Bitcoin Forum

Yesterday while the Bitcoin is dropping, I trade almost half of it to ETH. So I made a few profits.
So now that I have ETHs, what are the traders best practices when bitcoin drops.

Should I wait and stay it as ETH until the Bitcoin price become bullish again? Or to trade the ETH to another ALTcoin?
#advicepls

please, answer my question. Do you see the price of ether is down while the bitcoin have got panic sells? So, you can make your conclusion and don't be fooled or panic. just keep them in ether form.

I recommend selling bitcoins when it is dropping and buy it back when it is about to go up. This kind of trading is a bit risky and you should know what you are doing to maximize profit and not have losses. From my observation, when bitcoins go down, all the well traded altcoins go up. So don't wait for your bitcoins to go down and go with the flow of things to profit.

If you buy ETH when the price more lower than now you can sell when you have enough profit, mostly when Bitcoin price down the Altcoin will go up, but I don't think Bitcoin will down much, so don't confuse just calculated all the profit is you think is enough sell or you can sell a half and wait till ETH price more up than now.

Best practices for me is that we should not panic when bitcoins price would tend to decrease and you are right bitcoins price yesterday have dropped almost on $926 as far as i remember but now its already gradually increasing and reaching up again the $1k price. Ive sold some of my bitcoins when i saw its peak price ensuring profits.

At times of decrease the price won't get stick to a fixed price. It reaches a low bottom and gives a gradual increase and then stabilizes within a margin. So at this time should not get panic and should buy few coins if possible which gives a small profit when price becomes stable in a short, same as that experienced from $926 towards $980 right now.

very interesting approach but can you give us some number examples because i can't see how that can be profitable.

because for instance bitcoin price went from $1050 to $950 and that is a 9.52% decline. and today's price is $983 by the time of writing this.
now ethereum at the same time period went from $11.48 to $11.55 and today's price is $11.00

you could have made profit if ethereum went up >9.52% so lets say 9.6% it should have been $12.58 at least!

can you explain to me where the profit is in here?!!

I understands fully that for what you are looking or want idea .
Actually the idea or suggestion you want needed to be some better experience .
Here you need to understand to recover himself from the problem of high fluctuations of bitcoin ( specially in the case of the down of the price with big difference ) .
Suppose you made buy of bitcoin at the rate 1000$/btc now the price is became again $900/btc then again buy a small fraction of bitcoin , if again the price of bitcoin goes down then again make buy of bitcoin in small amount . In this way you will remain in your average of the bitcoin price and can make easy trading without worrying .

You traded it to ETH now it will depend on the price of that. This is a different story now it could take long for the ETH to pump but if there will be no movement for that coin then i suggest you buy back to bitcoin because it is really low now plus Valentines is coming. There will be a lot of online purchases.

Apologized guys am I newbie trader, I thought that ETHs was so bullish yesterday due to it's candle appearance. But I didnt realize what really happened was the bitcoin dropped. Good thing I trade it to ETHS while bitcoin is still high.

don't try too hard to make profit in altcoins while bitcoin price is changing, specially when it goes high. it is a little bit tough.
although it is worth mentioning that some of the altcoins did have a rise yesterday while bitcoin dropped. Eth, Ltc, XMR, XRP are examples of these coins. but if you are arguing about bitcoin price in USD and then want to make profit then you should look at the prices of those altcoins in USD too.
but if you are staying in bitcoin and don't care about fiat values, these could have been profitable for you.

for example Ripple went from ~600 satoshi to ~650 satoshi and you could make 8% profit on your bitcoin in one day.

why you just don't trade with bitcoin? you can easily buy now that the price tanked tnx to chinese exchange, and do a 10% profit when it willr eturn to 1k or wait for a higher pump

altcoin are more dangerous and volatile, i would avoid trading there unless you plan to buy cheap one when they are worth almost nothign and wait for the increase

What happened to eth when the price of bitcoin was dropping? This the question you should ask yourself. The fundamental issued that bring bitcoin price down also affect eth. Because if you study bitcoin and usd graft you will see that is bearish the same with eth and usd. If you keep your eth and sell when bitcoin price is bullish, what if something technical happened to eth and eth keep it bearish trend?

For me must sale your half amount of ETH and invest it into another altcoins that you know will be pump.To dont make much loses.ETH price and Bitcoin price is the same on its unpredictable price movement.

I don't think this is an issue at all, if you are an investors and you are in Bitcoin for long, when BTC dropped it present opportunity to more buy not sell, but if you are a trader you trade the drop and make profit. There is money to be made in any direction a price go

You should've just traded it to your currency. Your endangering your own capital by doing that. What if ETH suddenly go down also? Then you will just regret it and could not do anything. Just buy back with your currency after selling it. Now it is going to be hard to take it back to bitcoin you would need a pump from ETH to enlarge the capital.

That depends on you. You want long term trading? Then bitcoin is perfect for you. Cant say bitcoin is crashing because its still stuck to $900+ and still kicking. The right time to buy bitcoin is when the price crashed. Maybe $700+ is good price to buy or even lower. If you want short term trading. Altcoin is definitely good for you. You can buy cheap coins and dump it when it pumps even just a bit. You could get some profits from it. ETH is good coin. You should buy variety of coins to cover your loses whenever you loss your other coin.

