Topic: RED SUNDAY - cryptocurrencies dropping like bricks - page 4. (Read 1679 times)

Its a weekend and people are cashing out. Relax. Family time means less time allotted to businesses and investments. More people will be cashing in tomorrow (Monday) once businesses open and everyone gets back to work. I can imagine when co workers meet they will talk about this weekend's dip and will convince each other to buy more bitcoin. This money should also eventually flow into alts. Just hodl.

No, it is a cryptocurrency.
Every tether is always backed 1-to-1 by USD held in the reserves. So 1 USDT is always approximated to 1 USD.
If you buy BTC from an exchange, the BTC is usually available immediately after your payment is registered. Is just if you send to another exchange/wallet the delay comes in.
In your case, you don't necessarily need to convert from BTC to USDT first. Because tradings on online exchanges are executed momentarily. For example if you trade BTC to ETH, you will get ETH in your account the instant the order gets executed, everything happens internally.

However there are EXCEPTIONS: Exchanges where you deal with the seller/buyer directly, like localbitcoins.com. In this case you have to send BTC to the seller's wallet, and the seller then send ETH to your wallet.


I mean for example, if you have $1000 worth of ETH on Monday. Tuesday comes and a sudden 100% pump happens, you now have $2000 worth of ETH. Then comes Wednesday and a 50% dip takes place, your ETH is now worth $1000.

Strategic example, if you have $1000 worth of ETH on Monday. Tuesday comes and a sudden 100% pump happens, you now have $2000 worth of ETH. You think the pump is over and can anticipate a dip, so you now sell $2000 worth of ETH to USDT. You now have $2000 worth of USDT. Then comes Wednesday and a 50% takes place on ETH. Your USDT is still worth $2000, but now you sell USDT and buy $2000 worth of ETH.

With the strategic example, your market value would be $2000, while the 1st example $1000.



Yes, correct. If you want to "lock" the profit/loss in place you can sell whatever coins you have and buy USDT or fiat.

we have seen the price is fall now and I think there are still many people gets panic for this and they decide to sell their bitcoin to buy back bitcoin at a lower price. I am waiting for the price for getting down for more so I can prepare to buy another bitcoin with low price. I see in the coinmarketcap, bitcoin has decreased 15% and I think this is the correction that we got now but I still believe that bitcoin price will increase again.

Now i can buy more neo.

The price increase of bitcoin move way to fast. There will be correction and there is nothing bad is happening. These are just market natural flow of event after a sudden rise or sudden fall in price. So I am getting ready to buy more of your bitcoin when you panic sell!

When the Bitcoin price falls or rises against the USD, all the altcoins will usually follow. This is because all altcoin prices are based on their Bitcoin exchange rate, not their USD exchange rate. This is similar to the traditional stock market, where really bad news for one company can cause all stocks in the same industry to sell off.

yes time to buy and time to cut loss. bitcoin is droping and makes all the coin drop too. just hold till bitcoin rise. if bitcoin increase i believe the market will recover too

Buying altcoins in the downtrend of the market while others selling is the wisest thing to do. Stratis is a good choice, and i have been holding Strat for a while. There is a lot of news and releases in the coming month for Stratis.

The market behavior is useful to examine! And we need to learn how to earn money in any occasions. What I will do now is to buy coins that fell. Since a few days ago I recorded a good profit in Usdt. And such coins as Stratis is a must buy, while they again have not grown

It is a normal event where digital currencies are flunctuating, Indeed it is a great time to buy, and I will probably buy btc and eth and a coin that has a good trend history.

Hi there.  So to make sure of this... usdt is not fiat right?  Okay so let say the only way for me to get btc quickly is by requesting a withdraw from a site that pays out in btc.  So for example, i go and request a 5k usd withdraw.  They then send me 5k in btc to me.  But the issue is this can take hours or even a day or longer.  So if i plan to make sure i have money on hand to buy altcoins especially during dips, once i receive the btc.... i then send the btc immediately to my bittrex account and then immediately sell it for usdt right?  The thing is you say you sell it if you think that currency will dip.  Well for me... im doing this mainly because i want to buy altcoin.  So that reason is fine right?  That is actually the main reason.  Also this would apply to bitcoin as well right?  


