Best practices to do or trade while bitcoin is dropping

[~Bitcoin~]

Should I wait and stay it as ETH until the Bitcoin price become bullish again? Or to trade the ETH to another ALTcoin?
#advicepls

You can wait till bitcoin will start another up run or you can sell when bitcoin price will remain constant after this correction. When bitcoin price will go up, ETH and other top alts will get dump. So better to wait few more days and make decision according to market move.

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[upsidedown75]

Yesterday while the Bitcoin is dropping, I trade almost half of it to ETH. So I made a few profits.
So now that I have ETHs, what are the traders best practices when bitcoin drops.

Should I wait and stay it as ETH until the Bitcoin price become bullish again? Or to trade the ETH to another ALTcoin?
#advicepls

In hindsight its always seen that just be patient and wait a bit, I have never seen a price downfall too long and it certainly will rise in coming time. But anyways since you are worried I will suggest you to invest these bitcoins in gambling sites because you will earn like 10-20% easily in weeks and till that time the price will also hike back

[maku]

The oldest truth about trading, buy when there is panic and doubt. Go against the crowd. Don't sell and don't trade BTC when there is decline, buy it.
History will repeat itself every time. After some time FUD with be gone and bitcoin will rebound stronger than before.
Just don't get your emotion get in the way, nothing can kill bitcoin at this point.

[eternalgloom]

only trade btc

eth is not good, if btc drop then eth will drop too, but if eth drop btc will not,
the supporter of btc is huge

dont waste your money on eth

Why would you only trade BTC? It's often a good idea to just do what OP did when BTC price drops, though it doesn't have to be ETH.
Just make sure that you choose a coin with enough trading volume and one that's most likely to have an up trend.

[jovs]

well it is a good skill to buy when drop and you exchange it to ETH, i would recommended you to just focus to trade bitcoin and ETH, unless you are very confident that the alt coin that you buy is going to make you earn profit, but I suggest you to focus on few coins, don't get too greedy

Trading with few pairs like 1-2 pairs will do and it is great to make a profit. I can say, Etherum would be better to be trade against bitcoin as bitcoin is dumping and pumping with a huge movement. If you feel bitcoin reach its highest point it is must be, they invest it on altcoins like Etherum then trade it to btc again once btc price drops again. This is how votality in bitcoin must be played.

[ptiper21]

+1 better practice is to buy more btc when there is drop in price ... so when there will be rise again you will win more.

[equator]

Yesterday while the Bitcoin is dropping, I trade almost half of it to ETH. So I made a few profits.
So now that I have ETHs, what are the traders best practices when bitcoin drops.

Should I wait and stay it as ETH until the Bitcoin price become bullish again? Or to trade the ETH to another ALTcoin?
#advicepls

It is upto you that what profit ratio you wanted it, if the bitcoin sold price and recent bitcoin price have some difference and you are in profit then better to buy back bitcoin by selling ETH if that is also in profit after you bought the price is high then, you are in both the trades profit and now you can buy more then what you sold in bitcoin.

[RoommateAgreement]

when bitcoin price is dropping you either have to be super fast and sell it on top to be able to buy more bitcoin at the bottom before it comes back up or you have to keep hilding it and forget about selling.

and if you want to make profit from trading altcoins then focus on it separately. it means trading them without paying much attention to bitcoin and its price.

[Victorycoin]

please, answer my question. Do you see the price of ether is down while the bitcoin have got panic sells? So, you can make your conclusion and don't be fooled or panic. just keep them in ether form.

First thing is to realize that profit taking do happen in the financial market every time new and especially psychological price levels is attend. It should not be confused with a sell off, which is a totally different thing altogether. The $1000 per Bitcoin is one such levels and we can expect price to be swinging slightly up and down this level until a fundamental event causes a break out. If you can see it, the market is simply creating opportunities to buy low again and sell high.

One more thing, concentrating on one pair of currency, gives you a better focus and understanding of developments in that market. Jack of all trades, are indeed masters of none

[Dudeperfect]

When it comes to trading, call me crazy but I usually buy more when the price is dropping. Going against the flow usually rendered good results for me so far. I follow systematic investment plan which emphasises on placing orders of various quantities at various levels of price. Please do your own research before investing as you might not get the same results as mine.

