The match between cryptocurrency and day trading seems to be that perfect storm, for cryptocurrency offers both insane volatility as well as being virtually unregulated, so this makes it a particular wild "investment" for those that believe that they can read correctly the dynamic charts and the tea leaves, thereby making themselves money by trading cryptocurrency.
While, on the one hand, day trading is the complete opposite of the buy and hold strategy of a prudent investment philosophy, day trading does represent for adrenaline junkies a great vehicle to try their luck at the casino of cryptocurrency, and unlike penny stocks, or thinly traded stocks, or most stocks in general, cryptocurrency is volatile, liquid, and trades 24/7, which is exactly what a trader needs if he is hoping to have any sort of success in day trading.
The fact that cryptocurrencies can and do trade in double-digit moves on a given day, represents a fabulous opportunity to trade in and out of a particular currency and provides all the action that any day trader could possibly dream of, creating the opportunity to make real money from the timing of moves done just right. So, truth be told, cryptocurrencies and day trading do go together, whether that is a good thing or not for those that indulge in such is, though, an entirely different matter.
There is that old saying that: "Those who know don’t talk. Those who talk don’t know," which updated to the crypto world, means that those that really don't know create and write all sorts of blog posts and cut and paste all sorts of charts, indicating when and where you should trade and highlighting where the buy points are, as if, they really know what they are talking about, when, logically, if they knew so much, wouldn't they actually just be trading hand over fist, and minting their own cryptocurrency fortunes?
Of course, there is a more cynical and sinister viewpoint of blog posts, charts, crypto insider advisers, and so forth, which is that, because cryptocurrency is unregulated, this allows particularly unscrupulous people to post things that will aid them in the pumping up or dumping of a cryptocurrency price so that these advisers can secretly trade to take advantage of price movements that they setup to exploit by essentially front running such advice to their own selfish advantage.
Still, anytime an investment is both liquid and makes significant price moves of a few percent or more on a given day, there is that dream opportunity for day traders to make money, subject to their skill set, in which the dividing line between the winners and losers of such trading will be demonstrated by the proof of their profits or lack thereof.
Cryptocurrency and day trading is not for the faint of heart, and quite frankly typically appeals to anybody that is hoping to get rich quick, whereas, in all actuality, the success of such, necessitates the gifted hand of a supreme artist, of which, many have little or no talent, while precious few are actually truly gifted virtuosos. Still, billions have been made by quantitative analysts exploiting small inefficiencies in the global financial marketplaces, which would seem to suggest in the wild west of cryptocurrencies, that there is real money to be made.