It's become hard to understand altcoin movements.

Argoo

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Quote from: youdacapt on February 26, 2021, 07:21:38 AM

Quote from: The Cryptovator on February 26, 2021, 06:14:25 AM

Do you have any thoughts on how should trade with alts in this situation?

The best way to trade with alts this season is to buy low or the bottom and sell when you are in profit, but before doing so; you need to dyor and figure out a strategy for each altcoin with which you want to trade; you then figure out your price entry, when to take profit; and when to exit trades, you must also use stop loss, because the altcoin market is a volatile space

Yes, although the general trend has still persisted and altcoins generally follow the price movement of bitcoin, however, general trends alone are clearly not enough now to make a good profit. Many altcoins now behave in isolation in terms of price, and therefore it is necessary to study the cryptocurrency and its project well. The cryptocurrency market is getting more mature and I love it.

thesmallgod

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the whole scenario will tell you that people are greatly considering the bitcoin rather than altcoin. Unlike few years ago when there was bull run that cut across every crypto, the present bull run only affected mostly bitcoin, BNB and Ethereum. When the price of bitcoin go up, people sell altcoin to acquire bitcoin and that is the reason for dump of some altcoin, However, the reverse does not play the same way, when bitcoin price go down, you will understand that before altcoin prices also go down but there are some exception I have seen recently on big trading platform such as Binance. It seem we are learning everyday and this is exactly why the word expert is not that real in crypto

Kang TB

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Quote from: The Cryptovator on February 26, 2021, 06:14:25 AM

Do you have any thoughts on how should trade with alts in this situation?

personally i only buy and hodl a good altcoins for long term my friend, such as ethereum, bnb, cardano, chainlink and polkadot
so, i don't trade alt in daily basis, because the market is very volatile, also i don't have enough time to analyze this alt market everyday

Zeehaxan

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Quote from: The Cryptovator on February 26, 2021, 06:14:25 AM

For a few months, I had far from alt trading although sometimes play with BTC/USDT trading. But due to bull markets I thought should again play with alts since whole alt markets have not yet recovered. Sadly I regret to see alt movements, it's become very hard to understand. Because when a dump happens on Bitcoin price then we encounter an immediate action in major altcoins. Alts just follow the Bitcoin trend. But surprisingly when BTC recovers after a dump, then alts aren't following bitcoin trends but still dumping more. I am not a tech guy, so just follow the trend. But seems the trend also missing lately due to alt behavior. If always happen like that then most likely I will have to lose my portfolio again like last bull in 2017.

Do you have any thoughts on how should trade with alts in this situation?

Sooner or later alts will break out as well and then we can expect parabolic gains in value but firstly btc has to do a big run too so market has to show some big decisive moves to set the pace or direction clearly.

illnino

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Cryptocurrency market trends changing very rapidly. Today's situation cannot be compared with past years. Although, in essence, BTC and altcoins are two different things but alts follow BTC!

You only need to trust your own observations, and carefully monitor the changes in the rating. I follow the principle that over time, only the strongest coins of the most promising projects such as Bitcoin and Ethereum will remain. You need invest in these coins in order to have a profit and a budget for new investments.

seleme

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Quote from: memyselfandi on February 26, 2021, 12:14:59 PM

The crypto market right now is so sad and hurtful to view. All I am seeing is red and declined graphs. I am starting to think that bull run is over and top coins are declining also. Btc dropped from $50k to $47k in just few days along with eth.

It is not the best time to invest in any project, that is why it seems the bull run is over. On the other hand, BTC has started decreasing from 50 to 47. It will affect some other top altcoins prices and no doubt they will start following BTC. ETH price has reached 1.5k, but it is around 1.395 right now. ETH is also my favorite currency, however, in my view, ETH starts decreasing nowadays. Because when BTC rises up, ETH is getting up either. It is definitely hard to know what will happen. But we can say that a bear market is near.

Asuspawer09

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From the start, we cant really accurately predict how the market will move, and I just the experience in some altcoins we know that the cryptocurrency community was just 10years or more years old since we started bitcoin or the cryptocurrency community.

But I guess if we just experience a different era of altcoins, the movement of altcoins these days is really unpredictable and it is more volatile than in the past years, I guess because of the cryptocurrency trends and how fast we share or influence the information these days.

The bitcoin market was down and then moved as well in the altcoin market going dump as well, altcoins just hit differently and we don't experience this in the altcoin market yet so we don't have enough basis except from the past Bullrun in 2017.

BayAngelo

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In my humble opinion, i will sugguest that you exit the market. i am currently moving my funds into usdt and also trying my best to deposit into yeild farming. i don;t think the market will recover until mid April. the current market as it stands now is not balanced and alts will keep going down. there might be sign of recovery but not a solid sign. the current market will remain unstable till mid year. bitcoin might go below 40 to 35,000 usd.

BITCOIN4X

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For most of the time I have noticed that altcoin price movement always follow bitcoin price movement. This has become commonplace in trading and you shouldn't be surprised. Almost every period of the increase in bitcoin price, in my opinion, altcoin also go up and vice versa. And maybe we will always see the same thing in crypto trading because Bitcoin is the king of cryptocurrencies. Altcoin trader react very quickly when bitcoin price correct. But altcoin still need time to increase if bitcoin pricesget too high. This will make it difficult for trader.

tvplus006

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Quote from: The Cryptovator on February 26, 2021, 06:14:25 AM

...Do you have any thoughts on how should trade with alts in this situation?

