BTC dropping hard, buying Alts or not?


#1

I feel bad for posting so many nooby questions, but it’s a been a rough month, and this seems like the only place to get good answers! I hope soon to be able to contribute more as I learn more :slight_smile:

BTC is dropping, the whole market is going down with it, some coins more than others. During this whole correction, some coins have held much more steady or even gone up, like ICX, NEO, VEN, WTC etc.

I bought BTC at 15k. I am wondering what would be the best time, if any to put some more into these seemingly stronger alts. Or is it better to hang tight and hope BTC recovers a bit first, and then buy alts as they will likely be lower? I’ve got myself a bit confused with it all, traded too much trying to gain control where perhaps its not possible and lost more than I should have.

I have more confidence in Neo and ICX than BTC right now, but maybe thats just being fooled by the charts as theyve recently done better. That could all tuern around I gues

Any advice appreciated, and hopefully it can help others in my position :slight_smile:


#2

If you spend 100 at 15,000 and 100 at 10,000 you break even at 12,500 instead of 15,000. Just sayin.


#3

Get some icx it will take care of you. N don’t worry about btc being s little low give it another couple weeks n btc should be past your previous buy price and start making you money but if your looking for those sick gains… ICX


#4

Thanks guys. Yeah unfortunately I got all my money in just before the crash at 15k average, and it was a lot more than a few hundred dollars! So I cant put more in really, which is the salt in the wound

I would love to get some more ICX!

I’m just confused mainly about the ideal time to buy ALTS from BTC in a situation like this? Obviously when they are cheaper in Satoshi value, but that would happen when BTC is stronger, but then the Alts seem to be even stronger when BTC recovers. Any tips on when to make these trades?


#5

Take a few weeks to from this site and crypto in general. Come back on Valentine’s. Things should clear up a bit more.


#6

That is my plan, I need a break! But could anyone answer the question above, about timing when buying into alts when the market is as it is at the moment?


#7

As you said, look at the Satoshi value when buying alts. If you’re down on Bitcoin and have no more fiat I would probably wait until btc recovers. If you feel confident an alt will increase a lot in value in the near future you can change to that, but it’s a gamble.


#8

Thanks yeah that what I was thinking.

Also worried about this whole Tether thing. Do you guys think it is more FUD in the headlines, or do you think it could really bring the market down massively?

Because I’m deep in the red already with ‘real money’ its hard to imagine the market going to next to nothing, and me having to wait years to get even back to my buy in price. I think the emotional/mental side of that would make it a horrible time! I know everyone says dont worry about it, but its easier said than done

I also read that if Tether goes down, it shouldnt affect the market too much, but could be a self fulfilling prophecy. I just dont know what to believe


#9


#10

did i miss yesterdays sale? i feel like another is coming this weekend…


#11

First, I would suggest holding your BTC, because what happened was a market correction, which usually gets followed by growth.

Second, altcoins are usually depending on the BTC price, if it goes down, alts also do, and vice versa. Thus, I don’t think that can benefit from selling your BTC and buying altcoins.

Just hold your BTC and wait, because BTC is expected to have a significant growth this year!

Good luck!