So how risky is crypto trading in general?
You're probably already aware that crypto trading can be risky and most people actually lose money with crypto trading. But how risky is it exactly?
To put it in number - the value of a cryptocurrency such as Bitcoin and increase or decrese 10x in matter of months, if not days.
For example, the price if Bitcoin was around $11 000 in October 2020. In March 2021 it went slightly over $60 000.
In December 2017 it was over $17 000, dropping to just over $3 000 a year later.
And if we talk about the beginning of Bitcoin, then the price changed 52 000% between 2011 and 2013.
So crypto prices can and will change a lot.
If the price of a fiat currency, let's says EUR/USD, changes 10%, it's already considered a big change.
In crypto 10% is nothing.
That's also one reason why an estimated of 53-90% of retail crypto investors lose money. Especially when they are trading CFD's.
Earn free crypto rewards by staking your favorite Polkadot parachain projects.
What happened to Bitcoin on Monday, September 20, 2021?