The rules haven't changed!
We still buying low and selling high and if this is in connection with the recent drop I honestly think we should all have expected a correction to happen after the bull run.
Going forward if we have to give ourselves the edge over the market we need to learn how to read charts to better our trading skills,waiting to ride the wave of bitcoins success isn't enough.
Topic: It's become hard to understand altcoin movements. - page 2. (Read 256 times)
Theoretically and technically speaking regarding Bitcoin price movement and the other altcoins have an almost similar pattern. IMO, just probably because when people tend to buy altcoins they need to buy Bitcoin first through fiat and then altcoins to trade. Presumably, that's might the reason that I have seen here, so when Bitcoin goes down the price, there's a price trend of course. So it's really hard to determine where those altcoin heading at or they can so it's your capital able to survive.
I suggest sticking on top 10 altcoins that have the potential of making a profit, it's very risky to if you don't even know what you have invested, it might wipe out the amount in your portfolio.
I suggest sticking on top 10 altcoins that have the potential of making a profit, it's very risky to if you don't even know what you have invested, it might wipe out the amount in your portfolio.
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.
That's right, I experienced this too, armed with the excuse that seeing altcoin growth almost all of a sudden, as a trader who doesn't want to be left behind I jumped back into the altcoin and instead forced to wait the wrong way, creating queues at green time was a mistake. so I only have 1-5 minutes to resell it (not to hold). like playing table tennis. however there is a risk of being covered when the dump does not recover. all left at a high price. while the bitcoin trend is undergoing a sad correction, altcoin are getting carried away.
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?
Do you have any thoughts on how should trade with alts in this situation?
I thought I was the only one that noticed on what you have observed. My only guess is that the past altcoin holder are way too many than we havr expected. Maybe they did not yet sold their alts to cut loses but instead hodl for a time like these. Where new investors come and they have taken then choose to get out as much as they could. I also think that way, I thought my alts that I bought last 2017 was never coming back to the way it was or gain from them. I was happy to sell them with 80 percent of the original bought price, and I cash it out to start a new.
Quite a lot of things are happening on the Bitcoin network, the influx of institutional Investors, only but little price corrections as well as the Bitcoin community hoping that sudden significant plunges/'bubble burst in Bitcoin price is all but over, I think all this creates a change in the network and makes it somewhat difficult for alts to follow the BTC trend and establish a price movement that traders could easily follow.
Having said that, it wouldn't be a bad idea to just pick a couple of good altcoins, ethereum for example and hodl for the meantime, while still studying the trends to see if you could establish an acceptable/working strategy, following the trend at this time could incur losses for you. Ethereum is doing quite well in the market, it has broken it's previously held ath, and it's community is ever growing, it's a very good option amongst alts to hodl for the long term.
Having said that, it wouldn't be a bad idea to just pick a couple of good altcoins, ethereum for example and hodl for the meantime, while still studying the trends to see if you could establish an acceptable/working strategy, following the trend at this time could incur losses for you. Ethereum is doing quite well in the market, it has broken it's previously held ath, and it's community is ever growing, it's a very good option amongst alts to hodl for the long term.
I see on average Altcoin is a centralized coin...
which means the value of the coin can actually be regulated by the coin developer if they have a large amount of capital. that's the reason why if you want to know the price movements of an altcoin then you have to keep an eye on their social media or their site, maybe there are clues.
which means the value of the coin can actually be regulated by the coin developer if they have a large amount of capital. that's the reason why if you want to know the price movements of an altcoin then you have to keep an eye on their social media or their site, maybe there are clues.
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
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There has2 pairs you should see.USD estimation and BTC pair, so when the dump or increase need to see from where the altcoin was an increase. Altcoin need sometimes to gain momentum again especialy on btc pair while bitcoin was moving up or down, the real profit is when bitcoin pair of that altcoin was moving but.
But as always, even you are losing on bitcoin pair since bitcoin price increased the estimation fiat of your altcoin could be profit. I'M just following a history since we have on all-time high price and don't know when the bubble blow up I avoiding to day trading.
Due to the increase in the number of existing cryptocurrency the market is getting further diversified its total market cap while the top coins like ethereum, bitcoin and many coins continuously on the rise then the remaining coins become more fragile due to the emotions of people who are holding them for longer. Simply halting altcoin trading is good for the holders at the moment or they should go with stable coin pair in short time candle sticks to make some quick bucks.
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?
Do you have any thoughts on how should trade with alts in this situation?
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