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Are cryptocurrencies good for short term gain?  

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Roach
New Member
Joined:3 years  ago
Posts: 4
26/03/2018 9:11 pm  

If I am solely looking for extra income within the next 1-2 years, so short term rather than long term investment, are cryptocurrencies a good thing to look into? I need something which will give me an extra sum of money within the next 1-2 years and stock options don't seem to be able to do that so I was wondering if crypto is able to give quick gains?


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Miranda
Active Member
Joined:3 years  ago
Posts: 10
16/04/2018 12:33 am  

It really depends on the crypto you invest. If you bought BTC in December and sold it off a month earlier, that would have been a great short term investment, given you bought around $50k or so.


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admin
Member Admin
Joined:3 years  ago
Posts: 79
16/04/2018 3:37 pm  

Roach, 

the increased volatility of the cryptocurrency markets can create more opportunities for traders looking to make short term gains but it's a bit more difficult in the present market than it was in 2017. If you're willing to be a more active trader and take advantage of those opportunities it can be done but the overall risk may mean that it's not worth it. 


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