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Title: How does one know a good time to exchange BTC for LTC or vice versa. Post by: stormlight on December 04, 2013, 01:35:14 AM How can one know when a good time is to exchange BTC for LTC or vice versa.
I find the concept confusing since its not like exchanging BTC or LTC to USD. USD always is the same. i always know that 1 BTC or 1 LTC = x dollars However both BTC and LTC move around so much you have 1 BTC going up and down and 1 LTC going up and down. Any teachers out there that could give me a quick lesson? Title: Re: How does one know a good time to exchange BTC for LTC or vice versa. Post by: hieroglyph on December 09, 2013, 08:04:52 PM I'm no expert but I'd say you should have a sense of what you think the prices should be realistically and where you think the market will go in the short to midterm. You should also learn how to trade and get a great understanding of how the markets work so you can plan ahead when changes take place.
Title: Re: How does one know a good time to exchange BTC for LTC or vice versa. Post by: bendoe on December 09, 2013, 08:12:41 PM How can one know when a good time is to exchange BTC for LTC or vice versa. I find the concept confusing since its not like exchanging BTC or LTC to USD. USD always is the same. i always know that 1 BTC or 1 LTC = x dollars However both BTC and LTC move around so much you have 1 BTC going up and down and 1 LTC going up and down. Any teachers out there that could give me a quick lesson? Unless you have special knowledge or insight, you will not be able to accurately predict the relative prices of Litecoin and Bitcoin. If there was a well-known formula for predicting that Litecoin will soon be worth .04 BTC, then the price would already be at .04 BTC as everyone followed the formula. Trying to predict the relationship between two EXTREMELY volatile assets is a very bad idea. Trying to time this market is simply gambling and I would strongly urge you not to start down this path, ESPECIALLY with money you cannot afford to lose. |