Alts ain't for hedging as far as I'm concerned. They're for gambling.
If you're looking to diversify your retirement fund you don't walk into a casino and throw everything down.
Exactly. Altcoins are pump and dump. A casino. You see the rises, +300 +500 +3000% and think wow, bitcoins is going down, civil war BU Core bad for price.
And think, I want in on that action.
You are too late, you will be scammed.
All the rises that took place happened a few days ago. You missed it. Entering now is far, far more dangerous than it was last week.
The smart money at that casino has already taken their chips off the table.
That is profits in.. what? *Drumroll* --- BITCOIN.
And that is the only reason anyone trades alts. To (hopefully) increase the number of bitcoin they have.
If you want to do this, its a good idea to get in
before the pump has started. Not when it is finished or nearly finished.
All that happens next is the price drops down on these coins. Especially the thinly traded ones.
Just a word of warning.