Ethereum’s Dencun Upgrade is the next major update to the network that core developers have chosen to work on. Learn more about it in this article.

Even after countless upgrades to the Ethereum blockchain, we’re only 

 in 2022, Ethereum’s post-Merge upgrade schedule is likely to follow its original road map, which 

, which allowed Ether stakers to finally withdraw their deposited ETH, we’re seeing Ethereum’s core developers resume their post-Merge road map now that the way forward has been paved.

Known as the “Dencun” Upgrade (a portmanteau of “Deneb” and “Cancun”), the Ethereum blockchain’s upcoming upgrade aims to improve the network’s overall scalability and security. In total, the upgrade comprises five Ethereum Improvement Proposals (

) that will supposedly increase data storage and lower costs. 

Curious as to how the team will set out to accomplish this? From 

, here’s all you need to know about the Ethereum Dencun Upgrade and how it might impact ETH prices once it’s fully implemented this year.

Ethereum’s Dencun Upgrade is the next major step forward for the network that core developers have chosen to work on. Labeled the “Surge” portion of the 

’s road map, Dencun aims to improve the blockchain’s maximum number of transactions per second (

) without sacrificing concerns like security and ease of development for Layer 2 decentralized applications (

It's important to note that the Ethereum Dencun Upgrade isn’t merely a software update, but rather a significant milestone for Ethereum. In a nutshell, Dencun aims to improve the network's 

 and security, and to lower transaction fees — which could attract more users to the network. According to 

 of the Ethereum Foundation, October 2023 was a feasible goal for Dencun's activation. However, the upgrade was later 

, a possibility that had been discussed by core developers. The launch for the Ethereum Dencun Upgrade will likely be in the first quarter of 2024, and will include the following EIPs:

If you would like to check the progress of the update, you can do so 

Proto-Danksharding & Blob Carrying Transactions

As a new transaction format that’s introduced by 

, a binary large object (BLOB) refers to large data packets integrated into Ethereum’s network to boost overall transaction throughput. These “blobs” consist of additional information temporarily stored on the Ethereum consensus layer, which facilitates a more cost-effective and affordable solution for reducing overall gas fees.

Blob-carrying transactions essentially allow a transaction sender to attach a large chunk of data, akin to how large files are attached to emails prior to sending them. This ultimately frees up more space for transaction data on 

 protocols, which will make transactions more affordable in the long run as it reduces the fees for posting data to Ethereum.

What Is the Deneb Upgrade, and How Does It Differ From the Cancun Upgrade?

If you’re just getting started within the Ethereum ecosystem, you may be curious about the term "Cancun" being thrown around by some crypto enthusiasts. Essentially, this is a reference to the upcoming Ethereum network upgrade, which will involve updates to both the 

. The Cancun Upgrade specifically pertains to the update of the Ethereum execution layer, while the Deneb Upgrade focuses on the network’s consensus layer. 

These upgrades will be taking place simultaneously, so there's no need to worry about any potential delays in the execution of either one. It's worth noting that both updates are being implemented to improve the overall efficiency and security of the Ethereum network, which is exciting news for anyone involved in the Ethereum ecosystem. Whether you're a seasoned user or just starting out, this upgrade is definitely something to watch for.

 will be implemented primarily to provide data availability support for the highly awaited EIP-4844, known as Proto-Danksharding. That aside, Deneb will also include the following EIPs:

Why Is Everyone Talking About the Ethereum Dencun Upgrade?

Like The Merge, the Ethereum Dencun Upgrade represents yet another step in the right direction for the Ethereum Foundation and its core developers as they strive to complete the 

 portion of their road map. The execution of Dencun for the Ethereum blockchain marks the first significant step toward overall project progress, since Proto-Danksharding is a key EIP that must be executed to enhance transaction throughput. 

This has once again sparked interest in the long-term value of investing in Ethereum. It continues to become the most widely adopted smart contract platform to deliver on fulfilling the promises of its road map. With Dencun being imminent, interest is peaking in the potential upcoming volatility to come from the execution of this major network upgrade.

