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RE: Want to take your BTC profits and sell them? This simple trick will save you time and money!
Very clever tips @kingscrown. Sadly there is no ltc-fiat exchange in my country. Here is what i am doing. Knowing fully well that btc downwards spiral is coming, i am buying usdt with btc on poloniex. That way, when the spiral happens i have more btc and can cash our with less transaction fee. I am just having to hold my btc as i cant loose much to transaction fee.
If BTC crashed, it will crash other coins as well.
You think all these new found love of crypto from newbies like me will linger after BTC has crashed.
If for some reason BTC crashes, lot of people will get out of crypto all together as these people are in it to see their money doubled, none of them have even used BTC or other coins for their intended use. So I would stick with BTC for now.
I often get the sense that 50% of the volatility in the market comes from first time buyers who get nervous once they see even the tiniest downtrend.
I completely agree. There are lot of new comers in the market driving crypto market.
There are three coins that almost every single new person on Crypto buys are BTC, ETH and XRP.
If BTC crashes they will lose confidence in cryptocurrency and will move out all together.
i am agree with you. BTC is considered the first entrance into crypto world. Most newbies need it to buy their first crypto. If it crashes, other coins are hardly to survive.
Not necessarily, they would move funds from bitcoin to altcoins like when china fud happened and bitcoin tanked alot of alts did pretty good.
I remember Ether and Litecoin dropping quite dramatically when China banned bitcoin. My Litecoin halved their value. Looking back, I wish I bought more in the dip...
I think long term BTC holders and traders aren't going anywhere and the newbies will be back. If it crashes there are lots of folks waiting to buy more.
I have to agree with you. It's tough to say it's crashing after I've been wrong about it so many times, but the fact that people will be able to short it next week makes me think there will be a definite drop.
A drop would be nice, as long as it's not permanent. It would give us the opportunity to accumulate more Bitcoin, and convince new buyers that the price always bounces back up.