Hello.
I've been trading bitcoin and a few alts to dollar for some time now.
I've never gotten into crypto-crypto pairs. Such as BTC-ETH BTC-XRP... e.t.c.
I was wandering what the main differences are regarding trading, and where to learn about trading BTC pairs.
What I have noticed; Is it's often the opposite of what you expect.
For instance, Litecoin was about to skyrocket recently, and over a Bitmex i went in on the BTC-LTC pair. Litecoin did skyrocket... and I lost a bunch of money as the BTC-LTC pair dropped hard. Presumably BTC went up even more than LTC or something..
I'm curious about the nuances of BTC-crypto trading. Like, often when bitcoin goes sideways, alts go up..... are there any rough rules like this for BTC pairs?
Cheers,
TG
There are no simple rules that you can follow to trade BTC-ALT pairs, if such rules existed at some point you can be sure that people exploited them to the point that they disappeared, the truth is that trading crypto pairs is not different than trading against fiat, the only difference is that you have now two volatile assets trading against each other and instead of looking at profits in fiat you need to look at your profits in terms of BTC.