Hey guys,
I've been acquainted with cryptocurrencies for over a year now, invested in long term for over 6 months but recently decided to start diversifying my portfolio through daily trading. I have a question though.
If I want to buy a coin that I know is going to raise in value, should I: 1. Buy the coin with another coin that is giving a bearish signal 2. Buy the coin with another coin that is strong right now and that I made profit in
I use Binance as my exchange, and most trading pairs are with Bitcoin. Therefore, it is the coin I will be using the most to buy altcoins with. However, I don't want to liquidate all of my bitcoin assets because I want to stay invested in Bitcoin regardless. So, I would sell some of my other altcoins for Bitcoin and use that BTC to buy the alt.
Let's say I want to buy XRP:
1. I can sell some of my LTC into BTC, and from there buy the XRP. LTC is currently in a weak phase, so thus I don't mind getting rid of some of it.
2. I can sell some of my ETH into BTC, and form there buy the XRP. ETH is currently in a strong phase, so I already made profits and I don't want to get rid of a coin that is weak because it is bound to strengthen again.
Which of the two seems to be a more logical approach?
Thanks guys
PS. Please feel free to tell me any ebooks or whatever I can read to further my knowledge in the trading market.
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