RE: [ Investment Strategies ] Is anyone shorting any ALTCOINS?
Hello,
I think it can be a little risky to short now because we are maybe near the bottom.
It's a hard time for making a good decisions, there are many fears who's going to come next week and bitcoin may fall before the fork and drag altcoins with him in this downfall.
But if everything goes right, just after the fork, price will skyrocket and altcoin will pump too.
If i had some bucks to invest now, i will wait until 20/25 july to make a move, check bitcoin health and take a decision.
Anyway, i think it's a good time to invest only in solid project (waves, stratis, steem, golem ...) and avoid the high speculative coin.
And if you did enter into in June, you have surely lost money. The only strategy here is forget about it and come back in few months.
Best of luck everyone.
Great insight. I'm not sure if the fork will go well or not... If it does then you're right. Riding this bell curve up and then back down could be very profitable.
I've just noticed that there is this repeating bell curve (pump and dump) with ICOs, and I believe it will be more profitable betting on them losing then them winning.
Anyone (including you) have any exchanges you recommend for shorts? I'm currently lending on poloniex, but I keep hearing bad things about them.
I'm not on poloniex so it's hard to give an opinion about them. I'm on Bittrex and Kraken, bittrex is a great platform but is kind of a trap because there are so many altcoin, you can do easy mistakes if your not an experienced daytrader.
On kraken, there are less coin and almost all of them are solid project, it may be harder to lose in the long run.
Finally, i don't think we can trust chart in this very moment, we are in an uncharted territory and in the short term, i don't want to be optimistic and misguide people. The fork could cause a serious shitstorm if things go bad and a giant pump if all goes right.
Everyone who want to invest in July have to choose a belief to make a decision.
I wish there was an exchange that offered options..