The Ethereum Dencun Upgrade has already gone live on the Goerli and Holesky testnets and the Sepolia testnet faucet, and users are anticipating its mainnet launch.

What Does the Ethereum Dencun Upgrade Aim to Achieve?

From scalability to better security, here are some of the most talked-about improvements to come with the Ethereum Dencun Upgrade.

The temporary storage and retrieval of off-chain data via Ethereum nodes will resolve the key issue of scalability for the Ethereum blockchain. Proto-Danksharding will significantly increase transaction throughput, which can improve the overall user experience as transactions are processed at a greater rate without fear of congestion or being bogged down by traffic demands. 

The introduction of Proto-Danksharding and related EIPs is expected to address the issue of high gas fees on the Ethereum network. By optimizing transaction processing and reducing the burden on network resources, the upgrade may lead to transaction costs as low as a fraction of a cent. This remarkable fee reduction would be particularly beneficial for investors who frequently engage with the Ethereum ecosystem and its related DApps. From 

, this could lead to even greater adoption of the Ethereum network in the future.

The Dencun Upgrade also incorporates various improvements and bug fixes, enhancing the overall security and stability of the Ethereum network. For ETH investors, this will mean a more robust ecosystem with reduced vulnerability to potential attacks or network disruptions. By satisfying a critical area of the 

, crypto enthusiasts and newcomers who invest based on a network’s security and stability may have more confidence in investing in ETH for the long haul.

The Impact of the Ethereum Dencun Upgrade on ETH Prices

Taking into account the Ethereum Foundation’s solid track record of executing network upgrades, the Ethereum Dencun Upgrade sounds like nothing but good news for 

 and long-term investors. This is because implementing the numerous EIPs will help strengthen Ethereum’s core fundamentals and facilitate mass adoption once interest builds again in crypto during a bull run.

Conversely, this might also be a case of “buy the rumor, sell the news,” whereby ETH traders and speculators may decide to sell off their ETH holdings or short-sell ETH once the Dencun Upgrade is completed. This is intended to take advantage of retail investors and traders buying up ETH on the basis of 

Keen to learn how you can profit from the near-term volatility caused by the Ethereum Dencun Upgrade? Read on as we cover our 

 takes on how ETH prices might move post-Dencun update.

Ways to Profit from the Ethereum Dencun Upgrade

Here are our thoughts on how to trade ETH in the event of pronounced Ether price volatility. All of our outlooks will be based on the ETH chart displayed below, and represent possible scenarios in which ETH prices could fluctuate.

Understanding how to identify strong support levels for purchasing during dips can significantly enhance your trading success. 

As we analyze the price chart, it's clear that Ethereum has experienced significant volatility with a pattern of peaks and valleys. Notably, there seems to be a consolidation phase above the $2,200 level, which might be interpreted as a support zone. This area could be significant for traders who follow the strategy of 

, hypothesizing that the price is more likely to rebound from these levels.

With the Ethereum Dencun Upgrade approaching, market participants may be closely watching the $2,200 level. Upgrades like Dencun often bring heightened attention, and can influence investor sentiment. If the upgrade is expected to have a positive impact on Ethereum's network efficiency and overall value, we might observe its price stabilizing or increasing as the event draws closer.

Ether could potentially hover around this price range, as investors may view the upgrade as a catalyst for future value appreciation. It's common for prices to consolidate before such events as investors take a “wait-and-see” approach. This period of consolidation may represent a form of equilibrium in which the market is balancing optimism about the upgrade's potential benefits against the inherent risks and uncertainties.

FOMO is a powerful driving factor in the crypto space — and this could certainly be the case with the essential Dencun network upgrade. Thanks to FOMO, traders might jump on the ETH bandwagon if the upgrade proceeds without a hitch. To take advantage of this FOMO-induced ETH rally, it might make sense to build a trading plan around a stop market leveraged long order and buy the 

 would want to see ETH prices retest the bottom of the ascending channel at around $2,200. If ETH can break through this price barrier, we might see its price surge toward the $2,700 to $2,800 range.

