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RE: It's carnage out there in crypto land! What's going on?
I agree that it's a buying opportunity if you have USD sitting around. Problem is most people diversify within crypto. When everything dips then how can you buy more?
Im sitting with the same problem man, but what is going on with bitcoin plus though?
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I came across this issue last minor dip. I use bitShares to do some of my trading for the coins that I can trade on it. It has a really nice USD derivative similar to USD Tether (USDT) called bitUSD. I realized next time my portfolio went up too fast too quick, and I put converted some of my crypto holdings into bitUSD which stays at 1 USD in value when converted to bitShares (BTS). Then when the markets dipped again, I could instantly convert my bitUSD to BTC or BTS and convert to other altcoins from there. Also, the bitShares exchange is really nice because it eliminates a lot of the trust issues users have with exchanges as it's a decentralized exchange and the fees per trade is a really cheap flat fee:
Check it out if you're looking for a stable store of value when the crypto markets are especially volatile. BitShares also offers other derivatives such as bitCNY, bitEUR, bitGOLD and bitSILVER which can be very helpful in diversifying and keeping value. Happy trading!
By not having your whole net into crypto ? It's rule #1
Don't have it all in crypto by any means. But what I have allocated to crypto is in crypto. Not going to sell stocks or real estate to buy more crypto. Just saying that since majority of crypto is down, there are limited options.
It is unfortunate . I wouldn't sell. I would never go with the flow of such an uneducated market, but against it . They sell you buy , they buy u sell .
Bang on. Diversification across ALL asset classes is key. Furthermore, keeping liquid cash back will ensure you can take maximum advangate of uncertain times.
True....keeping liquid cash on hand is the tough part when crypto, real estate, and stocks are all going up! Need more discipline I suppose.
Spot on! It's summer, time to spend some time away from the keyboard and catch up some with some vitamin D replenishment. Still p***ed at poloniex for tying up my STEEM though.