Despite what most are saying that now is a bad time to sell alts, i beg to differ.
Why? Because look at the short term speculation first, bitcoin will pump before the hard fork. This has been happening and is proven by history in the previous two forks. Bitcoin will rise because many people will buy bitcoin expecting free dividends. That being said, now until some time before November 16 is a good time to sell alts, then on November 16 buy back again.
Topic: All of my friends have finally dumped all of their alts - page 2. (Read 1291 times)
you friends will kill you soon 
just kidding but that's a really bad decision as btc will stop rising eventually and then a huge pump for altcoins
just kidding but that's a really bad decision as btc will stop rising eventually and then a huge pump for altcoins
I guess we'll see interesting things happening after the fork...
I have been telling my (online, because I don't know anyone in real life that even knows what bitcoin is) friends to get rid of their altcoins,
I think that is the reason why you do not have much friends in real life. You probably advice them to do wrong. Always sell on high and buy low.
If Bitcoin will goes even higher it will burst and will hurt all cryptomarket in general. No one is ready to Bitcoin cost so much. Even the Bitcoin maximalist. I think it will goes back to 4500- 5500 $ atleast.
3 transaction per second, old infrastructure, outdated technology. More than 7000$
Altcoins is the future.
They should have dumped them in june, when they were at the top, not now that they have tanked all the way down to what is likely to be the bottom. When you have lost 70%-90%+ of your money because of the price tanking, what's the point of trying to save 10-30% of your investment, compromising the chance to get it all back in the next cycle of the market?
I think it's the wrong decision, because I think the altcoin downstairs is not just a few, but almost all altcoin down to deep red, and hopefully this is only temporary, after this people will sell the bitcoin again and buy altcoin again, unless your friend really is in need of money, then it does not matter if it sells altcoin now
I have alts in my wallet , but i will not dump them . I will still hold my alts even if its not going to pump by this year. I believe that alts will go pumping by next year 2018. Hope your friends never regrets for what they do to their alts in the end.
I do not consider it a good idea to drop all my violas now and translate them into bitcoins. Altcoins will still show their potential, and bitcoin will not always grow by 800 percent a year. Of course, in order to have a good profit in violas, you need to understand them well, to know which one is used and for what purpose it was created.
This time Altcoin price was too low and could hardly lower as GCR for example, so selling at this point is not appropriate. BTC will grow, maybe next time there is a sharp drop is due to the shark's move to sell goods but then will increase again. When stable Altcoin BTC will boom strongly.
I have been telling my (online, because I don't know anyone in real life that even knows what bitcoin is) friends to get rid of their altcoins, because sooner or later there would be a massive bull run to bitcoin that would last months. They never believed in what I had to say. "Bitcoin maximalist" they would accuse me off.
Recently, they finally dumped their alts, which they were holding in hopes of a pump to make more bitcoin with, and simply held BTC. They have dodged the massive alt crash that has brought up BTC back above %50 of the crypto marketcap dominance.
Im not saying all altcoins are shit, but most are. It seems finally reality is kicking in amongst noobs that thought they could get easily rich with altcoins, and they are finally going back to BTC.
Recently, they finally dumped their alts, which they were holding in hopes of a pump to make more bitcoin with, and simply held BTC. They have dodged the massive alt crash that has brought up BTC back above %50 of the crypto marketcap dominance.
Im not saying all altcoins are shit, but most are. It seems finally reality is kicking in amongst noobs that thought they could get easily rich with altcoins, and they are finally going back to BTC.
Holding only Bitcoin is the most easiest way to make profit because of the price jump recently. But it's also stressful, because volatility is biiiiig. Now it's good to hold on, but remember what was just 2-3 months ago
It you have time and courage, to read and trade with alts, profits are bigger and the risk is smaller. However, you are right - there are a lot sh*tcoins around.
I have been telling my (online, because I don't know anyone in real life that even knows what bitcoin is) friends to get rid of their altcoins, because sooner or later there would be a massive bull run to bitcoin that would last months. They never believed in what I had to say. "Bitcoin maximalist" they would accuse me off.
Recently, they finally dumped their alts, which they were holding in hopes of a pump to make more bitcoin with, and simply held BTC. They have dodged the massive alt crash that has brought up BTC back above %50 of the crypto marketcap dominance.
Im not saying all altcoins are shit, but most are. It seems finally reality is kicking in amongst noobs that thought they could get easily rich with altcoins, and they are finally going back to BTC.
Recently, they finally dumped their alts, which they were holding in hopes of a pump to make more bitcoin with, and simply held BTC. They have dodged the massive alt crash that has brought up BTC back above %50 of the crypto marketcap dominance.
Im not saying all altcoins are shit, but most are. It seems finally reality is kicking in amongst noobs that thought they could get easily rich with altcoins, and they are finally going back to BTC.
Your friends have definitely made the right decision at the right time.
However, this will not always be the case. Alts ar a lot more volatile than bitcoin is which means that there are a lot of opportunities and cases where alts will outpace bitcoin growth, especially after such a bearish season to start the month with.
Right now would be a perfect time to stock up with alts, in my opinion.
