Thinking about day/swing trading BTC? Read this

Don’t. Profiting is extremely difficult and unrealistic since the fees and taxes require you to make moonshot predictions in order to just break even. So let’s run through a scenario and say you have $100 to spend on an exchange like Coinbase. Entering your position you have to pay a fee which can vary but as of right now it’s 4.5%. That’s $95.5 in your position now. When you’re ready to sell, that’s another 4.5%. You would have to hold BTC for +9% to break even just for fees. But since you sold keep in mind you also have capital gains tax. This can also vary depending on several factors including how long you’ve held on to your BTC but in this scenario we’ll say it’s 20%. Your decision to buy and sell would’ve needed to yield 29% gains just to break even. You’re literally better off holding through a 25% dip rather than selling at the peak and buying back on the bottom.

I understand I’m oversimplifying this but I’m just proving a point, feel free to correct me if I’m wrong or if I’ve missed or anything, this is just how I see it.