Buying ETH instead of shorting BTC - good idea?

[zby]

I have always been anxious about shorting BTC - now it seems that ETH is reversely correlated with BTC - so longing ETH is a good substitute for shorting BTC. Of course the correlation is just temporary, that is the point, at some point BTC will bounce back for good, and I hope that ETH will not dive too much on that occasion.

[cengsuwuei]

i think is good idea, if bitcoin price down, and lost money, bitcoin can replace asset buy altcoin
and trade in there, and wait bitcoin incraese price again

[The Sceptical Chymist]

I probably wouldn't short bitcoin right now, as we might be rebounding past the point where it's profitable to do so.  But who knows.  Buying ETH?  Nah, I think it's a garbage, overhyped coin that's already seen its best days.  If you do either one, just don't risk too much dinero doing it.

[zby]

yeah - it looks like right now we are rebounding - so I'll save the idea for the next time.

[AT101ET]

ETH has been having a good run lately but I think another correction is on the way. If you're in it for the short haul then I'd say wait it out until the price corrects itself. That way you can hold out until the next bubble before selling.

[lumeire]

yeah - it looks like right now we are rebounding - so I'll save the idea for the next time.

It's not entirely too late to do shorts now, it's still on the early rebound phase IMO.

[Seansky]

I think it is too early to begin shorting BTC this time since it looks like btc is recovering from the recent fall that have happened. If I would short BTC though I wouldn't even consider buying ETH but instead I will buy other reputable altcoins like DASH, MONERO, and many more not ETH since it is just a smart contract, not a real crypto-currency. I would also consider buying some few new altcoins though to profit.

[quake313]

ETH and other alts that have been recently pumped will most likely crash VERY hard when either the scaling wars are over or BTC rockets up over $1300, which ever comes first.

[Herbert2020]

if you think it is a good idea and you can actually make money, test it and then go for it. don't hesitate.
but the problem with ethereum and generally altcoins is that their movements are nearly unpredictable and it gets more and more unpredictable the more they are pumped. and we all know ETH has been pumped real hard and that means investors would want their money out soon which can potentially make everything unstable.

[layoutph]

Go with the flow dude. This what the whales are doing now, they sell their bitcoin and buy eths. Have you seen the ETH volume now in polo its already 100k, while Dash is only 17k.
Soon there will be a wild pump and dump for ETHs , it might reach 100usd.