PLEASE Consider - IF You Think That Someday Soon Bitcoin Could Suddenly Spike To 25,000 - Then "BUY" Prices On ETH And All Alt Coins Might Immediately Decrease By Similar Amount = Picking UP ETH For 0.012 BTC Is Not Absurd
Yesterday's crash of ETHEREUM price to 10 cents on GDEX should highlight the thinness of the market and the equal need to expect the unexpected in CryptoCurrencies. My congratulations to those with the foresight to park some bitcoin purchase orders for Ethereum at 200.00, 100.00, 50.00, and yes at 1.00 and 10 cents. All of us could have done the exact same thing...it's why I just set a buy order on Poloniex for ETH at .012 btc and for .00070000btc - expect the unexpected.
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I could not agree with you more. We might as well do what we can to come out ahead when that happens again. Because it will.
You got me thinking now . . . about this haha
Thanks...it should be at least 2% of someones portfolio to prepare for something like this - a 2% that wouldn't be missed in the long run. I trade with a bitcoin at Polo and put .01 in each of the buy levels I stated above.
Awesome advice, and definitely worth a shot.
My only concern with this would be having to hold Bitcoin on the exchange long term in order to facilitate it, a problem that could be avoided by ensuring it is a nominal amount, however, should the buy order ever go through there will be the inevitable disappointment that it wasn't more. :-)
thanks...it was a thought worth expressing to more than a couple facebook buds via messenger.
I agree.. Also, for those unaware of the eth drop on GDAX, here is a brief article on it from FinanceMagnates.
thanks for doing that...I meant to post a link to the event.