Hello,
I am here for 4 months already and have seen a lot already. What bothers me all the time is the relationship BTC versus Altcoins. I don't understand why the whole market is being driven by BTC value. When BTC drops 50% all other altcoins also losing their value in USD for 50%. If i am mistaken please correct me. I think all altcoins should keep their stable value in USD no matter if BTC goes up or down. This is very strange to me.
I just want to ask you guys what is your exit strategy from altcoins when BTC corrects in the future for example 50-75%.
I want to invest in some altcoins now for long term. If i make 100% gains on altcoins and BTC correct -50% i am actually on zero profits and i think it may happen in near future since BTC has more and more competition.
So far i noticed everything is losing their value when BTC is going down so in the scenario when BTC = 0 all other altcoins = 0. This is stupid.
So what is your exit strategy from altcoins if BTC for some reson goes to 0 and everything is paired with BTC?
I now there is pairs with USDT also on Bittrex. Is this another option to exit from altcoins if BTC goes really down?
I never used USDT before
I am here for 4 months already and have seen a lot already. What bothers me all the time is the relationship BTC versus Altcoins. I don't understand why the whole market is being driven by BTC value. When BTC drops 50% all other altcoins also losing their value in USD for 50%. If i am mistaken please correct me. I think all altcoins should keep their stable value in USD no matter if BTC goes up or down. This is very strange to me.
I just want to ask you guys what is your exit strategy from altcoins when BTC corrects in the future for example 50-75%.
I want to invest in some altcoins now for long term. If i make 100% gains on altcoins and BTC correct -50% i am actually on zero profits and i think it may happen in near future since BTC has more and more competition.
So far i noticed everything is losing their value when BTC is going down so in the scenario when BTC = 0 all other altcoins = 0. This is stupid.
So what is your exit strategy from altcoins if BTC for some reson goes to 0 and everything is paired with BTC?
I now there is pairs with USDT also on Bittrex. Is this another option to exit from altcoins if BTC goes really down?
I never used USDT before
Well think of it this way. Bitcoin is the original cryptocurrency and it currently has the highest market cap out of any other coin on the market. When bitcoin drops, people see that the strongest, largest valued coin is dropping and think that the altcoin that they invested in will go down too because the "mighty" coin is going down. So, they fall into FUD and sell sell sell.
My exit strategy is technically already in place. I try to limit myself on how much bitcoin I'm keeping and how much fiat I keep. if I overflow on one or the other, I put into altcoins. I have enough in bitcoin such that if it goes up like crazy, then I'd enjoy the profits, but I also have enough earnings overall off of bitcoin such that I'd be fine if Bitcoin goes to zero because I end up in the positive zone based on my initial investment. People should try to trade safe and hold for a while until Bitcoin is technologically beat by an altcoin.