New Investment Strategy for Bitcoin post-forks =)
Hey guys,
Today I changed my strategy to adapt it better to the current market.
On one hand, I've been selling all my BTC in the aim to buy very cheap altcoins (only the one I trust for long term, not the hype one) couple of days ago, enjoying BTC rise while altcoins were bleeding.
I got a good bunch of coins that I saved on wallet.
On the other hand, I was daily trading my Fiat currency hold on Kraken with BTC.
Because of its great volatility, I was able to buy low, sell high couple of times and I made about 15% profit.
I'm planning to sell my current BTC on Kraken to Fiat in the next hours or tomorrow before the 25th fork of Bitcoin Gold (bullshit sorry).
I was thinking to buy BTC just after the massive dump and buy my altcoins back with it (as with my fiat currency, I will be able to have more BTC and therefore more altcoins)
But I changed my mind and I have now a new strategy that I'm sharing with you :
- I'm still going to buy BTC during the massive dump after the 25th fork
- Instead of buying into altcoins, I'm going to hold BTC until the second fork of SegWit2x mid-november.
Why ?
Because it's going to do the same as now with Bitcoin Gold. People will buy into BTC again when the SegWit2x fork will get closer.
Then of course, the altcoins market will bleed.
2 reasons that is a better move :
- you buy cheap BTC, hold it and sell it just before the mid-november fork to get your profit
- when you have your profit, you buy deep into all your favourite altcoins and you wait the post SegWit2x fork to make great profit again
I think it's a smart move, but It's just my thought. You can't predict the crypto market but you can try to be closer to what will happen.
Do your own research of course =D
Let me know what are you strategies my friend and I wish you a Happy Trading =)
Great strategy, I got burned during the last fork. Sold all my altcoins to bitcoin, thinking that the losses will be recovered when I will receive Bitcoin Cash, I just got 1/4 of my losses back.
So right now, I am still keeping my altcoins and looking to buy altcoins while it is bleeding, expecting a massive rebound after the fork.
It will need time before all altcoins will recover but they will =). Be patient my friend
Yes I agree, just be patient and HOLD for now. :)
Nice strategy bro, very well thought out. I know it's only speculation, but my question is at what point do you think will bitcoin drop in relation to the fork?
Yes it is only speculation as we can't be sure.
I think the drop will occur because people will sell their BTC and BTG in order to buy back their altcoins
Thank you for sharing. Upvoted
Always hard to know what to do. I decided to not buy bitcoins anymore as a lot of people including me believe it is a shitty crypto but buy it anyway because it goes up before fork.
One day it won't and there will be à Bitcoin bloodbath.
Have a great day !
I'm 100% with you, the Bitcoin technology is way behind the technology from others main altcoins !
I'm only doing this, to get profit and invest it in altcoins after that =)
Thank for your comment my friend, I appreciate your support =)
Have a great day too
Sir, may I ask you what alts do you trust?
I trust in many projects to be honest but mainly STEEM, BTS, EOS, NEO, OMG, LSK, WAVES, PAY, ETHER (of course), BAT, ARK etc etc =)
Thanks for sharing! I feel like a child compared to your knowledge about so many cryptos. I like STEEM and Ether too, but why didn't you mention Ripple, doesn't it seem trustful to you?
It is but a money back up by banks in a decentralised world, I don't know. I have some but not a crazy amount. And because of the supply I don't see the price of Ripple going above 1$
Will see =)
Interesting to know your thoughts on trading the forks. I'm into the alts but hold some bitcoin for the long haul. I tend to agree with your thinking on the BTC price movements. I hope your trades go well!
Upvoted:Following
Thank for your comment Mike ! We'll see what's going on but I think you are definitely right to hold your alts now =)
I always feel like stuff like this is too good to be true and ignore it and am too often wrong :( the world of crypto hahaha
Lol it is not too good. It's hard to point the right time of when to buy or when to sell. This post is just to tell the guide line. Then will see what's going on =)
I might be wrong, but if I'm wrong, it would help me improve myself. So all in all, it's a benefice for me =)
Did you ever watch a herd of hundreds or thousands of little birds flying in waves? It is captivating how they do it almost instantly they change directions and elevation like they are in a sacred dance. That is who trades behave in crybtocurency market. If you get out the flock you might end up making money.
I like the metaphor =)
Thanks for the support. Will see how it is to be the black duck =D
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