Which is best to use for charting against alt's - BTC or USD ?

BrewMaster

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Quote from: skyline247 on October 04, 2017, 09:41:36 AM

USD. Simply because it is more stable. You can't actually tell the true value from charting Bitcoin, because of the huge volatility.

but the issue with USD is that majority of altcoins are not even traded against USD! they only have markets to be traded against bitcoin (of course there are random small markets in small exchanges like c-cex with fiat but they don't count). so you should stick to the market that is available not something else.

also those minorities that have both bitcoin and fiat markets are mostly being traded against bitcoin and people measure them that way too.

these two make bitcoin like an unofficial base of comparison.

skyline247

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USD. Simply because it is more stable. You can't actually tell the true value from charting Bitcoin, because of the huge volatility.

beerlover

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Quote from: mckenzie126 on September 25, 2017, 04:29:16 PM

I see some good patterns with alts against BTC but are not so good against USD. Also vice versa.

What to use ?

It totally depends on how you want to trade and which currency you are trading with. Obviously, you won't be looking at BTC-ETH chart when you want to trade ETH-USD.
So, the choice is yours on the style of trading you want to stick with. If you can make easy and quality decisions on BTC-ALTS, why not and if you prefer the system of ALT-USD, then good too.

Fireblade

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Quote from: Persiville on September 29, 2017, 11:13:33 AM

Just like the others said, it depends on your strategy and method dude. If you are comfortable with USD or either BTC then you can freely used them depends on how you make analysis. This is why learning and more reading can really give more knowledge to you, even though I am not really an expert trader but those kind of things are just depending to the ones making an analysis.

that is right that everyone has their own choice and mndset, but to me i think that the best option is to use bitcoin but it is depending on the faclities of bitcoin if presnet in an area to be use for. in fact in modern time we can expect that bitcoin will be the primary currenty throughout the world to be use for everyting we want, becasue bitcoin has a very bright future and hope that it will remain as number one currency for along long time.

mobnepal

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Most of the trading volume will be in alt-btc pair rather than alt-usdt/usd because most of the day traders just try to sell bitcoin to buy some alts when they are cheap and sells them for bitcoin when they will be happy with what they will make on that day.

I also rarely trade alt for fiat, but if you will calculate price of alts in usd it will be almost same for alt-btc and alt-fiat markets.

mrcash02

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What is your goal, profit in BTC or in fiat? If you want to convert your profit to BTC, charge it into BTC, if you want profit in fiat, charge it into USD or into those AltCoins that follow the Dollar price. I see traders trying to live from this income they have, then they need fiat, it's interesting for them to exchange their profit to Dollar and if necessary, converting the Dollars again to AltCoins to continue trading.

This way you can track your profit much easier, as Dollar is stable, while with BTC sometimes you can get lost while trying to find how much profit you are making, as its price changes all the time in great amounts.

reflector

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Quote from: Persiville on September 29, 2017, 11:13:33 AM

Just like the others said, it depends on your strategy and method dude. If you are comfortable with USD or either BTC then you can freely used them depends on how you make analysis. This is why learning and more reading can really give more knowledge to you, even though I am not really an expert trader but those kind of things are just depending to the ones making an analysis.

I will say that it is right to go with bitcoin because of the future potential it has and it may reach 50k in 10 years this we cannot imagine with the USD or even Kuwaiti dinar.
If you are alt trader you will also go with the back of bitcoin because of its potential.
Analysis is the part of the trading, you can predict and making trading strategy to handle.

alani123

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This is very market specific and would always depend of what traders of a specific market focus on. In many cases, it's neither too! IMO the most traded paid should be taken into account more than anything else.

Persiville

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Just like the others said, it depends on your strategy and method dude. If you are comfortable with USD or either BTC then you can freely used them depends on how you make analysis. This is why learning and more reading can really give more knowledge to you, even though I am not really an expert trader but those kind of things are just depending to the ones making an analysis.

Beerwizzard

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Imho you better analyze it by comparing to BTC as a key indicator in cryptocurrencies. If you try to value alts then you will ignore the BTC changes. For example your altcoin had 3% growth to USD but at the same time BTC grew up by 5% so you just lost 2% by selling your bitcoins but got some benefit comparin to fiat.

BossBee

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You have to use both at least for the top tier coins. Dash has been showing a lot of signs of divergence against the moves of BTC as of lately.

Compradora

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Quote from: coinjack1337 on September 29, 2017, 07:12:07 AM

Quote from: DaMut on September 29, 2017, 07:09:40 AM

it's all depend on your strategy mate.
which one is the best to describe it or valuing it ? BTC or FIAT?
if i was you i will choose BTC.
why ?
because i believe everyday and everytime Bitcoin price will surging and will hit another ATH next year or around that.
which mean if i valuing my portfolio and drawing the chart against it i will understand that i am in profit or not.
if i am valuing it using Bitcoin as long as my Bitcoin increasing am in profit,even though the price is drowning.
i have a goal in a longterm,that is why i valued it using Bitcoin.

if you're a daily trader,the best way to draw the chart is using Fiat.
because you can see your investment from time to time and you can see your losses and profits.

both of them have an advantages and disadvantages.

Repeat those words very often, they are wise Roll Eyes

A very good description on what to Focus. Please more of this. Thumbs up!

USDT market is hard to predict, I say this from my previous experience. Bitcoin markets are more common for trading and they're more convenient especially in chart analysis.

jimbo2000

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I tend to thing and look at things in terms of bitcoin because I generally work on the assumption that as long as I am growing my btc then I will be growing my $ amount. Slightly flawed assumption perhaps but generally it will hold true.

tokencoin

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BTC from what I've experienced.

coinjack1337

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Quote from: DaMut on September 29, 2017, 07:09:40 AM

it's all depend on your strategy mate.
which one is the best to describe it or valuing it ? BTC or FIAT?
if i was you i will choose BTC.
why ?
because i believe everyday and everytime Bitcoin price will surging and will hit another ATH next year or around that.
which mean if i valuing my portfolio and drawing the chart against it i will understand that i am in profit or not.
if i am valuing it using Bitcoin as long as my Bitcoin increasing am in profit,even though the price is drowning.
i have a goal in a longterm,that is why i valued it using Bitcoin.

if you're a daily trader,the best way to draw the chart is using Fiat.
because you can see your investment from time to time and you can see your losses and profits.

both of them have an advantages and disadvantages.

Repeat those words very often, they are wise Roll Eyes

A very good description on what to Focus. Please more of this. Thumbs up!

DaMut

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it's all depend on your strategy mate.
which one is the best to describe it or valuing it ? BTC or FIAT?
if i was you i will choose BTC.
why ?
because i believe everyday and everytime Bitcoin price will surging and will hit another ATH next year or around that.
which mean if i valuing my portfolio and drawing the chart against it i will understand that i am in profit or not.
if i am valuing it using Bitcoin as long as my Bitcoin increasing am in profit,even though the price is drowning.
i have a goal in a longterm,that is why i valued it using Bitcoin.

if you're a daily trader,the best way to draw the chart is using Fiat.
because you can see your investment from time to time and you can see your losses and profits.

both of them have an advantages and disadvantages.

mckenzie126

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I see some good patterns with alts against BTC but are not so good against USD. Also vice versa.

What to use ?

Topic: Which is best to use for charting against alt's - BTC or USD ? (Read 429 times)