Holding Alts could become costly
So in the last few days bitcoin has really taken off and showing very bullish signs. The marketcap in general has been in a upswing and everyone is happy, but there is a problem. Bitcoin has been going up in price so in turn so has the fiat price of altcoins, but has anyone looked at the satoshi prices?
Alts have been losing satoshi throughout this run and though there fiat prices look good, their conversions back to bitcoin will not. Also this is a problem becasue bitcoin will correct, and being that the altcoin satoshi prices did not rise they will be hit even harder.
Keep this in mind when trading Alts this season.
My Alts are outperforming bitcoin by a few % points! Steem, Golem, and BAT are just a few. The Bitcoin ETF approval could be good for Alts, also coinbase could list Golem and BAT.
When? Been watching most of the day and they have been in the dumps.
Lumens and Cardano are thankful beating the trend in this case. But it is certainly true that coins loose Satoshi when Bitcoin rises. Although I have noticed before that once Bitcoin settles, alts tend to catch up both Dollar and Satoshi wise
True, but this round seem a bit different. Btc could come back down and wreck Alts further.
This is something I need to pay closer attention to.
It’s really important. Take today for example, Alts are losing sats like crazy but gaining in fiat price.
YeH I need to beef up on these kinds of things in other to be a more productive investor.
We all have to go through the learning curve. Key is to be willing to learn.
Learning on the fly day by day.
Alts are definitely risky right now..
But I just can't help myself. Had to get me some ELA on Kucoin! :S
I have been holding firm from buying in. I don’t think we have seen Alts bottom yet
I agree, but I think the whole market (including Bitcoin) hasn't bottomed yet.
Still, I've learned to get into projects early. Time in the market vs timing the market.
All i trade is alt's.
Throw in some btc and I bet you earn more.
I don't know..there is more to be made on alt's.
I noticed that also. Right now Bitcoin's dominance is at about 43% which is way higher than the thirty something we had a few months ago. I think that generally is Bitcoin that leads a rally and "the first money" to come are thrown at it and then people and institutions start selling it and buy alts growing them in price also. For the moment though its dominance is huge and I think it will remain on these levels for some time. I am not a trader thus I don't care that much about satoshis on my altcoins.
Institutional money won’t be flowing to many Alts. They will be strictly adhering to btc. Also if you ignore satoshis wether you are a trader or not, you will get burned.
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@crypto2crypto thanks, your post is very informative. sir