The thing with altcoins is that nobody really care about them. The majority of people just want to earn more bitcoin by investing in altcoins hoping for a better return. So as long as they are invested into an altcoin they will praise it to heave' and back in hopes for a moon landing somewhere in the near future. Only to dump their alt for more bitcoin.
To opposite happens when the altcoin crashes down and everybody is losing money. In the hat case the altcoin is dead and always has been dead or it's a scam, pump and dump etc. (a good example is siacoin).
So in reality nobody truly cares about altcoins most of them just want to make more BTC or $. And if they say it's not true they're most likely lying.
To opposite happens when the altcoin crashes down and everybody is losing money. In the hat case the altcoin is dead and always has been dead or it's a scam, pump and dump etc. (a good example is siacoin).
So in reality nobody truly cares about altcoins most of them just want to make more BTC or $. And if they say it's not true they're most likely lying.
Do you really think no one cares about Ethereum? Or Litecoin? Or Dash and Monero and ZCash?
And if you follow Siacoin development at all you would know the last thing the devs want is a pump and dump coin and they are definitely not scamming. They actually don't want to market it yet because they want to develop the technology. There was a lot of complaining when one of the developers said they didn't want Siacoin to pump when a bunch of other coins where getting pumped (and subsequently crashed). Yes they did become overvalued for the stage of development they were at due and there was a natural price decline. And no Siacoin is NOT dead and is being actively developed by a great team.
The thing with altcoins is that nobody really care about them. The majority of people just want to earn more bitcoin by investing in altcoins hoping for a better return. So as long as they are invested into an altcoin they will praise it to heave' and back in hopes for a moon landing somewhere in the near future. Only to dump their alt for more bitcoin.
To opposite happens when the altcoin crashes down and everybody is losing money. In the hat case the altcoin is dead and always has been dead or it's a scam, pump and dump etc. (a good example is siacoin).
So in reality nobody truly cares about altcoins most of them just want to make more BTC or $. And if they say it's not true they're most likely lying.
To opposite happens when the altcoin crashes down and everybody is losing money. In the hat case the altcoin is dead and always has been dead or it's a scam, pump and dump etc. (a good example is siacoin).
So in reality nobody truly cares about altcoins most of them just want to make more BTC or $. And if they say it's not true they're most likely lying.
Now is the worst time to sell altcoins because all of them are in red. I udenstand that people are selling them because of the fork. I personally wouldn't sell them when the price is low. I think that after the fork, prices of altcoins will start to raise. There are good altcoins out there and I think that they have a future, together with the bitcoin. Of course Bitcoin is a King of cryptocurrencies and it is wise to hold at least 50 % of portfolio in BtC. But I don' t see a reason to dump all altcoins. I am sure that some good coins will have a future.
Not a good decision for selling altcoins when the price is low and you buy when the price is high. Actually, it is the best time to buy altcoins during red days, because altcoins price will recover. The same scenario last hard fork altcoins dump but it will rise again.
Now is the worst time to sell altcoins because all of them are in red. I udenstand that people are selling them because of the fork. I personally wouldn't sell them when the price is low. I think that after the fork, prices of altcoins will start to raise. There are good altcoins out there and I think that they have a future, together with the bitcoin. Of course Bitcoin is a King of cryptocurrencies and it is wise to hold at least 50 % of portfolio in BtC. But I don' t see a reason to dump all altcoins. I am sure that some good coins will have a future.
always keep 30-50% in btc
however the good alts are going to make you more from here on in percentage terms
Depends upon actual "Dominance" as seen on https://coinmarketcap.com/charts/however the good alts are going to make you more from here on in percentage terms
If the bitcoin Dominance is rising, we are like 62% around tomorrow, it's unwise to hold more than 40% in Alts. On a rise better lesser than those.
The first sharp drop on the Dominance charts usually made a short rest, that is the ideal buying point for the small marketcaps.
Factually trading is easy, just the patience troubles, we are looking at four years of data on that chart.
Lol. That's a pretty dumb decision tommake specially at a time like this whem a fork is about to hapoen again. Clearly these guys you are saying don't know much about how the crypto world works. I mean, i love bitcoin and all but, i sure believe in the altcoins i own big time. Because i have not just invested without thinking a lot of times and researching about the altcoins i have. And besides, what ever it is, profit is still profit. A lot has gained a lot with altcoins. Not because altcoins are better with bitcoins, but because these people sell and buy at the right time. That's how i see it.
After the BTC bull run is over and people get their free money from the fork, where do you think they will re-invest that money? Personally, I think they will put a lot of that money back into the alt market.
no doubt alt coins will recover. i sold all of mine except for golem because the price is to low. i will reinvest though after this run.
I have done the same, i was holding a lot of golem's and zrx's for months, and i decided to dump them last saturday, and i exchanged all of those altcoins to bitcoin, and i am happy with that, because when i dumped them bitcoin was about $5700, and now it is upto $7450 each one.
I am only holding 2 ethereums, but i dont know, i dont want to dump them because i feel like that those are my favourites altcoins, no matter what, but yes, if it dumps below $275, i will dump them anyway.
I am only holding 2 ethereums, but i dont know, i dont want to dump them because i feel like that those are my favourites altcoins, no matter what, but yes, if it dumps below $275, i will dump them anyway.
I believe that you are right but not completely because there are many very interesting projects and they can be raised much more than just bitcoin
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