. However, there will be a time that prices will suddenly go down.