Explain me like I am 5 | Bitcointalksearch.org

Jawhead999

legendary

Activity: 1820

Merit: 1207

Quote from: UnDerDoG81 on January 22, 2021, 07:01:12 AM

So if bitcoin only goes 2x by let's say April. How can alts perform 25x if they follow Bitcoin? I am curios if I did the right thing by switching my btc to alts in hope to make 20x. Probably switch back if no good explanation will come.

To be honest it's based on the current price
When the price is high it's hard to multiply it, let's say Bitcoin price is $30,000 the double is $60,000 it's has large difference of the price $60,000-$30,000 = $30,000.

While altcoins price is $0,2 the 20x is $4 only, the difference is only $4-$0,2 = $3,8, it's why altcoins price is easy to multiply rather than valuable asset (e.g. Bitcoin) but the risk is very high rather than Bitcoin.

For the advice you can read above user explain especially post from @NeuroticFish

KaratX

member

Activity: 252

Merit: 29

Sovryn - Brings DeFi to Bitcoin

As a legendary member on this forum what type of strategy can a member like me share with you that you don't already know? All those altcoins you choose are good enough that's why you chose them, most especially that NEO, it's a altcoin that's very nearer to bitcoin in performance, it revaluate faster when bitcoin surge compares to other altcoins

NeuroticFish

legendary

Activity: 3668

Merit: 6382

Looking for campaign manager? Contact icopress!

Quote from: UnDerDoG81 on January 22, 2021, 07:01:12 AM

I listened to the advice of so many heads, calling a alt season pump soon. So I switched some bitcoin to three alts.

I'll explain you like you're five:
When you start doing anything, but really anything, you have to start with the start. In investing, the start is learning the basic rules.
I am shocked that you pose as legendary that was here in 2017 (2013?!) and you don't know them. You'd better start an account according to your knowledge instead of using a hacked/bought one.

The rules you've "missed":
* never invest money you don't afford to lose
* never follow advises from random people, especially over internet
* do your own research before investing into anything

Also always keep in mind that nobody can predict the future.

Distinctin

hero member

Activity: 2926

Merit: 657

No dream is too big and no dreamer is too small

Wow, so you like to learn the basic first since you consider yourself like 5, is it 5 years old?

Man, I gotta be honest with you, if you want to be profitable investing in crypto, you should learn it yourself and you have to be knowledgeable enough in order to be profitable. Don't rely on the information you read or hear from other people, some are just making a FOMO or FUDDINg the market, that's very common, but if you know what you are doing, you are not getting affected with all that stuff.

UnDerDoG81

legendary

Activity: 2179

Merit: 1201

Ok I listened to the advice of so many heads, calling a alt season pump soon. So I switched some bitcoin to three alts. Now people say alts can pump 10x or even 25x. Now explain me. I have gone through the 2017 market. Alts always follow bitcoin. So if bitcoin only goes 2x by let's say April. How can alts perform 25x if they follow Bitcoin? I am curios if I did the right thing by switching my btc to alts in hope to make 20x. Probably switch back if no good explanation will come.

Edit: I am asking this because so called experts compare alts to their 2017 pumps. But this was the time these alts got created. So I dont see how old alts can pump back to their 2017 ATH?

I bought ark,Icx,Neo.

Topic: Explain me like I am 5 (Read 108 times)