If bitcoin rises and my altcoin stays the same BTC price, I'm still riding the

RoommateAgreement

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Bazinga!

the thing about bitcoin is that it always rises. so it is a safe assumption to tell yourself that bitcoin price will be higher than today's price eventually in the near future. so whatever you make is going to be also an increased profit in fiat too.

Quote from: adam1230 on October 06, 2017, 07:28:15 AM

there is an ecosystem in altcoin market. price corrections comes everytime.
So for major altcoins it does not really matter. Its all connected to bitcoin price.

the "connection" is not really a direct one though. it is mostly indirect connection and a reverse relationship. meaning whenever bitcoin is hot, altcoins are dropping mostly when bitcoin price goes down.

adam1230

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there is an ecosystem in altcoin market. price corrections comes everytime.
So for major altcoins it does not really matter. Its all connected to bitcoin price.

tukangkopi

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If you trade by paying attention to the difference in fiat money then you will only profit slightly, more you pay attention to bitcoin difference because it will benefit both the fiat or btc itself.

batang_bitcoin

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Quote from: bitcom1 on October 06, 2017, 05:48:35 AM

BTC rise correct?

And if my altcoin/btc rises while BTC rises my profits are compounding?

Yes you are riding the bitcoin rise if you just hold your alt coins and bitcoin. Profit from bitcoin holding and alt coin holding are different so don't be confused about it and when you just hold your coins on your wallets you don't have to think about it because there's nothing you've been doing so when the price increases, the value of your coins are also increasing. That's easy to understand, hope you understand what I'm trying to say.

BitcoinHodler

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HODLing is an art, not just a word...

usually when people invest their bitcoins they are looking for making profit on bitcoin. so if an altcoin stays the same price in BTC for the time they have invested in them, they are losing as an investor because their money (bitcoin) is sitting idle by without any profit.

as an altcoin trader, you usually don't care about bitcoin fluctuations in short term. you earn more bitcoin (profit) and in long term that profit is also gaining profit in USD since bitcoin rises in long term.

Emoclaw

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Quote from: bitcom1 on October 06, 2017, 05:48:35 AM

BTC rise correct?

And if my altcoin/btc rises while BTC rises my profits are compounding?

That's a very obvious answer there, of course they are.
As long as you personally consider a FIAT surplus to be profit (instead of a Bitcoin surplus, which only some people consider it as they don't care about FIAT), then you're profiting.

alani123

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That's why many altcoins rose in FIAT value while BTC was rising on price. Some went through their own bubbles in the meantime but among all bitcoin scores the biggest total gains in whole value as a single entity market-wide.

renes

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Well, it depends. If you trade or hold altcoins to increase your bitcoin or usd? I think in the long term it does not matter because if altcoin or bitcoin rises too much, certainly there is a correction.

erox

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Yes, you understand correctly, approx lot increased, if you count in dollar terms.

bitcom1

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BTC rise correct?

And if my altcoin/btc rises while BTC rises my profits are compounding?

Topic: If bitcoin rises and my altcoin stays the same BTC price, I'm still riding the (Read 186 times)