I agree and I think you meant to say either not ether :P
Basically if you buy ethereum while price is doing down then still you will have to wait till btc prices rise because actually ether also are evaluated by bitcoins price and you will get bitcoins by selling eth.

So, best is to keep BTC and keep COOL please and do not panic man. That must be a best practice regardless of how bitcoin prices are doing.

only trade btc

eth is not good, if btc drop then eth will drop too, but if eth drop btc will not,
the supporter of btc is huge

dont waste your money on eth

well it is a good skill to buy when drop and you exchange it to ETH, i would recommended you to just focus to trade bitcoin and ETH, unless you are very confident that the alt coin that you buy is going to make you earn profit, but I suggest you to focus on few coins, don't get too greedy

You can wait till bitcoin will start another up run or you can sell when bitcoin price will remain constant after this correction. When bitcoin price will go up, ETH and other top alts will get dump. So better to wait few more days and make decision according to market move.

In hindsight its always seen that just be patient and wait a bit, I have never seen a price downfall too long and it certainly will rise in coming time. But anyways since you are worried I will suggest you to invest these bitcoins in gambling sites because you will earn like 10-20% easily in weeks and till that time the price will also hike back :)

The oldest truth about trading, buy when there is panic and doubt. Go against the crowd. Don't sell and don't trade BTC when there is decline, buy it.
History will repeat itself every time. After some time FUD with be gone and bitcoin will rebound stronger than before.
Just don't get your emotion get in the way, nothing can kill bitcoin at this point.

Why would you only trade BTC? It's often a good idea to just do what OP did when BTC price drops, though it doesn't have to be ETH.
Just make sure that you choose a coin with enough trading volume and one that's most likely to have an up trend.

Trading with few pairs like 1-2 pairs will do and it is great to make a profit. I can say, Etherum would be better to be trade against bitcoin as bitcoin is dumping and pumping with a huge movement. If you feel bitcoin reach its highest point it is must be, they invest it on altcoins like Etherum then trade it to btc again once btc price drops again. This is how votality in bitcoin must be played.

+1 better practice is to buy more btc when there is drop in price ... so when there will be rise again you will win more.

It is upto you that what profit ratio you wanted it, if the bitcoin sold price and recent bitcoin price have some difference and you are in profit then better to buy back bitcoin by selling ETH if that is also in profit after you bought the price is high then, you are in both the trades profit and now you can buy more then what you sold in bitcoin.

when bitcoin price is dropping you either have to be super fast and sell it on top to be able to buy more bitcoin at the bottom before it comes back up or you have to keep hilding it and forget about selling.

and if you want to make profit from trading altcoins then focus on it separately. it means trading them without paying much attention to bitcoin and its price.

First thing is to realize that profit taking do happen in the financial market every time new and especially psychological price levels is attend. It should not be confused with a sell off, which is a totally different thing altogether. The $1000 per Bitcoin is one such levels and we can expect price to be swinging slightly up and down this level until a fundamental event causes a break out. If you can see it, the market is simply creating opportunities to buy low again and sell high.

One more thing, concentrating on one pair of currency, gives you a better focus and understanding of developments in that market. Jack of all trades, are indeed masters of none

When it comes to trading, call me crazy but I usually buy more when the price is dropping. Going against the flow usually rendered good results for me so far. I follow systematic investment plan which emphasises on placing orders of various quantities at various levels of price. Please do your own research before investing as you might not get the same results as mine.

Im agree with you thats a trading strategy if Bitcoin Price down buy more and if the Bitcoin price recover just sell a little amount of it to get profit on it.

Its up to you actually, if you stay or not. Because for me if the price goes down I will surely buy bitcoin particularly now, I will prioritize buying bitcoin, altcoin is just secondary to me. Because has more higher value than any altcoins. so at at least if ever the value get increase you can sell some few of it for you to enjoy anyway the fruit of your labor.

Bitcoin is the most valuable among all and no altcoin could able to surpass that which means we should mainly focus on this one.Agree, it does really depend on a person if he tends to stay or decide to panic sell when bitcoins price tend to go down and as we all know bitcoins price do normally recover after a certain crash.

That isn't crazy as you are actually working with some laid down plan and calculations. You're in fact, implementing, the averaging strategy, which is a sound technique for any asset with some volatility. Knowing the average daily range of the asset helps one in determining the next level to place another trade, in case the first or earlier trade didn't go well and after a few of such trades, price most likely reverses, as no market continues indefinitely in any one direction.

Anyone interested in try this technique must first ensure they have good enough balance to cushion the extended exposures and it is not suitable for all assets.

Investing in ETH would not be as productive as bitcoin.
The prices have been constant for many months. Well it's new but has no future. On the other hand monero XMR has grown .
It's increasing slowly.
You can even buy that. That's seems to have some future.
But there is no competition for bitcoin. Bitcoin is in the next level.
And I am a proud bitcoiner aka bitcoin user.

Yes exactly, price averaging strategy. I strongly follow warren buffet's principles of trades. He says, 'Be Fearful When Others Are Greedy and Greedy When Others Are Fearful'. This proves extremely helpful in trades especially in the case of pump and dump schemes. I have seen many people lost their money by following other's opinion and chanting in the troll box. I usually stay away from such shouting place and never follow other's opinions without proper research.