E Is Bitcoin Pullback An Opportunity To Buy?

The price of bitcoin has pulled back to trade at around $56,000 after hitting a new historical high of more than $61,900. The pioneer cryptocurrency has demonstrated over the last few months its undoubted potential despite still facing a cloud of pessimism from anti-crypto investors. 

However, crypto enthusiasts will be looking at the current pullback as an opportunity to buy bitcoin before the next bull-run begins. Nonetheless, the volatility exhibited by the BTC/USD alongside other cryptocurrencies suggests that there could more options to profit from bitcoin in 2021.

silver iPhone 6 beside two coins

                                                                                                            Image Source: Unsplash

Trade BTC/USD Volatility

Trading bitcoin may be a more viable option for traders looking to benefit in the short term. The BTC/USD has experienced highly volatile trading sessions, which means that there are opportunities to benefit from both sides of the trade. One of the ways to achieve this would be via crypto CFD trading platforms including online forex brokerages. However, margin trading is often a high-risk form of trading. As such, it may not be suitable for all traders. Novice traders would probably be better off investing in other assets like stocks or mutual funds. 

Nonetheless, new trading technologies have emerged allowing inexperienced traders to make money by simply copying the trades of expert traders. Etoro has been the leading provider of copy-trading services over the last decade and has since inspired similar services to come through. So, is eToro legit for crypto trading via CFDs? Several reviews suggest it is. They introduced crypto copy trading services a few years back, which has demonstrated success. This could be an ideal avenue for novice crypto traders to make money in the highly volatile bitcoin. 

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Disclosure: The material appearing on this article is based on data and information from sources I believe to be accurate and reliable. However, the material is not guaranteed as to accuracy nor does ...

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