last month i lumped £2000 GBP on bitcoin, i bought in at around   $14500    , i used a platform called avatrade ( please do not use this company as they have zilch customer service )    anyway because i deposit £2000 i was told a rep would contact me and give me little advice on how to trade etc.    i waited and no call, then despite 7 emails in a week to them and approx 20 phone calls i never got through,   this made me withdraw my money out at $14.300   so i made a tiny win at least i did not lose. 

 

i say this only to let you guys know not to use www.avatrade.com

 

now the answers to my question i need is ....if i had of had the balls and held the $2000 for a little longer and it shot up to $20.000  2 days ago  exactly how much would i have made ?  

 

so, today bitcoin again is fallen down to $14.200 something ,  if i do indeed to throw say for instance £100 GBP  onit,  then it shoots up to $20.000  again, how much will i make ? 

 

cheers 

JACK

PS....if i do throw some money in again today should i take a punt on what ?   litecoin, ripple , euthereum ?  advice plzzzz

I may be wrong but I reckon the formulae for profit is 2000/145000 x (20000-14500) which comes out to 758.6206896551724 usd. So with your original stake you end up with 2758 approx. Minus fees.

Edited December 25, 20178 yr by jesimps

Please don't take this the wrong way, I honestly have nothing but good intentions with the following... don't get into crypto's unless you know what you're doing. I would not buy anything else at this point, instead I would take a week or two and do some solid research into general crypto currency technology followed by some research into some of the different coins currently available. Use that research to form an opinion on which of these coins you believe will still be around in a 5 years time.

On 24/12/2017 at 2:40 PM, pumpjack said:

i bought in at around   $14500

 

On 24/12/2017 at 2:40 PM, pumpjack said:

this made me withdraw my money out at $14.300

 

On 24/12/2017 at 2:40 PM, pumpjack said:

 so i made a tiny win

 

You lost me there.

I would stick to tulip bulbs.

Very confusing OP, spending pounds then referencing the value in $US and the decimal point is moving, talking about the $US value of one bitcoin then $US value of 1% of one bitcoin.

IF you buy at $US X and sell at $US Y, the profit or loss is the difference between X and Y. Then a profit or loss converting the dollars back to pounds.