So when you say only safe way to safeguard your current market value, you mean the ability to buy an altcoin or bitcoin when you want immediately right?  Because i could not think of a way to buy an altcoin immediately as when i use to buy altcoin... i need to first request a withdraw from a site that pays out in btc.  This could takes hours or a day or longer.  Then once i receive it, i almost always use shapeshift and then convert the btc to the other altcoin immediately.  But of course when i do this, i cannot buy the altcoin i want at the price i want immediately.  So of course the price can go higher or lower etc.  So if i want to have usdt on hand, what i describe is the proper way to do it right?  Like if i want to have 5k usdt balance in my bittrex acct to buy altcoin or btc etc... i should do a withdraw from the site... they send me btc... i just sell it for usdt.  Then i would have like a 5k usdt balance there where i could buy whenever i want at the price i want?    


Another thing i want to ask.  Let say i buy an altcoin for 5 dollars and buy 1000 shares of it.  Let just say btc is worth 5k for example.  Thus i spent 1 btc to buy 1000 shares of an altcoin.  Now the altcoin price went up to 8 dollars and i want to sell.  I sell all of it and i make around 3k profit minus fees.  So when i sell the altcoin back to btc, i get btc.  But let say btc went from 5k to 15k for example.  So i started out with 1 btc... but because btc went up so much... 1 btc is 15k.... and i get only 8k back... i get around 0.533 btc.  So here i clearly made a usd profit.  But in order for me to lock this profit in daytrading, i should be selling that 0.533 btc immediately for usdt which should be around 8k usdt right?  That way i locked by 3k usdt profit?  Because if i dont convert it to usdt and say btc drops... well my 3k usd profit from buying/selling that altcoin could be negated by the drop of btc right if it drops over that amount?

With this things happening today, I'm sure more traders will choose to buy more alts and try to hold, for me I'll go with PoS coins so while waiting
I can place it inside my wallet and accumulate with the rewards, planning to buy  stratis while there's some downfall I know the team will bring
updates and will bring new height to this coin.

I have already unstocked my bitcoins before its price drop, and i can see bitcoin is still rising after this little drop.
I think people are selling altcoins and buying bitcoin again, this is why bitcoin seems to be on previous price again.
I am expecting a vast drop in bitcoin price soon on the day of christmas. That would be also a good chance for buyers to acquire bitcoin at cheap rates

I think it market will still go low, so waiting a little bit and going to buy again. Good thing I sold my coins before bloody Saturday. Selling at high price and buying at low is really profit maker. Lastly, 2018 will be a year of hodl for me as I see that most cryptocurrencies price will soon fly high.

It does not look very good. But I don't see anything catastrophic. I think that we will observe such failures several more times before 2018.

Exchanges that support USDT
Yes, Bittrex do support USDT.

You sell whatever cryptocurrencies you are holding to USDT if you think that specific cryptocurrency is going to dip.
When you think the dip is over, sell USDT and buy back that cryptocurrency.
Since Bittrex don't support fiat, this approach is pretty much the only safe way to safeguard your current market value.

This can also be done with BTC, but BTC is more a wildcard now.

I believe it because altcoins market is very tightly correlated to Bitcoin prices, the only way for altcoins to go up is for Bitcoin to stay stagnant or it has a slow uptrend/downtrend movements. Well, we can force to stop people taking a profit. The good thing is today kinda like black Friday for Altcoins. This is the best time to start accumulating more altcoins.

>buying at the height of a pump

lmao 

Hahahaha this so clearly a business strategy. trader should be cleaver also.

Seems like the big kid on the block is calling all the shots today. Bitcoin goes up alts go down, Bitcoin gets a bloody nose everyone else bleeds with him.