While the long-term prospects of the upcoming Ethereum Dencun Upgrade might sound bullish on a fundamental level, there are still a host of other factors that could cause ETH prices to decline in the short term. Some of these negative catalysts include:

Any negative crypto news might cause a breakthrough of Ether’s existing area of support and result in ETH prices heading toward $2,000. If you have a bearish outlook on Ethereum and ETH prices, it would be ideal to build a trading plan around a stop market leveraged short order by buying the leveraged Perpetual token pair 

If you're interested in trading Ethereum and making a profit off of the Ethereum Dencun Upgrade, then you might want to read our guide on how to get started with trading ETH. 

. From there, you can locate ETH3L pairs if you're bullish, or ETH3S pairs if you're bearish. 

Once you're in the trading interface, it's important to change your order type to 

. This type of market order can help you maximize short-term gains while limiting your maximum loss, thanks to the 

 in place. (For trading beginners, the stop-loss feature keeps your losses fixed, according to your risk tolerance, so you can trade with greater confidence.)

Before inputting your price levels, it's crucial to check for 

, which can be useful when placing your price levels. However, keep in mind that the strength of these levels can vary based on your personal risk appetite.

Assuming you’ve funded your account, you can proceed to input the fields present in your ETH3L or ETH3S leveraged token stop market order. Once you’ve inputted all the necessary information, submit the order to place your trades. With these tips in mind, you should be able to get started with trading ETH on Bybit and potentially profit from the Ethereum Dencun Upgrade.

: Calculated as (Entry − Exit before rebalancing)

: Calculated as (Exit − Entry + Volatility Decay + Fees)

Keen on reading more about strategies for trading with Spot and Derivative products on Bybit? Check out our guide on 

Other Ways to Profit from the Ethereum Dencun Upgrade With Bybit

Exploring other ways to profit from the Ethereum Dencun Upgrade? Look no further! Bybit is running a total of 

 for you, with a total prize pool of 415,000 USDT to maximize your gains.

In preparation for the Dencun Upgrade originally planned for October 2023, Bybit hosted two events. If you didn't get a chance to participate in these events, continue reading to discover the upcoming Ethereum Dencun Upgrade events we have lined up!

Learn to Earn From the 5,000 USDT Prize Pool

The first event took place two weeks before the initially-planned Dencun Upgrade, as users could show off their knowledge of the upgrade to earn a share of the 5,000 USDT prize pool!

Take part in the Learn to Earn campaign’s quiz, and get all the answers correct to be eligible for rewards. The first 600 new users to get all answers correct received 5 USDT each, while the first 500 existing users to get all the answers correct, received 4 USDT.

The second event is known as the Cancun Supreme Scorer 2023. It took place from Sep 25, 2023, 10AM UTC through Oct 13, 2023, 10AM UTC.

To take part in this event, users were required to follow the rules below:

If they wanted to boost their points, they could do so as follows:

The grand prize pool stands at 80,000 USDT, split as follows:

The Point Ranking Prize Pool is broken down as follows:

The Prediction Ranking Prize Pool is broken down as follows:

Stay tuned for the following six events, which will provide you with even more opportunities to earn with Bybit! Check out 

Deposit and Earn from the 30,000 USDT Prize Pool — New Users Exclusive

The Deposit and Earn event is being held exclusively for new users. To participate, simply complete the following steps:

Once you’ve completed the above steps, you’ll receive 20 USDT. Please 

 that rewards will be distributed on a first-come, first-served basis.

Trade to Earn From the 60,000 USDT Prize Pool

Dive into the Trade to Earn event to unlock rewards worth 60,000 USDT! This event is only applicable to the following token pairs:

 Engage in Trading and Grab a Share of 50,000 USDT

To stake your claim in this reward pool, engage in trades involving any of the qualifying tokens. Ensure your Spot trading volume crosses the threshold of 100 USDT during the promotional phase. Remember, the more active you are, the heftier your rewards.

