I'm a relatively newbie to cryptos and investing but with the recent sky rocketing of bitcoin I've noticed a lot of alt coins decreasing. Some even down to 50% in one week, would now be a good time to invest in the alts if bitcoin were to see a crash in the foreseeable future?
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Alt coins question
- Thread starter SpyDIR
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I suggest you look at the patterns/charts of previous years to conclude the decision yourself. Look at when btc drops and when alts drop, then conclude whether there is a correlation. Simple research being done by yourself is better than another person's opinion.
Depends what rate of exchange you are looking at - is it COIN/USD or COIN/BTC or COIN/ETH? If you are looking at COIN/BTC and Bitcoin increases significantly, it doesn't necessarily mean the value of the coin has decreased by that amount against say USD. It is also good to check the coin's market cap rate of change to make an informed decision. As for alt coin investment advice, do some research and read through some experiences on https://platinumwealth.co.za/forum/
The cryptocurrency markets are volatile and investment risk is high, so don't invest funds which you aren't willing to lose. Not saying you will, just be aware of it.
So I've been following this as we're busy working on a Token Sale. Altcoins are easily manipulated by movements in BTC. Right now with all the buzz more volume seems to be flowing out of Alt's into BTC which may make many coins seem as if they're losing value. Do your homework, choose the coins you want to buy and your target price, then hold them until sanity returns ;-)