Bitcoin Forum

I am having trouble understanding how profit works on Altcoins. If I buy an Altcoin at a certain BTC price when BTC is high but then BTC plummets and the coin goes up or down how does the profit work? Do you profit at all when BTC goes down regardless of what you purchased the Altcoin for?

You can profit or even make loss depending on the movements of both Bitcoin and altcoin prices. I usually prefer looking at my profits/losses in USD rather than in BTC because Bitcoin price is usually changing so it's hard to track the profits or loss in BTC.

I would recommend you to use profit/loss tracking apps or portfolio management apps such as bituniverse, Delta or 3commas. It makes the job easy looking at how you are progressing.

This is how I also look to my profits too when I trade alts but, some traders do follow the satoshi pricing and that's how they calculate their profits.

It will really just vary on what you are trying to accumulate since from the start it would be either BTC or USD. If you do look for fiat profit then it wouldnt matter if btc price or alt price would soar up or dump down as long you do see your portfolio is gaining up thats why its always important to have a tracker.In my case ive been using Blockfolio app on checking out my holdings
and ive been doing this for years and when the time i do able to gain in terms of fiat then i would definitely sell out and then re-buy when the price had gone down once again.
Rinse and repeat as long you can earn money then you're doing good.

That's also what I'm doing but I'm productive this time as you know there's more to spend for needs than buying power. I have also used blockfolio and it's a very useful tool to help you keep on track.
Bitcoin's down, it's another good time to buy it before an alt.

usually if bitcoin goes down, altcoin prices will go up in bitcoin exchange, in contrast to USDT, maybe you can learn firsthand about how to trade on this forum. but I often use USDT instead of bitcoin to buy altcoin

The calculation of your profit should be based on the performance of the altcoin that you are holding in your portfolio. Say for instance, if you bought  MATIC for a certain amount of BTC, depending on the market movement of bitcoin, your profit will be based on the movement of MATIC on the exchange. At the point if profit calculation, the market price of BTC don't matter except you're converting to BTC first. It is best to calculate against USD. It's safer and easier

Its like a pendulum clock to know when profits are and will be made; but its actually possible and achievable. The volatility of this cryptocurrency space make it somewhat difficult to predict with accuracy and precision. However the role or technical and fundamental analysis cannot be overemphasized.

The price of altcoin is not  always related to bitcoin price .

The calculation for profit is not base in btc  value but in USD you need to always look in USD value and check if you have profit alread.y even they are less than the amount you bought it in btc value you can still get profit if you calculate it in USD.

You need to know that the movement of bitcoin and Altcoins sometimes opposite.

I agree, it is not always that BTC and other altcoins go hand in hand sometimes the opposite because this is a fluctuating market, and besides that you should always regularly check the activity of altcoin prices in the market, it is better before selling checks also the value of the USD to further maximize profits You.

It depends on what profit you are looking for. Is it fiat you are accounting or is it BTC. Most of my short term investment focus is to increase my BTC. If I get higher BTC than my invested amount, no matter what the price in fiat is. I will take the profit despite BTC price against fiat is low.