Participants can equally divide the 10,000 USDT reward by accomplishing the following during the event:

When setting up bots, users are restricted to investments in USDT only

Trade Derivatives and Invite Friends to Earn

The third event enables you to trade derivatives and invite friends to earn a share of the 150,000 USDT prize pool. In fact, you can win up to 2 ETH! 

Stake to Earn From the 40,000 USDT Prize Pool

The next Earn event allows users to unlock rewards worth a total of 40,000 USDT.

Intermediate

AUG23_R51_Evergreen_Educational_Ethereum_Cancun_Upgrade_The_Impact_on_ETH_Prices.png

Ethereum Dencun Upgrade: The Impact on ETH Prices

Spot grid trading bot is an effective tool to help traders make profits in volatile markets. Learn how to use Bybit Spot Grid Bot to optimize your trading returns now.

The volatility in cryptocurrency trading makes it intimidating for those unfamiliar with crypto, but with the right tactics, you can secure high returns without being a trading expert. One of the easiest trading strategies for making profits is grid trading. This form of trading harnesses the power of 

 to automate buy and sell orders by taking advantage of the volatile crypto price fluctuations. 

 and spot grid trading bots. In this article, we’ll get acquainted with the Bybit Spot Grid Bot, which is crafted to help conservative traders sit back and chill while 

Spot grid trading is a nifty tool that allows you to place orders above and below a specific price, creating a neat grid of orders at gradually increasing or decreasing prices. The spot grid bot is especially effective in volatile markets, where prices tend to fluctuate quite a bit. This tool is designed to help traders make profits on small price changes, which is perfect for those who want to take a more conservative approach to trading. 

Once this type of grid trading bot has been programmed, it will immediately begin to place buy and sell orders at various points within the range. As long as the asset's price fluctuates within your set range, you can generate profits without actively managing the bot. 

Nearly all crypto grid trading solutions are similar. First, you select a spot grid pair. Next, set the lower and upper price limits. When doing so, keep in mind that there are maximum and minimum price limits for the upper and lower prices. The following step involves creating a certain number of grids. 

With Bybit Spot Grid Bot 3.0, the minimum number of grids you can set is two, and the maximum is 330. The system will automatically adjust the maximum number of grids based on your selected price range. For instance, if you set a narrow price range, the maximum grid count will reduce correspondingly so that you’ll make sufficient profits to balance the trading fees.

After setting your price and grid limits, the spot grid mode will immediately split your capital between your selected trading pair assets (e.g., BTC/UDST). A grid of varying price points is then made between the lower and upper bounds you set, after which your starting funds are divided equally between the grids. 

When using this grid trading strategy, the bot will automatically sell some of your assets whenever the crypto's price reaches the uppermost grid line. The traded asset is automatically purchased once the price hits the lower line. You'll profit from the total difference between the buy and sell orders.

To illustrate, suppose John has 20,000 USDT and wants to capitalize on BTC's price volatility at $43,773.22. If he selects the manual grid trading bot mode and sets a range of 35,550 – 47,200 USDT, divided into 50 grids, buy and sell orders will be placed at every 234 USDT interval.

When John initiates his trade, he will begin at the midpoint of the predetermined price range, which is set at $43,773.22. At this stage, half of his 20,000 USDT investment will be converted to BTC automatically. The grid trading bot will then create a series of 400 sell orders for BTC at intervals of 234 USDT, starting from 47,200 USDT and 400 buy orders at decreasing intervals down to 35,550 USDT. As the market price of BTC hits each sell or buy order, the bot will adjust the entire grid by setting a new starting point based on the latest price.