[dawnasor]

when bitcoin price is dropping you either have to be super fast and sell it on top to be able to buy more bitcoin at the bottom before it comes back up or you have to keep hilding it and forget about selling.

and if you want to make profit from trading altcoins then focus on it separately. it means trading them without paying much attention to bitcoin and its price.

Im agree with you thats a trading strategy if Bitcoin Price down buy more and if the Bitcoin price recover just sell a little amount of it to get profit on it.

[kidoseagle0312]

Yesterday while the Bitcoin is dropping, I trade almost half of it to ETH. So I made a few profits.
So now that I have ETHs, what are the traders best practices when bitcoin drops.

Should I wait and stay it as ETH until the Bitcoin price become bullish again? Or to trade the ETH to another ALTcoin?
#advicepls

Its up to you actually, if you stay or not. Because for me if the price goes down I will surely buy bitcoin particularly now, I will prioritize buying bitcoin, altcoin is just secondary to me. Because has more higher value than any altcoins. so at at least if ever the value get increase you can sell some few of it for you to enjoy anyway the fruit of your labor.

[dunfida]

Yesterday while the Bitcoin is dropping, I trade almost half of it to ETH. So I made a few profits.
So now that I have ETHs, what are the traders best practices when bitcoin drops.

Should I wait and stay it as ETH until the Bitcoin price become bullish again? Or to trade the ETH to another ALTcoin?
#advicepls

Its up to you actually, if you stay or not. Because for me if the price goes down I will surely buy bitcoin particularly now, I will prioritize buying bitcoin, altcoin is just secondary to me. Because has more higher value than any altcoins. so at at least if ever the value get increase you can sell some few of it for you to enjoy anyway the fruit of your labor.

Bitcoin is the most valuable among all and no altcoin could able to surpass that which means we should mainly focus on this one.Agree, it does really depend on a person if he tends to stay or decide to panic sell when bitcoins price tend to go down and as we all know bitcoins price do normally recover after a certain crash.

[Victorycoin]

When it comes to trading, call me crazy but I usually buy more when the price is dropping. Going against the flow usually rendered good results for me so far. I follow systematic investment plan which emphasizes on placing orders of various quantities at various levels of price. Please do your own research before investing as you might not get the same results as mine.

That isn't crazy as you are actually working with some laid down plan and calculations. You're in fact, implementing, the averaging strategy, which is a sound technique for any asset with some volatility. Knowing the average daily range of the asset helps one in determining the next level to place another trade, in case the first or earlier trade didn't go well and after a few of such trades, price most likely reverses, as no market continues indefinitely in any one direction.

Anyone interested in try this technique must first ensure they have good enough balance to cushion the extended exposures and it is not suitable for all assets.

[ReLieD]

Investing in ETH would not be as productive as bitcoin.
The prices have been constant for many months. Well it's new but has no future. On the other hand monero XMR has grown .
It's increasing slowly.
You can even buy that. That's seems to have some future.
But there is no competition for bitcoin. Bitcoin is in the next level.
And I am a proud bitcoiner aka bitcoin user.

[Dudeperfect]

When it comes to trading, call me crazy but I usually buy more when the price is dropping. Going against the flow usually rendered good results for me so far. I follow systematic investment plan which emphasizes on placing orders of various quantities at various levels of price. Please do your own research before investing as you might not get the same results as mine.

That isn't crazy as you are actually working with some laid down plan and calculations. You're in fact, implementing, the averaging strategy, which is a sound technique for any asset with some volatility. Knowing the average daily range of the asset helps one in determining the next level to place another trade, in case the first or earlier trade didn't go well and after a few of such trades, price most likely reverses, as no market continues indefinitely in any one direction.

Anyone interested in try this technique must first ensure they have good enough balance to cushion the extended exposures and it is not suitable for all assets.

Yes exactly, price averaging strategy. I strongly follow warren buffet's principles of trades. He says, 'Be Fearful When Others Are Greedy and Greedy When Others Are Fearful'. This proves extremely helpful in trades especially in the case of pump and dump schemes. I have seen many people lost their money by following other's opinion and chanting in the troll box. I usually stay away from such shouting place and never follow other's opinions without proper research.