The price movement of altcoins relative to BTC has not changed since I started trading cryptocurrency. I know that when the price of BTC falls, the price of altcoins also falls. The same thing happens with altcoins when the price of BTC rises. Altcoins rise in price when bitcoin is flat.

Febo

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Quote from: The Cryptovator on February 26, 2021, 06:14:25 AM

Do you have any thoughts on how should trade with alts in this situation?

Why do you need to trade? Just buy coins that you believe will be used 10 years form now. After a year or so revaluate your portfolio and if things changes in coins fundamentals sell, if nothing changed keep them.

If you really want to trade then trade basing technical analysis. There is plenty of info about that on the internet since is not solely related to crypto. Or on social metrics. https://lunarcrush.com/markets?rpp=50 Watch this talk about Lunarcrush to understand. https://www.youtube.com/watch?v=PmvrYQ_xQAM

But as I said. Easiest is just to make a research, buy and then go make pasta and forget about your crypto. Watch this: https://www.youtube.com/watch?v=IprScr_TBGY

ahoenk

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Its hard to predict maybe because there is alot of altcoin launch everyday and also there is a new player coming in from stock market, i dont do trading now, only invest in new and legit project i believe will gives me 100x profit. Maybe it could be XSL Labs product.

Ridwan Fauzi

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If pay attention, altcoin movement will be soared when bitcoin price in sideaway market especially in low time frame. I feel like yours when I saw altcoin price movement and this thing has been discussed many time in this altcoin disscussion.

Also, an altcoim that has a good fundamental factor will give you a huge reward. I always update the news especially from cointelegraph to see new information comes. If there is an altcoin that has a good fundamental then I'll start to buy and set the target price after that I'll find another altcoin. Yeah, short term investment is really suitable rather than for long term investment.

coinswebid

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altcoins movements is unpredictable, so its better for us to buy and hold the best altcoins mate such as ethereum, ada or BNB
and we don't need to be in front or the chart everyday, the key is how we choose the right alts for long term investments

Maslate

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I don't see it difficult when it's happening that when bitcoin dump, altcoins dump.

It means alcoins follow's bitcoins trend, you just need to follow the trend also that happens 99% of the time.
The volatility is still there, altcoins is even high volatile than bitcoin and some altcoins are already seen with huge increase already.

Murpheus

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All I can say is... Its like a black Friday for cryptocurrencies....
Just making room for more investors to want an in...
Already someone has already talked about diversifying....
Its like those who were holding altcoin are swapping them to get major coins...
Its what I did... Or would do...

Tipstar

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Still the altcoin market is directly related to the price movement of bitcoin. And Elon Musk, an individual billionaire has been a large factor affecting the price. The recent rise in price of cardano while other coins are falling is attributed to the news that Elon Musk has bought a significant amount of cardano (which is probably a fake news). One may argue that alts market is not mature enough but every market works in mysterious and silly ways.

XCANA

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Basically, there isn't a new mean to trade altcoins, the trade still remains through the buying of digital coins through the fiats and later use the digital (bitcoin) coins to purchase altcoins of your choice. Though the market seem different from what we know it to be, but buy every altcoin through bitcoin seem good and profitable. You can try this method in Binance exchange which i have used and study carefully.

wxa7115

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Quote from: The Cryptovator on February 26, 2021, 06:14:25 AM

For a few months, I had far from alt trading although sometimes play with BTC/USDT trading. But due to bull markets I thought should again play with alts since whole alt markets have not yet recovered. Sadly I regret to see alt movements, it's become very hard to understand. Because when a dump happens on Bitcoin price then we encounter an immediate action in major altcoins. Alts just follow the Bitcoin trend. But surprisingly when BTC recovers after a dump, then alts aren't following bitcoin trends but still dumping more. I am not a tech guy, so just follow the trend. But seems the trend also missing lately due to alt behavior. If always happen like that then most likely I will have to lose my portfolio again like last bull in 2017.

Do you have any thoughts on how should trade with alts in this situation?

What happens is that there has been a fundamental change in the market, in 2017 the bitcoin dominance was way lower because there was this idea in the mind of many investors that an altcoin could surpass bitcoin and become the new kind of this market, and there was a point during that year before the segwit upgrade went live in which ethereum was close to surpass bitcoin in terms of market cap.

Since then we have understood one thing, bitcoin is the king of this market now and forever, and when we add the amount of scams that happened a great deal of scepticism has taken place as people do not want to get scammed anymore, when you add all of that and the fact that it seems bitcoin is becoming a store of value then it is natural that we are seeing what we are seeing, altcoins are no competition for bitcoin and their movements will not be anywhere close to what we saw in 2017, so if I were you I will stay away from altcoins from now on.

Gozie51

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Quote from: The Cryptovator on February 26, 2021, 06:14:25 AM

Sadly I regret to see alt movements, it's become very hard to understand. Because when a dump happens on Bitcoin price then we encounter an immediate action in major altcoins. Alts just follow the Bitcoin trend. But surprisingly when BTC recovers after a dump, then alts aren't following bitcoin trends but still dumping more. I am not a tech guy, so just follow the trend. But seems the trend also missing lately due to alt behavior. If always happen like that then most likely I will have to lose my portfolio again like last bull in 2017.

You know already that bitcoin controls the market flow. When bitcoin bull after some time , altcoins will grow in green and the bear happens the same way.

But your concern is the recovering of bitcoin does not show same for altcoins. This is not all altcoins. Top altcoins will manage to stable again, and low profile altcoins may not drive back to the point where it was because it is just a hype and pump coin, no strong team. Next time you need strong altcoins to invest.

Topic: It's become hard to understand altcoin movements. (Read 276 times)