Now its a good time to buy altcoins
Seeing at my coins' portfolio, I can see a lot of red. And almost every coin's price relative to Bitcoin has fallen in the last 24 hours. The image below is taken from the output of my crypto portfolio program, which you can find at https://github.com/HamidMushtaq/steemtools/tree/master/coinsworth_html. I have whitened out the amount and worth of my coins due to privacy reasons.
So, what does this decrease in altcoins' price mean? Well it obviously means that now is the best time to buy them, because from my experience, their prices will go back to green relative to Bitcoin, when things stabilize.
At this moment there is too much unnecessary FUD. First it was the misinterpretation of what the India's finance minister said about Bitcoin, and now there is FUD due to some banks banning purchasing cryptocurrencies through their credit cards. However, banning credit card purchases, does not mean that you cannot buy cryptos at all. Hopefully, these FUDs would subside soon, and everything would be back to normal.
We must remember that the market is irrational does not follow logical rules, if not, the expectations and fears of its holders
For me it's like a spring sale all at 2 x 1, for me it's like a big nervous investor purge that at any moment will have to stop.
While we can not invest more we will be in hodling and those who can protect your investments in alticos as you say, which is a smart move and you can see that many are doing it as some cryptos move
In any case, the market will tend to correct itself and will do so at any time
It is a great opportunity to Invest.
Yes but dont invest fiat yet. However convert some of your Bitcoin to Altcoins.
Yes, its good time of investment in cryptos. Thanks for sharing informative post.
I have some bitcoins. it is really good time I am also thinking to convert them into altcoins. thanks for updating bro @hmushtaq
People are rather smart and they all be waiting for the low low price of near nothing to start buying again, that's when all the markets will start to recover, until then, buying alt coins to preserve your bitcoins value it is a good advice, as the only thing on the horizon is but more and more fud. I hope the downwards trend to end soon... :/
You are right. Investing fiat in crypto is risky at the moment. Yesterday I bought a few ether thinking the dip has reached but it hasnt. I will wait now to buy any further.
This is really a timely info.... Thanks
I am still holding my bitcoin tight once the bitcoin stabilizes I am jump into alts. yeah you are right lot of unnecessary FUD in the market.
Sneaky Ninja Attack! You have been defended with a 1.43% vote... I was summoned by @hmushtaq! I have done their bidding and now I will vanish...Whoosh