Bitcoin Forum

Hi, I am a newbie, i just want ur opinion. Yesterday when i saw bad news about China, i knew that Bitcoin and other altcoins will drop. So I changed all my altcoins into Tether on Bittrex and then i plan to buy again at lower price when the market will be stabilized. What do you think? Do you have other way to limited your loss when you know that everything will go down? Thank you

I think yesterday was too late to be selling. The idea is to sell the highs, so that was 2 weeks ago. Now looks like a good spot to start buying back in, buy the lows don't sell them.

Short against port is one of essential solution.

Buy USDT and then sell it when the price are lower.

If you know that the price of the coin will fall, you should just buy as many top 10 big coins in the coinmarket as it will surely rise.

Yes, selling BTC and altcoins to Tether when BTC and altcoins’ prices are falling seems to be the best way to limit losses.  The other way is to sell BTC and altcoins for fiat, but it is more expensive (transaction fees and exchange fees to fiat) and time wasted to transfer from your exchange to bittrex.

that is a very good plan, specially if you acted fast before the drop not near the end of the drop. but also using tether (USDT) is risky because that can also drop hard. imagine if everyone else were doing the same thing as you did and sold everything they had slowly to buy USDT. when the bottom is reached and recovery starts they will dump USDT to buy back things they sold and USDT will drop hard because of sell pressure.

I sold my btc earlier before dump.No way i buy tether usdt.

That is the problem with most of this newbies, they always do the opposite of what a goof trader should do, I think this is the time to start buying not selling, alot of panic sell in the space now, I still believe we will have another bull run before the year runs out

I prefer to wait this not good days in crypto in fiat. But it's concerns only BTC and ETH. Altcoins is deep down and it is late to sell them, just hodl!

Regardless of the markets overall, there has still been some opportunity to trade profitably on the exchanges. Not nearly as much activity as I like, but still making headway. In for the long haul, I don't flinch at headlines anymore.

That was a best choice. I just convert my token to the fiat amount and i was selling around 10 bitcoin at the price of bitcoin was in the ath. You must wait until there is a signal to buy back from the market again.
USDT is the best planm for this current situation.