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So it's just like stocks?
Like i know there is Bitcoin, Ether, and something else and I've been curious for a bit.
It is like speculating which I basically do. I agree with Mark Cuban and Tony Robbins and others. If you put money in bitcoin, you must treat that money as if it were already lost. It is a true gamble. Robbins said this is something you play with for fun with 10% of your portfolio max. That is how I operate too. I have "real" stocks like Tesla, Apple and Facebook. Majority of my money is in that. And like 10% I just fuck around with for fun.
It has spilled over into stocks too. This bubble. A company just says they are blockchain tech now, which is tech behind bitcoin, and their stock soars. Then fuckin collapses. I have made money off it though. Like this one company just yesterday, I sold at 15 after buying for 13. In two days. Its called swing trading. You get the rhythm of a stock and figure out its range. The ceiling and floor it bounces between. When it is near the floor, I buy it until it bounces back and I sell it. rinse and repeat. I'll do that with penny stocks too. Buy hundreds or thousands of them and make like a nickel on each. 13 cents to 18 cents.
There are such things as meme stocks. Stocks with high volume and everybody is interested in. Shit is fun. lol. I am not predicting by any technical analysis but predicting what other people will do. They buy it within that range.
This is one of the blockchain stocks I swing. Riot:
Avoid Volatile and Unpredictable Stocks -- It's Gambling
In the last two days Riot Blockchain Inc. (RIOT - Get Report) has had a range from about $12 to $25. There has been no news to account for that volatility and random action.Other collateral bitcoin plays such as Social Reality Inc. (SRAX - Get Report) and Xunlei Ltd. (XNET - Get Report) have had similarly large trading ranges. No specific company news there, either. Given my risk profile, I never will trade in these stocks. Others believe differently and believe they successfully can skate on this thin ice, but I will stick to my risk appetite, and I believe all but a few professionals may be kidding themselves in rationalizing these stocks "tradeability.
https://finance.yahoo.com/m/295ea7b6-ac02-3461-863c-5111e8a7a3b4/stock-price-deception-is-the.html
That guy is right. I am gambling. I like the thin ice tho. lol. But these price jumps have had nothing to do with technicals/financials but just the craze of bitcoin.