Post
Topic
Board Speculation
Re: What if bitcoin crash, could you put your money in another currency to be safe?
by
eternalgloom
on 08/03/2017, 15:56:52 UTC
For example, if bitcoin is going to crash and I exchanged it into $1200 Ethereum lets say. And it goes down to $800 USD, will the Ethereum value go down?

Could you exchange your bitcoin into another currency to be protected from a crash?
I think Coins like Doge, LTC , USDCOIN all of these are 99.9% stable always in the same price, 0.01% prob that you are very very very unlucky and it drop when you buy but I don't think it will happen.

What do you think ?

If the bitcoin will crash you will not know. It's nice if you already convert it to other altcoin before the crash. And I know if the bitcoins dump, the altcoins pump. So if you convert it to altcoin, your money will not crash and there's a chance that your altcoin price will pump.
Uhm, yes you will know when Bitcoin crashes. You'd probably have a few hours or days to still sell your Bitcoin at a reasonable price.
I'm of the opinion that you can better sell for fiat than other altcoins. A Bitcoin crash would likely also affect the prices of Altcoins as general panic sets in.