Hi @libertyteeth, as a haeijin's student, What do you do with your alts when BTC starts its up rally and "as usual" most of the altcoins go down?
I know haejin said both will be going up this time, but still few days ago we saw a lil bit dip on bitcoin's "fake" run. So how do you handle these situations?
Let's say the technical analysis says that DGB for example is going up, then BTC starts running and DGB drops and drops and drops. So what do you do?... Does it mean technical analysis was wrong, or it is gonna go back up just like predicted by technical analysis and therefore you keep it?
Thanks
Many of us are of the opinion that we will see very soon, if we are not seeing it this time around, a run of both alts and btc in tandem from the start. Personally I am on the fence on this run, which lends to thinking it will revert back to the alts down, btc up, then go phasic together again. Although I will say that if that is the case, I think alts will only be down for a very short time before they start back up with btc. There is a tonnnn of money coming in, and people learning about all the markets. Coinbase is very backed up which is a good thing for money coming into the market. More money in, the more widespread the investments will become.
Previously, I would have said yes, the alts will certainly fall quite a bit before returning to phase with btc, but this is the closest we've seen to a full tandem run yet! It might happen this time, and if not, I think the next run after 5 waves up.
Thanks a lot for sharing your thoughts! highly appreciated!
" More money in, the more widespread the investments will become"
It actually makes sense... More money flooding into crypto world can very likely alleviate the BTC-Alts pendulum syndrome !!!
So I think for now we'll have to wait for the real phasic run to happen before picking our long term investments..
I invested in LTC and it is having a hard time going up.. I still get annoyed when I am in a trade like this watching other coins explode and I am sitting there and waiting...
Patience is the key I guess...
Patience -- and, not using all your dry powder! :) In other words, try to keep a percentage "in reserve" and don't make trades with it -- that way, you'll be able to take advantage of quick moves, like the TRX yesterday -- I captured 60% of its movement, which is awesome for a couple hours.
I'm actually thinking that if BitConnect and similar competitors do this type of trading, then it is entirely possible that they aren't scams. Still, not trying them again!
When that happened last week, I just held. I had the thought to sell before the predicted rise, and would have increased my BTC had I done so.
Also, this recent predicted dip from 20k to 11k, I considered selling all BTC savings for USD, then buying back -- had I done so, I probably would have increased my coins 25% or so (I almost never hit the peaks, and with laddering you're "guaranteed not to").
I'm still learning myself! :) But last month was an awesome practical application of lessons. :)
thanks a lot for your detailed answers! I wish you best of luck!
Keep steeming generosity!