Hello,
I need your advise please.
After the announcement i have bought EMC2 @ 340 and then couldn't sell at 360.
Now i have given a sell order @ 300 but it keeps falling.
What should i do?
If i wait will EMC2 reach 360 anytime soon?
There is always risk in investing.
in most cases, alt-coins like emc2 value are based on dolar per coin.
We buy them with bitcoin, wich has its own dolar value.
So if BTC value rises and the value of the other coin stays the same in dolars, it will be worth less BTC. Then it looks like the coin lost its value, while in fact the coin is still worth the same amount of dolars.
Last week the oposit hapend, BTC value dropped. So if the value of the altcoin in dolars stays the same, it will be worth more BTC.
In case of EMC2 there are a lot of good developments wich make the coin more interesting for using, wich will drive up the price in dollars. and being worth more dolars means being worth more BTC...
But keep in mind that if BTC value rises again, a lot of altcoins will drop in btc value again.