Some altcoins I have been watching have been hitting some pretty low low’s (BTC price) and I was wondering what the right strategy would be to get into ADA and some other projects from BTC. A bunch of different scenarios’ play out in my head. If/When BTC corrects what will alts do, I wonder? Will people move their BTC into their favorite Alts to preserve their BTC? Will they just sell BTC for fiat and exit leaving alts to be effectively nothing? Should you wait until you feel like BTC is at a good entry point (2.5k - 6.5k IMO) to then also get a position in alts? My gut says now is a good time to move into alts. So enough with my blabbering, what do you think?
Everyone is crapping on alts because BTC is getting all the love right now. Last time this happened, alts were stagnant while BTC rose and then they 5-10x-ed in 14-60 days while everyone went crazy over them.
Everyone is crapping on alts because BTC is getting all the love right now. Last time this happened, alts were stagnant while BTC rose and then they 5-10x-ed in 14-60 days while everyone went crazy over them.
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If you’re looking to accumulate BTC in hopes that it will keep rising in value and recover after after crashes, you have to make sure you’re looking at your profits or losses in BTC and not USD. I use Blockfolio app to keep track. You have to add the transactions in manually which is a little bit annoying but I heard that they’re working on updating the app so that it can integrate API from the exchanges. jiofi.local.html snaptube for pc
It’s been a while since someone posted on this topic so I would like to share what I like to do. Yes ADA and BTC are closely correlated. I tend to see if BTC jumps up then ADA will shortly follow. Sometimes BTC pops up and ADA doesn’t. I tend to believe BTC will eventually drop back down. I like to think of it as both price actions are tied together by a rubber band. If one moves in one direction, then the other will follow. If it goes too far in one direction and the other doesn’t then it will eventually bounce back. So I usually swap to BTC when the ADA/BTC price is high. And when the ADA/BTC price is low I swap to ADA. Just sharing my thoughts. It was hard to find a chart that would display the DXY, SPX, ADA/USD, BTC/USD and the ADA/BTC charts all together. So I made this dashboard to display them all together. https://caringforcardano.com/CarinDashboard