What a Great Altcoin Run It Has Been. The Rubberband Effect in Action.
King Bitcoin Gave The Altcoins a Chance to Recover Over the Last Two Weeks.
I wrote a post entitled, "The Bitcoin and Crypto Currency Rubberband Effect" five months ago. I said, "Altcoin fever sets in when Bitcoin volatility gets boring." Well this is what has happened over the last 10 days.
Randy is the Altcoin Run Coming to an End?
I don't know and it is likely going to continue for a little while longer. No one has a crystal ball in Crypto. Hell, I sold my BTC to altcoins back when Bitcoin hit $9k because I thought $10k would be the top. Yesterday I broke even in BTC terms. If I would have sold at $18k I would be up huuuuuge!
What I am Doing With My Altcoins and Bitcoin Now.
As you saw in my post, "Bitcoin - You Are Here." I have recently converted to the HODL system of crypto investing. Over the last 10 days many of my altcoin investments are up 50-200%. So, what I have done is take out my profits and keep the profits in Bitcoin. What remains is the altcoins that remain after the profit taking. I literally own those at zero cost. Now, if Bitcoin moons again I will benefit and I won't mind if my altcoins lose against Bitcoin until the next time the pendulum swings back to altcoins.
Never Forget That the Pendulum Always Swings Between Bitcoin and the Altcoins.
I believe this is best strategy. To hold Bitcoin and some altcoins as well. Almost everything is going up and this trend will probably continue in 2018. For example I traded Litecoin, bought at 33 and sold around 60:). Now it is around 300. But there is going to be a time when we might need to sell at some point. Just my 2 cent opinion.
Diversification always pays. Just wondering though that this short term weakness in alts is set to continue from today's weak price action. More longer term i totally agree. I was writing about this in my posr today, although its in italian. Italian community is growing and we are working hard for it. Thanks
I am always taking profits.
Get used to this intervention is considered an excellent strategy
@hilarski
Have you seen what is now falling into bitcoin I see it may reach as high as $ 12,000 has been shaved to the destination you talked about yesterday that is $ 50,000 in 2018 What do you think you are in this
I don't think it will return to that value but anything is possible if it breaks to the downside.
We wish the best, but be careful
And not much greed
I was dazzled bro ❤
Where have you seen bitcoin for less than 11 000$? On coinmarketcap I seet deepest point is 15 590$
Yes, I bought at $450. ; )
You are boasting that you bought this months ago.
Wow this is very valuable post and useful.
Thanks @hilarski
Have a nice day
Awesome gif :)
I checked tomorrow BTC was running around 19K now you're telling that it is on 18k. it drops 1k in just one day?? :o
it is now at 15k$....but bitcoin is the king...it comes with full force back again....it will show his dominance shorly....evrything is red now by the way ...at coinmarketcap....
Giving heart Attack to the investors :D
Part of the game.
very helpful post friend @hilarski.. i love your thoughts.
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happy christmas day...upvoted
i m some confused about altcoin totall supply what is th digit fo totall supply bcz i want to buy some worth btc and i agree the pendulm of btc hilarski
is there are some connection between btc and altcoins price updown @hilarski sir and today btc around 17k and all experts says it will not go more up in these days to see the charts
@hilarski - Sir you got a nice strategy... 'Over the last 10 days many of my altcoin investments are up 50-200%'
Now you are dealing with ALT from your profit.... A very good idea Sir... Nice you decided to share it Sir...
+W+ [UpVoted & ReSteemed]
. good topic. i like your post and following.
"The Bitcoin and Crypto Currency Rubberband Effect" - Woah...nice topic indeed. You got correct decision ontime BTC sold out $18k. Good one. Alt coins may be good opportunity to let.
Yah this is something we should try not to forget.
The correction bitcoin is having now is healthy right? @hilarski