As Bitcoin Approaches a Parabolic Move I Have Decided to Move to Altcoins.
The Bitcoin Price Throughout its History.
$0 - $1000: 1789 days
$1000 - $2000: 1271 days
$2000 - $3000: 23 days
$3000 - $4000: 62 days
$4000 - $5000: 61 days
$5000 - $6000: 8 days
$6000 - $7000: 13 days
$7000 - $8000: 14 days
$8000 - $9000: 9 days
The Rise of Bitcoin is Too Fast for Me.
Like I have done many times before, I have taken my profits off of the Bitcoin table and moved to altcoins. I don't believe this rise can sustain this pace. If I am wrong my altcoins will still do well in USD terms but if Bitcoin has a nice pullback or begins to trade sideways my wallets will be prepared for an influx of new money into the altcoin market.
I have also taken a chunk of Ethereum and bought into a few ICO's. I will be writing a post soon letting you know which ones I like.
I am Not Shorting Bitcoin.
In the past I would have opened a short position but I believe that is too risky at this point. I don't have time to sit in front of the computer. This market is way to excited to risk a short position in my opinion.
Source
These are Exciting Times in Crypto.
When the whole community is excited and talking about new all time highs I always choose to take a defensive position.
Here are a Few Altcoins I Own.
- Ethereum
- Steem
- Smartcash
- Neblio
- Flashcoin
- Everex
- Hedge Token
- Decent Bet
- Omisego
This is Not Investment Advice, Just My Personal Trades.
BTC is leading the way as always.
thanks for sharing your picks.
do you think any of altcoins will reach BTC status?
Take losses but let profits go, easy sound investment wisdom :-)
Randy @hilarski I like your thinking and I think that there will be some good percentage moves in some of the Alts that you will be moving into....
I hope so and if not at least the alts should sustain in USD terms.
There are also some people who just learned about bitcoin. News spread like wildfire and you're all right saying that bitcoin is overbought. The only question is how long it will be sustainable.
Excellent decision @hilarski, well it's good time to move into alts because the bitcoin looks to me overbought and you are right shortening the position in this time is also risky, i like the alts in which you are interesting, thanks for sharing very nice thoughts with us, Stay awesome
When I saw today bitcoin cross 9000 its behind my hope, I'm too happy to see this. All crypto market just surprised me within few days love it.. ...
bitcoin, investment profitable now, now 1btc = 9057$ , bitcoin going to very high
I think you're doing a mistake :)
I took a small profit of 5% and bought some ETH. I'm still 45% in Bitcoin. The upside is still incredibly big IMO. $10,000 will be looked back at as ridiciolously low prices. I wish you not well! (Since I'm on the opposite side of the table) :)
Hope you come back to your senses and join us soon.
i agree with you points now is the time to move to other cryptos from bitcoin because might be bitcoin start falling now just like rock.
Not sure if it is to fast, simple supply and demand and demand is increasing while very few people are selling their coins. The next halving for bitcoin wont happen till early 2020 down to 6.25 coins per block further increasing the supply and demand issue. This is why I love that there will only be 21 million however most likely about a million have been lost in a black hole.
You may be right but my spidey senses are telling me to be cautious.
It's never a bad idea to take profits, sometimes its a good idea to get out too soon than to stick around a little too long and not able to get out. Bitcoin is and probably always will be number one, but I just don't see how its possible for it to sustain this momentum right now. Cheers to profits