The Bybit Spot Grid Bot has a simple and intuitive interface that enables you to choose an artificial intelligence (AI) strategy to create your bot strategy in a single click — or easily set up a price range in a few steps, if you prefer more control over your strategy. 

Bybit Spot Grid Bot supports multiple spot quote markets — USDT, USDC, BTC and DAI pairs — empowering traders to diversify their trading strategies across more markets. The USDC-quoted pairs can even be traded at zero fees.

Bybit Spot Grid Bot 3.0 Enhanced Features

The latest version of Bybit Spot Grid Bot comes with five enhanced features, as described below.

With the original Bybit Spot Grid Bot, the maximum number of grids you can set is 200. Bybit Spot Grid Bot 3.0 expands that number to 330 so that you can devise more elaborate and sophisticated trading strategies. This enhancement supports more nuanced approaches, enabling traders to capitalize on even the subtlest price fluctuations and potentially enhance profitability in the dynamic financial markets.

Previously, you could only initiate a bot with the quote coin for your selected pairing, but Spot Grid Bot 3.0 introduces greater flexibility by allowing you to open a bot with the base coin as well. With three distinct investment modes

 Base Mode, Quote Mode and Base+Quote Mode — you can tailor your currency preferences. For instance, opting for the BTC/USDT pair in Quote Mode enables you to invest with USDT, while Base Mode allows you to invest using BTC. When you select Base+Quote Mode, you get to invest with both USDT and BTC without having to first convert your USDT to BTC, so you save on trading fees. 

You can directly withdraw your grid profits, ensuring immediate liquidity for your funds without having to deactivate your bot

This streamlines your profit-making process, giving you swift access to your earnings while your trading bot seamlessly continues its operations.

Unlike the previous version, Bybit Spot Grid Bot 3.0 introduces a significant increase in the number of BTC-quoted pairs, now offering a total of 12. When coupled with Base+Quote Mode, you can adeptly seize opportunities presented by market fluctuations. This is achieved through the automatic exchange of higher-value assets for lower-value ones during the respective bullish periods of each cryptocurrency. For instance, if you choose to set up a grid bot for the ETH/BTC pair, you can seamlessly navigate between ETH and BTC, automatically adjusting your asset allocations based on market conditions. This flexibility allows you to optimize your trading strategy and potentially maximize your profits.

The Bybit Spot Grid Bot allows you to use an artificial intelligence (AI) strategy or manually set a price range at which the bot will perform automated sell and buy orders. 

The first thing you need to do before using a Bybit Spot Grid Bot is to create a 

area on the Bybit trading bot page. Once you've reached this section, find your favorite strategy among the rankings before clicking on 

, which will redirect you to the Bybit Spot Grid Bot page. 

Automating Trades With Spot Grid Bot AI Strategy

If you'd prefer more control over when and how your trades occur, you can choose to manually set parameters. The first step involves selecting your preferred trading pair. Next, choose the lower and upper price bounds at which you wish to implement the trades. In addition, manually set the following fields:

Once you've inputted all the information, click on the 

button. You'll then be asked to confirm the choices you've made. Give one final review to the parameters you've selected before clicking on 

Benefits of Using the Bybit Spot Grid Trading Bot

There are many benefits associated with using the spot grid trading strategy, from low entry point to better 

By setting predetermined price levels you can easily glide in at lower levels, as compared to manually trading, and effortlessly manage orders at multiple low entry points without constantly watching market prices. This is particularly helpful when trading in volatile markets.

Once you've set your desired limits, the bot automatically executes trades for you, day and night. This means no more constant market monitoring or missed opportunities. Plus, you can create multiple grid trading bots to maximize your profits on various spot pairs. With the Bybit Spot Grid Bot, you can command up to 50 trading bots all at once.

When making trading decisions, emotions can sometimes cloud your judgment, leading to loss. Meanwhile, grid trading bots rely on a clear-cut algorithm with well-defined parameters to make decisions, giving you a more controlled approach for consistent profits. Moreover, these nimble bots can buy and sell much faster than in manual trading, giving you a leg up in the market. 

