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RE: VERGE (XVG) Update: Higher Highes Very Likely!
Now xvg is 616 satoshi and 6.2 cents. BTC price is 10,248
if BTC price moves up to 13,800, XVG at same 616 satoshi will be 8.5 cents.
The important thing is the relative movement of the altcoin to bitcoin, i.e xvg/btc pair analysis.
Thanks anyway.
I learned EW from your tutorials. I am not convinced yet though, but trying to apply and follow up to see how correctly these waves can represent futuristic price meovement.
hmm... "The important thing is the relative movement of the altcoin to bitcoin, i.e xvg/btc pair analysis." Consider this other perspective: If you were to get your salary paid in btc and you paid for all your goods and services in btc (and those had a stable price), or if you are never going to sell your btc because you feel that in the future it will happen, then I guess you might think that btc pair is more important than fiat pair.
I have been using btc pair for analysis for months but I now understand (thanks to the recent BTC correction) that this is not the right way to look at it and only makes my gain and loss 100% dependent on the BTC highs and lows.
If one analyses a trade against fiat then their gain and losses are effective.
One still uses btc to buy and sell but if you decide to not hold more than a given % of your portfolio in btc and keep another % of cash on the exchange to enter new trades when opportunity arises, then you are surely taking less risk. This is at least the way I am looking at it now and I am still to implement it when I will be ready to see the coins I am holding...
I understand your point of view, and how is that helpfull for short term traders aiming at fiat profits.
But it is not consistent with the slogan [ Opt out of fiat & Opt into cryptos ] .
Anyway thanks a lot for the information you give in your blog.