Due to BTC hard fork, most altcoins are decreasing for weeks.
After last forks, people think they can make money. I don't think it's possible this time, but that's not my point.
While market cap remained constant, many people transferred altcoins into BTCs.
Now my question is, do you believe this trend will go into reverse?
I'm quite sure BTC decrease sharply after fork, but will altcoins increase or market cap decrease?
Glad to hear your opinions!
This hardfork has been quite profitable for me, I'd say it depends on strategy more as that it rely's on up/down. You need movement in a market to make money, up and down both will do. Also got to snatch some coins that would else be to expensive.
But for your question:
- I believe that some coins might not fully recover
- Think altcoin market cap will see some gains yes.
Basically this. For example, before the last "crash" (china), doge was riding a high wave, sitting at 200 mil $ marketcap. It now sits at half that, even though most alts recovered, at the very least partially. Think hard about buying dips because they might not go up again, at least for a while.
Sorry, but most coins didn't recover, which is due to the upcoming hard fork I guess. So which coins do you mean when you say 'most alts'?
I agree that some coins might not completely recover, but if you buy now, any kind of recovery will result in a profit.
BTW: Should have mentioned that all my altcoins are currently between +100% and + 2,000%, so we are not talking about losses, but about maximizing profits.
Of course I also thought about switching my alts into BTC, but as I don't believe this fork will allow big profits, I didn't.
My question should have been 'Is it a good day to extend your altcoin portfolio?'