How I Made $1,000 Bitcoin Trading This Week! - Fashion Wanderer

This past week was a gold rush in the Bitcoin trading and digital coin marketplace. The market has seen lots of action this year as we approach the years end.

made $1000 Bitcoin trading this week

We save money in many ways. Below are some of our favorite strategies for saving money monthly. Our current savings is over $1,200 per month!

Bitcoin Trading Related Articles:

Get the latest Bitcoin trading price here.

For money saving tips, continue reading below! Hopefully these tips will help with new ways to save money:

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Why did Bitcoin Crash?

It was a crazy weekend for the digital currency markets as Bitcoin Cash (BCC), a hard fork and wanna be rival to the original Bitcoin, briefly skyrocketed from $650 to $2,500 last Sunday—only to tumble nearly 60% the very next day.

bitcoin cash charts

The original Bitcoin recently declined down below $5,500. We are now seeing a strong recovery and are now trading over $8,000.

bitcoin charts

The market shifts are the latest fallout from a long fought bitter rivalry among cryptocurrency insiders; Segwit2x is the proposed update to Bitcoin's core design. The planned implementation of Segwit2x failed last week, its proponents, largely include Chinese mining organizations, and appear to have rallied into Bitcoin Cash. The frenzy cooled the very next day, and the price fell and is currently sitting around $1,200.

What is a Digital Coin Hard Fork?

In simple terms: A hard fork is when a single cryptocurrency splits in two, when its existing code is changed; this separation results in both an old and new version. Furthermore, a soft fork results in only one remaining valid. So both forks create a split, but a hard fork is meant to create two completely separate blockchains/coins and the goal of a soft fork is to result in one. Segwit was a soft fork, Bitcoin Cash, Bitcoin Gold, and Segwit2x are all hard forks.

The end result of a coin "forking off" to form its own blockchain and/or currency is that there is two of everything. Two separate coins, with two separate ledgers, with two separate sets of code, both originating from the exact same platform and blockchain.

As a result, in the Segwit instance, everyone updated to the new software and used the updated blockchain. As for Bitcoin Cash, two different coins with separate blockchains were formed.

coinbase bitcoin etherium litecoin exchange

How are Hard Forks Created?

In general, a hard fork requires consensus or majority support from coin miners connected to the coin's network.

Thus, a single cryptocurrency with a single blockchain (just like Bitcoin) experiences a "hard fork" when enough people mining the cryptocurrency agree to create a new cryptocurrency with its own blockchain on-top of the existing system starting from a specific block.

Previous Hard Forks in Bitcoin, Ethereum, and Other Cryptocurrencies

As a result, this is how Bitcoin Cash was recently created along with the current version of Ethereum' Ether. A fork like this can occur for any reason, either to innovate (as is the case with Bitcoin Cash) or to repair damage (as is the case with Ether).

FACT: Not every fork will result in digital coin owners getting "free coins," however free coins are created when a legitimate hard fork occurs, and a new cryptocurrency is created. For example, Bitcoin holders received one "free" BCH (Bitcoin Cash) for each BTC (Bitcoin) they owned. That is a ridiculously good deal; the original asset risks a price decrease in "fork" situations like this.

TIP: There are other types of forks as well (forks in general, soft forks, software forks, git forks. Segwit, Segwit2x, Bitcoin Cash, and Bitcoin Gold are all different hard forks in Bitcoin occurring in 2017. The Segwit miners changed the blockchain but kept the Bitcoin name; there is some conflict over how this will work with Segwit2x. However, Bitcoin Cash and Bitcoin Gold created new coins.

TIP: When a cryptocurrency forks, you want to be holding that cryptocurrency in a digital wallet and not active in an exchange.

coinbase bitcoin etherium litecoin exchange

How I Made Over $1000 Profit Trading Bitcoin In 1 Week

There was a tremendous amount of excitement around the SegWit2x update. The market surged in excitement and peaked just below $8,000 with a sudden shift. A group of miners split off and formed an entirely new cryptocurrency, Bitcoin Gold. The Segwit2x update was canceled and the result was a sharp decline in the value of Bitcoin below $5,500.

Bitcoin support quickly rallied and the price recovered. Currently, the Bitcoin trading marketplace is extremely unstable, but retains immense potential uses. The future is bright for blockchain technology, but the road will be bumpy! Some experts project Bitcoin to exceed $100,000 in the next 5 years.

I will continue to be actively engaged in observing the trends and growth of the cryptocurrency marketplace. I began with an initial investment of $2,000 in May 2017. Its been a rocky ride, but have more than doubled my investment in the past 6 months.

As a result of the failed SegWit2X update the prior week, Bitcoin plummeted to around $5,500 and quickly began another ascension. I bought $4,000 worth of Bitcoin during a split second it was trading at $6,000. The cryptocurrency has risen over $8,000 today, with a total personal earning over $1,000 and climbing.

There will continue to be many possibilities to make gains in the Bitcoin trading market. I look forward to capitalizing on opportunities that present themselves along the way during the exaggerated, boom-bust cryptocurrency bubble.


How to Get Started

Buying, using and Bitcoin trading is getting easier by the day. Bitcoin core developers maintain Bitcoin.org; it offers a great Getting Started Guide on how to get up and running.

Coinbase.com is the easiest way to start Bitcoin trading. Coinbase allows you to buy Bitcoin directly from your bank account or credit card, store your coins in an online wallet, and pay using Bitcoin for a large number of merchants from Overstock.com to Home Depot, CVS, Kmart and Amazon. If you sign up now here, you will get $10 on your account to buy Bitcoin.

A word of caution


Bitcoin is currently no means of a replacement for your checking account or credit card. it faces extreme fluctuations that can span hundreds of dollars in a few hours and thousands in a month. The value quickly soars or destroyed almost instantly.

Moving completely away from a central bank currency such as the dollar, euro or yen into Bitcoin is pretty risky, and you should be careful not to over speculate.

coinbase bitcoin etherium litecoin exchange

Final thoughts


In conclusion, Bitcoin is controversial because it raises many questions about the need for central bank or government printed money. Bitcoin is de-centralized, not regulated by any one main body, entity or nation. It is borderless and that is what gives it so much potential. It has forever changed the way I consider money and how I will be able to pay for things in the future. I use it internationally because it's often way cheaper and faster than other payment transactions.

Bitcoin trading isn't for everyone, but it's another option for people who regularly send money internationally and merchants looking to lower-fees for credit cards.. Bitcoin is still in its infancy; and as with the previous fast growing tech bubble, there are bound to be some growing pains on the way. There's no telling what the future of payment systems will look like, but I hope it includes Bitcoin and blockchain technology in some way shape or form. It saves me time and money every day, and can possibly do the same for you.

This article is not investment advice.

Consult a professional when making financial decisions.

XOXO

fashion wanderer

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