As the crazy Bitcoin price action appears to continue unabated, there is a lot of momentum to take advantage of. A lot of people are looking to go either long or short on Bitcoin, albeit doing so is not as simple as following one specific strategy. For those who are willing to long Bitcoin, the following options can be considered. Do keep in mind every financial action undertaken will incur risks, and one should never “gamble” with money they cannot afford to lose.
Buy and Hold for the Long Haul
The most straightforward option to long Bitcoin these days is to simply buy BTC from a trading platform or broker and hold the balance in a wallet somewhere. Although this is a very simple process first and foremost, one also has to keep in mind this is a major mental battle. With such wild Bitcoin price fluctuations going on right now, it is very difficult to not pull the trigger and sell Bitcoin for a small profit. After all, there are numerous $100+ spreads every single day to take advantage of, but one has to hold down the…