WHEN BTC IS DOWN EVERYTHING IS DOWN
As of right now Bitcoin is down $2500 usd and Ethereum is down below $300usd
But we all know the market is very volatile and could bounce back up $100-$200 usd in 24hours
Thougysome will be cashing out stopping losses now is a perfect opportunity to buy
FOLLOW - @tuakanamorgan
There are frequent discussions related to the volatility of crypto and why it seems to be tied to the BTC.
BTC is the original cryptocurrency it's the standard on which other cryptocoins are based, so in an unfamiliar market cash and run investors will use it as an indicator.
What's interesting about that is "cash and run". This type of investor buys into blockchain for profit, and only for profit. By being a market maker or following the market makers they are able to buy in cycles (this is actually what drives the peaks and valleys).
Market makers rely on smaller investors to "sell" when there is a valley and "buy" when values seem to be climbing, because they are doing exactly the opposite to make their quick turnovers.
Unfortunately, few cryptocoins are based in anything other than market value. The Bitcoin doesn't really bring anything to the table that hasn't been replicated cheaper by a myriad of alt-coins. Because of this, the value of Bitcoin is likely to gradually level out with the price of other market based altcoins.
There are two alts, that I know of, presenting value outside of the market value. Ethereum, which is offering a dapp platform for smart contracts, and Steem, which is providing an engagement community and dapp opportunity for users. Both of these models are significantly more stable than the market approach and act more like an investment where Bitcoin acts more like a FIAT currency.
That said, if you're a wave rider or market maker, BUY UP! you're at a pretty good point in the roller coaster. If you're looking for a growth investment, do some research on ETH, ETC, and STEEM ... they have pretty awesome potential.
That's for sharing your insight, you have a wealth of knowledge and I have to agree with you.
It's a great time to make a buck, if I had more time to invest then I'd do just that
Thanks 🙏🏾
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Cool! I hope that you know USDT and USD are totally different. BTC is still USD 2564 at the moment. USDT is just another coin.
USD is the US dollar and USDT is a cryptocurrency that is issued by Tether Limited , and is backed by One Dollar held in the company’s reserves.
Oh no I never realised that's thank you for making that clear
That's a pretty interesting model "tethering" a cryptocurrency to a familiar FIAT. I wonder how this is affected by the current political climate in the US.
Its not affected by the political climate as USDT is built to be equivalent to the US Dollar, but the price of USDT fluctuates between USD 0.93 to USD 1.07 due to the transaction fees involved. USDT does exchange trades from a Taiwanese bank. The current USDT price is USD 1.03.
Its absolutely safe to trade using USDT as when you cash out, it will still be equivalent to USD most of the times.
Luckily I hold some NXT, and atleast that is doing well today 😎
Yeah NXT is in the green