Ok, Im new to cryptocurrencies and markets in general. Ive invested in a few different alt coins and have got what may be a really stupid question and hope someone could clear it up for me.
Say youve invested $500 in bitcoin at the latest rate, and purchased an altcoin at a price which is very appealing. What happens if (over time obviously) Bitcoin deflates massively but the altcoin value rockets? How could you get what is effectively a handsome profit to a fiat currency without losing?
Thank in advance!
If the price of bitcoin will not go down deeply you can still earn if the coin you have bought go skyrocket so hard but if that pump is so little then I can stay that you cannot say that you've earned since mostly the basis on exchange right now is the value of the btc. IF btc value decreased all altcoin value will decreased to.
yes indeed if bitcoin goes down but altcoin rises may be an opportunity to buy altcoin,
because it is very profitable