There are minimum and maximum limits for the low and high price points at which trades are made, which can reduce your risk of losses if you conservatively set the limits. By using multiple trading bots across varied trading pairs, you can diversify your investments and boost your overall profits, even if some coins don't perform well. 

Since the Bybit Spot Grid Bot covers a wide variety of trading pairs, including ETH/BTC and BTC/DAI, you’ll gain access to more assets and have the chance to explore more trading strategies. 

Bybit Spot Grid Bot supports multiple spot quote markets, so you can capitalize on numerous potential arbitrage opportunities based on the price fluctuations across various trading pairs. The upgrade to Bybit Spot Grid Bot 3.0 further broadens your arbitrage possibilities, as you can respond to dynamic market conditions by making swift adjustments in allocations via Base+Quote Mode.

The advanced algorithm that the bot uses automatically optimizes grid strategies. This fosters greater possibilities to profit from your trades, as the bot is designed to adapt and respond to real-world market conditions. Spot Grid Bot 3.0 also allows you to reap profits immediately without stopping your bot, so you can continue to trade while receiving profits.

BTC holders will appreciate the convenience of Bybit Spot Grid Bot 3.0's Base Mode, which facilitates the initiation of a bot purely with BTC. Base+Quote Mode adds even more flexibility, as you can open a bot without having to convert your quote coin to BTC. You also save on trading fees with Base+Quote Mode, as you don't have to convert your quote coin to BTC.

Creating a Profitable Grid Trading Strategy

Even though a grid trading bot can simplify trading with its AI strategies, you can unlock its full potential to maximize your profits by exploring its advanced features and settings. If you want more control over your grid trading strategies, you can take advantage of these features:

It's highly recommended that you find an exchange with low trading fees to get the most out of spot grid bots. Bybit offers low trading fees at 

Bybit's user-friendly Spot Grid Bot can boost your trading game by increasing profits and efficiency, while keeping your stress and risk levels to a minimum. If you're eager to boost your earnings with a handy helper, the 

 is an essential sidekick that will help you reach your investment goals.

Beginner

Bybit_Spot_Grid_Bot.png

What Is a Spot Grid Bot, and How Does It Work?

There is no better time to trade Bitcoin than now. Learn four Bitcoin trading strategies and more tips that will make your trades a success.

After experiencing a price decline of over 75% between 2021 and 2022, 

 has staged an impressive recovery, surging to $35,000 in early November 2024 and marking a level not seen in almost two years. Since its bottoming in November 2022, Bitcoin’s new bull run is drawing investors and traders back into the market. 

Additionally, regulatory changes are fueling Bitcoin's upward momentum, with the emergence of instruments like Bitcoin ETFs making a notable entrance to the scene. Interested in being a part of this Bitcoin rally? In this article, we delve into various strategies for you to easily reap profits in your Bitcoin trading in 2024.

Bitcoin trading has gained tremendous popularity in recent years, offering investors an opportunity to profit from the volatile nature of the world's most famous cryptocurrency. With the emergence of new financial products like Bitcoin exchange-traded funds (ETFs), the Bitcoin trading landscape is evolving significantly.

Bitcoin trading refers to the practice of buying and selling Bitcoin in financial markets to make a profit. Traders can participate in the Bitcoin market through various platforms, including cryptocurrency exchanges, brokerages and — in the near future—Bitcoin ETFs.

There are many different products for traders to invest in that mimic Bitcoin’s price movements. 

For example, cryptocurrency exchanges offer spot trading, options and futures contracts for investment and trade. Additionally, there are contracts-for-difference (Bitcoin CFDs), which are a form of Bitcoin derivative. CFDs allow traders to speculate on the price movements of Bitcoin on a short or long-term basis and profit from price changes without actually owning any coins. 

Lastly, Bitcoin ETFs are entering the trading arena.

