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I am pretty new to cryptocurrency trading, but since i bought a few bitcoins like 4 years ago (and then forgot i have them), i figured i give it a try. i transfered just a couple of bucks to poloniex an tried to understand the market, which... btw... is totally crazy. Well i did my research on the coins i invested and bought some eth, lisk and dash-coins, holding back a little of my btc which i deposited in lending. i even invested in two icos (waves and rise), to see how that turns out.
Now, i realize i am a noob a these kind of things, but in the last couple of weeks i was part of two btc-price-pushes (one of which is still ongoing), and everyone is going nuts about it. I am feeling like i am missing something here.
So everyone is complaining about loosing money, but i don't really see, why they think they do. The reference currency on poloniex is btc, and bitcoin is currently rising over the top. So, naturally, the prices of other cryptocurrency _compared to bitcoin_ are falling. And everybody started to cry about that. But if someone bought - say - dash two weeks ago with his one bitcoin, and if he would sell it now for gaining 0,8 bitcoins, he still would have the same money, assuming dash did not change in price in reference to the dollar (or euro or whatever). Am i right, or am i missing something?
It is true, that he may now still have 1 bitcoin, if he didn't invest in dash, and this bitcoin would now be worth more money, than it did 2 weeks ago. But i don't get why people are crying, they are ruined, because the cryptocurrency they invested in is dropping in reference to btc.
Can you help me out understanding what i am missing?
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