Bitcoin is perhaps the most advantageous trading markets and among the most rewarding marketplaces.
The lone issue with using BTC is that the fees can be high. But if you're really into and if you want the most versatile base currency, then this is really the best bet.
Just like what I did. I'm currently having the BTC-USDT pair in a particular exchange, which is Kucoin.
Topic: Considering BTC Pair (Read 107 times)
when the market is bullish the thing to watch out for is the BTC mate pair, why?
because the BTC pair making the altcoin season will be extraordinary, we know that the BTC pair is at the bottom, and almost all altcoins,
of course, if you want to buy altcoins, make sure the BTC pair analyzes first, if it is at the bottom my advice is to buy that coin ,
I hope we all participate in altcoin season!.
because the BTC pair making the altcoin season will be extraordinary, we know that the BTC pair is at the bottom, and almost all altcoins,
of course, if you want to buy altcoins, make sure the BTC pair analyzes first, if it is at the bottom my advice is to buy that coin ,
I hope we all participate in altcoin season!.
My suggestion is to analyse first in what kind you want your profits to be in. If BTC is your currency of choice trade the xyz/BTC pair, else trade the USDT pair. I don't see any reason to analyse both of them. I think it would be useful to analyse the BTC dominance chart, though.
The BTC pair is a good benchmark while trading as Bitcoin is itself a benchmark.
Actually best is to consider at the same time:
Crypto1/Crypto2
Crypto1/BTC
Crypto2/BTC
BTC/USD
Actually best is to consider at the same time:
Crypto1/Crypto2
Crypto1/BTC
Crypto2/BTC
BTC/USD
When you are trading stable coin pairs, e.g. DOT/USDT, ETH/USDT. Do you still considering o analyzing the BTC pair of what you are trading? E.g. ETH/BTC, DOT/USDT.
Most of my trades recently are on stable coin pairs, which most of the time, I don't consider their BTC pairs. I don't think if it is okay if I just ignore their BTC pair.
If there is any reasons should I consider them, what are those?
Any advice on my concern?
You can ignore the BTC pair if you trade the coin only with the stable coin pair because the intention of doing trade is to make profits so we have to make an analysis before any trade against the coin which we are going to trade, technically.Most of my trades recently are on stable coin pairs, which most of the time, I don't consider their BTC pairs. I don't think if it is okay if I just ignore their BTC pair.
If there is any reasons should I consider them, what are those?
Any advice on my concern?
Meanwhile, you can be confident about bitcoin for sure in long term so just keep trading with any coin and invest the profits into bitcoin for longer-term holding.
If there is any reasons should I consider them, what are those?
Any advice on my concern?
It's just going to depend on which asset(USD or BTC) you want to increase your holdings in. For traders that just simply want to earn USD at the end of the day, then looking at everything through USDT would make sense. On the other hand, for people like me that just trades other cryptocurrencies just to increase my BTC stack(and not focus on USD value), then looking at the BTC trading pairs would make more sense.
Mostly I only reconsider looking/analyzing at the BTC pair when the BTC dominance is decreasing and looking for some breakouts and nothing more. I do most of my trades on USDT and just what GreekCoiner said the liquidity was huge compare to that of BTC.
Well GreatArkansas, USDT pairs have more liquidity and volume and that's why most traders prefer them. It's easier to enter and exit in USDT rather than in BTC most of the times especially now that Tether market cap has reached the 26Billion USD market cap.
Also, for the Technical Analysis it is good to look both BTC and USD(T) pairs as it can give you better picture of support and resistances and other critical levels. Note that not all of the alts have USDT or BTC pairs and some coins were being trading only with BTC or ETH pairs all these years, so if you want to have more history you need to look the BTC and ETH trading pairs.
Update:
For example this is DASHUSDT in poloniex: http://prntscr.com/xvc9pa
and this is DASHBTC in poloniex: http://prntscr.com/xvcdgd
See how support and resistance are clearly visible in DASH/BTC Monthly chart. And of course we had this insane pump of 200% in 1-2 weeks.
Also, for the Technical Analysis it is good to look both BTC and USD(T) pairs as it can give you better picture of support and resistances and other critical levels. Note that not all of the alts have USDT or BTC pairs and some coins were being trading only with BTC or ETH pairs all these years, so if you want to have more history you need to look the BTC and ETH trading pairs.
Update:
For example this is DASHUSDT in poloniex: http://prntscr.com/xvc9pa
and this is DASHBTC in poloniex: http://prntscr.com/xvcdgd
See how support and resistance are clearly visible in DASH/BTC Monthly chart. And of course we had this insane pump of 200% in 1-2 weeks.
When you are trading stable coin pairs, e.g. DOT/USDT, ETH/USDT. Do you still considering o analyzing the BTC pair of what you are trading? E.g. ETH/BTC, DOT/USDT.
Most of my trades recently are on stable coin pairs, which most of the time, I don't consider their BTC pairs. I don't think if it is okay if I just ignore their BTC pair.
If there is any reasons should I consider them, what are those?
Any advice on my concern?
Most of my trades recently are on stable coin pairs, which most of the time, I don't consider their BTC pairs. I don't think if it is okay if I just ignore their BTC pair.
If there is any reasons should I consider them, what are those?
Any advice on my concern?
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