In 2024, one of the most significant developments in the world of Bitcoin trading has been the introduction of the Bitcoin exchange-traded fund, or 

. This financial instrument is designed to make it easier for traditional investors to gain exposure to Bitcoin without the complexities of owning and managing the actual cryptocurrency.

A Bitcoin ETF is structured like a traditional exchange-traded fund, but holds Bitcoin as its underlying asset. This means that by investing in a Bitcoin ETF, you have indirect exposure to the world’s largest and first successful cryptocurrency without the need to set up and secure a 

. Bitcoin ETFs are traded on major stock exchanges, just like stocks, making them more accessible and familiar to traditional investors.

, have applied for approval to launch a Bitcoin ETF, with their applications anticipated to be granted. Once these Bitcoin ETFs receive the green light, demand for Bitcoin is likely to increase as Bitcoin becomes more accessible to a broader range of market participants.

Opening an account and creating a Bitcoin wallet is a quick and easy process. Here's a step-by-step guide on how to start Bitcoin trading in 2024.

Choosing the right cryptocurrency exchange is critical. Look for a platform with a good reputation, high security standards, a user-friendly interface and consistently recommended customer service and satisfaction, such as Bybit, which is a highly reliable exchange with diverse Bitcoin trading options. 

Additionally, ensure your selected exchange can offer cryptocurrency trading to your country of residence. This is crucial, as exchanges are becoming increasingly regulated to operate based on each country's rules and guidelines.

Sign up for an account on your chosen exchange. This process typically involves providing personal information, verifying your identity and setting up security measures, such as two-factor authentication. Remember to store your login credentials and recovery information securely.

Once your account is set up, deposit your preferred fiat currency (e.g., USD, EUR) or other cryptocurrencies into your exchange wallet. This is the capital you'll use to start trading.

With funds in your exchange wallet, you can begin trading. Familiarize yourself with the different trading pairs and order types. Some common trading pairs include BTC/USD, BTC/ETH and BTC/USDT. Make informed decisions, 

 to mitigate risk and consider utilizing 

Crypto trading is inherently volatile, and prices can fluctuate rapidly. It's crucial to 

 by investing no more than you can afford to lose. Diversify your portfolio to spread out your risk, and establish a clear trading strategy with entry and exit points.

Stay updated with the latest news and developments in the cryptocurrency space. Both 

 are great places to glean recent developments. 

Market sentiment can change rapidly in response to news events, regulatory changes and technological advancements. Use reliable sources of information to help you make informed trading decisions.

Bitcoin trading can be both exhilarating and challenging. It's essential to exercise patience, discipline and emotional control. Avoid making impulsive decisions, and be prepared for both gains and losses.

There are a variety of strategies for Bitcoin traders to implement. Below are just a few of the more common types of Bitcoin trading strategies.

ing ("holding on for dear life”), a long-term directional position that Bitcoin's price will increase over time. This strategy is less concerned with daily, weekly or monthly price movements, instead focusing on the long term.

Traders consider the current price of Bitcoin and how it compares to its long-term potential value. They may look at blockchain fundamentals or long-term price momentum indicators on weekly or monthly price charts.

 the Bitcoin trader wants to capitalize on medium-term trends in the market. Swing traders believe the market doesn’t move in a straight line and will experience large corrections from time to time. 

Therefore, a swing trader will want to lock in profit on a bull trend, then short or wait to re-buy at a better value. This allows the swing trader to better utilize their capital than waiting through long corrections. Most swing trades are held open for a couple of days to a couple of months.

, as holding Bitcoin positions overnight can incur overnight funding charges. Therefore, they seek shorter-term trades that they can open and close on the same day.

The day trader’s strategy is to analyze short-term price chart patterns and find small opportunities that are repeatable each day. Day trading relies heavily on chart reading and technical analysis.

 is a shorter-term, more active trading style than day trading. Scalpers are in the market for minutes at a time, trying to pick up just a couple of points each trade. Since this form of trade requires speed, many scalpers utilize automated trading, which lets them create a custom program for their trading strategies.

