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RE: Bitcoin (BTC) Mid-Day Update: Precision HIT!!
@haejin
If 90% of my investment is in alt coins.. when btc reaches 20k the btc ratio will massively be reduced..... should i sell all my alt coins and keep only btc???? In the dip of 13k shown above?????
Just wait and hodl, if BTC goes up now, alts will naturally go down until BTC reaches a sustained uptrend, then they will go up if they should. Explanation is buyer/seller are all on main coins, then when the uptrend is on, some buyers will go to alts just because they hodl BTC and they want to diversifie.
If BTC goes down again (correction not done) alt will go up, if you're happy with profit, take it, or wait for more after BTC goes in uptrend (take more time of course).
Anyway you can sell altcoins for some USD equivalent on a lot of exchanges, problem is if BTC goes up you'll get less of it because BTC/USD goes up.
Better is wait and see, if btc down => sell alt if profit ok or wait for btc uptrend and in phase with alt, else if btc up wait for alt and btc to be in phase and take profit when ok.
At least that's what I'm doing. If alts are well selected, they should go up, maybe it will take some weeks but they will go up.
What are your Alts?
@luchi505, I was concerned about this myself until I was directed to @haejin. Don't be scared and sell it off, but try to chart your coins, and line up the waves for yourself. That way every loss on paper is also a gain in confidence. Repeat Haejin's tutorials and embraze all new knowledge before selling any of your precious coins :)
One should always diversify to lower the risks.
I have the same question.I am sure many other do as well @haejin
I'm going to advise something similar to what haejin mentioned in a post before. It's nice to have about 20% in btc, 5 or 10% each in ltc, and eth, and with the rest you can buy other coins including smaller caps.
Thanks all.. actually my portfolio is only @haejin suggestions.... NXT, XVG, ANT, EXP, 0X, EVX, CVC, LTC, XRP, and RDD. So its hard which alt to leave to keep BTC
What I did, is I speculated the highest percentage on BTS, as I truly believe it could be massive.
I then have small positions in a few altcoins.
No BTC whatsoever though. Maybe I should reconsider, but I can't keep myself from the thought that the first technologies aren't always the most sucessful ones.
That's a self decision I can't make for you.
But @haejin You said alts will go up with btc. Right now alts are bleeding
I also hope that both of BTC and alts go up together.
(So the main reason BTC goes up is money from the outside of crypto market.)
It does not matter. The BTC/Alt Ratio is nothing more than an indication. Imagine for one second: would you rather have an altcoin worth 1000 satoshis when BTC itself is worth $10000, or an altcoin worth 750 satoshis when BTC is worth $20000?
Do the math. At the end of the day, you're winning at the USD/Alt ratio. That's all that counts for now, right?!
So everything's well that ends well.
not so accurate. if you sell the alts in the satoshi peak you can buy them later again (when BTC price increasing) and enjoy some profit too.
Agreed. When calculating the BTC-equivalent, I lost some BTC today -- but, when calculating the $-equivalent, I gained some $ today.
Hi Haejin, any chance of latest for Siacoin. Appears to be ready to surge out of a very nice cup & bowl IMO? Also longer thoughts on it would be greatly and gratefully appreciated.