We promised another article about peer-to-peer trading, but given the events of yesterday, when the Winklevoss Twins had their Bitcoin ETF denied and panic selling ensued, it’s a good time to talk about what to do when the prices drop sharply in a short period of time. Bitcoin was at a high of almost $1300 and within hours had dropped below $1000. It appears to have slowed down around there, now having climbed back up to over $1100.
If you’re business-minded, you already see where the opportunity was here. If you had been able to get anyone to sell you bitcoins at around $1000 yesterday, you’d already have made more than $100 on each one. That’s a tidy, fast profit. Bitcoin traders love the volatility of the market.