There is some confusion when it comes to BTC Market or USDT Market and sometimes it is difficult to decide to take profit in which currency, BTC or USDT.
I give you an example here and hope anyone can explain in detail.
ETH was 0.035 BTC few months ago and it was around 400$ USD. I did not took the profit and did not sell Eth.
Today, ETH is 0.028 BTC but in USD it is around 540$. (buz BTC price is high)
Now if i had sold it earlier at 0.035 BTC, so today's its worth would have been 660$.
So what's is the best approach in this case to get the maximum profit ?
I give you an example here and hope anyone can explain in detail.
ETH was 0.035 BTC few months ago and it was around 400$ USD. I did not took the profit and did not sell Eth.
Today, ETH is 0.028 BTC but in USD it is around 540$. (buz BTC price is high)
Now if i had sold it earlier at 0.035 BTC, so today's its worth would have been 660$.
So what's is the best approach in this case to get the maximum profit ?
IMO it depends if you are "cashing in" and plan on selling it and taking the fiat currency to use to pay bills etc. If this was the case I would sell it based on the USDT price and then convert to fiat to do so.
If not, I would be using the BTC price, as I will be wanting BTC profit that I can then either bank, or use on my next altcoin venture.
There is more than one way you can bank your profit, which is why i love the space
