Re: Do not trade Alts with BTC these days, You will just lose
Do not trade Alts with BTC these days, You will just lose
I do not recommend to trade alts with btc these days otherwise you will be just loosing your money. As BTC hitting its ATH, the prices of alts are dumping even if it is BNB or any other coin whichever was stable in the last months. Just trade BTC/USD only.
I do not recommend to trade alts with btc these days otherwise you will be just loosing your money. As BTC hitting its ATH, the prices of alts are dumping even if it is BNB or any other coin whichever was stable in the last months. Just trade BTC/USD only.
Generally, bitcoin is always stronger then altcoins. Please get more details in Bitcoin pumps/ dumps and altcoin price actions (2013 - 2020). A note for you is pump or dump in that analysis is for a threshold of -5% (decrease) or +5% (increase) of bitcoin price.
With current price of altcoins in their trading pairs with BTC, it is good to make your entry and hold them for a while.
Some top altcoins
Some stable coins
FINDINGS
- In 2020, so far, there are 14 pumps and 11 dumps (based on above definitions) from bitcoin
- Bitcoin does perform stronger than altcoins.
- When bitcoin pumps, altcoins increase less than bitcoin. (look at p50)
- When bitcoin dumps, altcoins fell deeper than bitcoin. (look at p50)
- Stable coins have same directions with bitcoin (bitcoin rises, stable coins increases and vice versa)