Scalping typically involves a high win rate and is very risky. It only takes one losing trade to eat up the profit from several winning trades.

Trading Bitcoin is a challenging endeavor, given the cryptocurrency's inherent volatility. To succeed, you’ll need a robust strategy and a commitment to continuous learning. Here are some valuable tips to help you navigate Bitcoin trading successfully in 2024 and beyond.

When it comes to trading Bitcoin, knowledge is power. Before making any trade, invest your time in researching the cryptocurrency market. Review Bitcoin’s historical price trends and the size of its typical drawdowns and corrections. It’s critical that you take the time to review and study factors that influence Bitcoin’s value, so we’ve compiled the following list.

Fundamental analysis in this case involves assessing the intrinsic value of Bitcoin by evaluating the factors that drive its price, such as adoption rate, network security and 

, regulatory developments and macroeconomic trends. For example, regulatory changes in major economies can have a substantial impact on Bitcoin's price.

Technical analysis is the study of price charts, trading volume and historical data to identify trends and predict future price movements. Traders use various indicators and patterns to make decisions. 

 and additional techniques can provide insights into market sentiment, as well as potential entry or exit points. Technical analysis can complement your fundamental research and help refine your trading strategy to spot ideal entry and exit prices.

Staying informed about the latest news and developments in the cryptocurrency space is essential. Market sentiment can shift dramatically in response to news events and regulatory changes. For example, developments in the approval of Bitcoin ETFs can generate more demand for Bitcoin. Ensure that you have access to reliable sources of information, such as reputable cryptocurrency news websites and official announcements from exchanges and regulatory bodies.

That said, it's crucial to differentiate between credible news and rumors, or even phony news. The cryptocurrency space is rife with misinformation and rumors that can lead to unwarranted price volatility. 

Always verify information with multiple reliable sources before making trading decisions.

Bitcoin's notorious price swings make diversification a vital risk management strategy. Instead of putting all your capital into a single asset like Bitcoin, consider spreading your investments across various cryptocurrencies. This can help reduce your exposure to Bitcoin's specific risks and create a more balanced portfolio.

Moreover, diversification extends beyond cryptocurrencies. Consider including traditional assets like stocks, bonds or real estate in your investment portfolio. Diversification can help safeguard your capital during times of extreme volatility or lack of volatility in the cryptocurrency markets.

Bitcoin trading is not without risks. To protect your capital, establish a clear risk management strategy. This includes setting stop-loss orders, defining acceptable losses and adhering to a 

. Avoid investing more than you can afford to lose, and save enough capital so you can continue to live comfortably even if you lose your entire investment.

Emotions can cloud judgment and lead to impulsive decisions. 

 are common emotions that can influence your trading choices. Create a trading plan with predefined entry and exit points, and stick to it. Make your trading plan and strategy as systematic as possible. Consider automating your strategy to help remove your emotions from trading. Emotionless trading is a key component of successful trading.

Trading Bitcoin successfully in 2024 and beyond requires a combination of thorough research, a clear trading strategy, effective risk management and a commitment to continuous learning. By staying informed, employing both fundamental and technical analysis, diversifying your investments and controlling your emotions, you can navigate the volatility of the Bitcoin market with greater confidence and potentially achieve success in your trading endeavors.

There are several ways a trader can gain access to Bitcoin with Bybit. Following are three of the most popular products Bitcoin traders use.

 is the simplest, most basic method for trading Bitcoin. New traders typically start their trading journey by interacting with spot markets.

Spot trading refers to buying and selling Bitcoin (or other cryptocurrencies) at the current market price, known as the spot price. The expectation is an immediate exchange or delivery of Bitcoin to the buyer’s account.

Spot buyers in Bitcoin are hoping that Bitcoin prices will rise over time so that they can sell Bitcoin for a profit in the future. This is popular, because spot buyers of BTC can hold onto their coins for as long as they want, with no expiration.

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