What I've Learned Trading Alt Coins: When Bitcoin & Ethereum Are Climbing

in #bitcoin5 years ago

Obviously I could make a long list of things learned, but I just want to talk about yesterday's dynamic of rising bitcoin and ethereum prices in USD.

While I made a few small trades, it wasn't until bitcoin and ethereum stop climbing that I really made some reasonable entries. So going forward, days where bitcoin and ethereum are making climbs, I'm gonna sit back. Now if you're able to calculate your USD entry, falling Altcoin-BTC ratios might retain your initial USD investment.

So here are the two things to take away from this: 1) Buying for accumulation and holding purposes is best during the bitcoin/ethereum gains, relative to USD and 2) trading alts gets good once the bitcoin/ethereum prices stabilizes and alts catch up.

CdE8AGvW0AAytbo.jpg

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This is though especially when you have some altcoins which are going steady and then you see them devaluating against bitcoin. First impression is then to sell. I'm starting to get over those impressions but it can be though to keep cool sometimes...

I agree. I bought a ton of STEEM at 2.60 USD. then the climb....Now HODLing. Its tough to watch though :/

Yeah, basically the only ones I want to hold through the devaluation against bitcoin are the long-term plays. It's definitely tough not to get shook out. This morning looks great though with the alt rebound.

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