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Author Topic: What if bitcoin crash, could you put your money in another currency to be safe?  (Read 1777 times)
WorldClassic
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March 08, 2017, 07:06:13 AM
 #1

For example, if bitcoin is going to crash and I exchanged it into $1200 Ethereum lets say. And it goes down to $800 USD, will the Ethereum value go down?

Could you exchange your bitcoin into another currency to be protected from a crash?
I think Coins like Doge, LTC , USDCOIN all of these are 99.9% stable always in the same price, 0.01% prob that you are very very very unlucky and it drop when you buy but I don't think it will happen.

What do you think ?
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March 08, 2017, 07:10:00 AM
 #2

I think people should not trade BTC unless they know the market. ETF approval s always been big time dubious and this shorting of Bitcoin positions is something to be expected. Yes, it will go down, bellow 1000. Whether it ll go all the way to 800, not sure, but this is quite possible.

So, yes, if I had any significant BTC positions, I d switch to Factom since that one is way below it s average market price. Etherum s been pumped recently so I really do not expect much there in terms of price growth.

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March 08, 2017, 07:24:57 AM
 #3

Do nothing, because the price will rising back.
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March 08, 2017, 07:29:58 AM
 #4

the recent small crush is nothing that we have not already seen in the past, if you are worried because bitcoin tanked by $10 then it's better if you leave bitcoin, because this kind of swings will always be there no matter the adoption size

and frankly speaking putting your money on any alt is far more dangerous, their swings are soemthign like 100%+, bitcoin in comparison is very stable...
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March 08, 2017, 07:30:57 AM
 #5

For example, if bitcoin is going to crash and I exchanged it into $1200 Ethereum lets say. And it goes down to $800 USD, will the Ethereum value go down?

Could you exchange your bitcoin into another currency to be protected from a crash?
I think Coins like Doge, LTC , USDCOIN all of these are 99.9% stable always in the same price, 0.01% prob that you are very very very unlucky and it drop when you buy but I don't think it will happen.

What do you think ?

For bitcoin I 100% believe that the losses that I got this now (when buying a bitcoin later the price down) is something that will surely give me an advantage in the future. Because the price of the bitcoin is not stable and will certainly culminate in a very large price increase, so when the price of the bitcoin down then I would keep it and wait until the price goes up again. Because I see a maximum price limit bitcoin down 4 years after the Ascension (Ascension of the difficulty level of mining). you need to know, that the losses in the bitcoin is only temporary and in the future for sure you will get a bigger profit (if you are impatient)


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March 08, 2017, 07:40:37 AM
 #6

For example, if bitcoin is going to crash and I exchanged it into $1200 Ethereum lets say. And it goes down to $800 USD, will the Ethereum value go down?

Could you exchange your bitcoin into another currency to be protected from a crash?
I think Coins like Doge, LTC , USDCOIN all of these are 99.9% stable always in the same price, 0.01% prob that you are very very very unlucky and it drop when you buy but I don't think it will happen.

What do you think ?

Actually this is one way of preserving the current USD value of your holdings.  As far as I know ETH and other altcoins are independent from Bitcoin price, so whenever Bitcoin price goes stronger, if the altcoins cannot go up with the BTC increase, then they will be less in BTC.  Sometimes they are inversely proportional.

About the drop in price, there is always a possibility that there is a drop in price in altcoin during the conversion.  We cannot avoid that.  But sometimes we can profit from the conversion if we manage to convert before the market price go against our holdings.


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March 08, 2017, 07:50:32 AM
 #7

For example, if bitcoin is going to crash and I exchanged it into $1200 Ethereum lets say. And it goes down to $800 USD, will the Ethereum value go down?

Could you exchange your bitcoin into another currency to be protected from a crash?
I think Coins like Doge, LTC , USDCOIN all of these are 99.9% stable always in the same price, 0.01% prob that you are very very very unlucky and it drop when you buy but I don't think it will happen.

What do you think ?

if bitcoin goes down to $800 you should buy as much as you can in my opinion because first of all it won't go that low second of all that would be a good opportunity to buy cheap coins before it goes back up.

but if you want to invest in other altcoins you certainly can but it is not wise at all to invest in altcoins such as ethereum that are manipulated and are getting pump and dumped.

p.s. you need to see some charts by the way because the prices of coins you named (i don't know what the hell USDCOIN is) have never been stable.

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March 08, 2017, 07:55:51 AM
 #8

I think that may be good option to move your bitcoins into Etherum or another crypto currency. It would help to save at least some money. I'm just wander about wouldn't the fall of bitcoin affect on other crypto currencies to fall?

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March 08, 2017, 07:58:17 AM
 #9

I don't have believe in othe cryptocurrencies other than  bitcoin becuse bitcoin doesn't have any centralized agencies and other currencies have some sorts of control of other people directly or indirectly so i belive only in bitcoin and i would love to use only bitcoin.
edited : Secondly we are seeing that many new altcoins are coming in the Bitcoin network and also many of going per month , so I think it is more better to convert your Bitcoin in Fiat than in any other altcoins .
Here we have more trust in Fiat after Bitcoin because Fiat usually don't get crash from its initial value .
So we have more better option than the cryptocurrency .


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March 08, 2017, 08:44:55 AM
 #10

I don't have believe in othe cryptocurrencies other than  bitcoin becuse bitcoin doesn't have any centralized agencies and other currencies have some sorts of control of other people directly or indirectly so i belive only in bitcoin and i would love to use only bitcoin.
I surely agree on this . As Haji said , Other cryptos have been controlled by some agencies which may lead to crash but the bitcoin may not crash .
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March 08, 2017, 08:50:41 AM
 #11

For example, if bitcoin is going to crash and I exchanged it into $1200 Ethereum lets say. And it goes down to $800 USD, will the Ethereum value go down?

Could you exchange your bitcoin into another currency to be protected from a crash?
I think Coins like Doge, LTC , USDCOIN all of these are 99.9% stable always in the same price, 0.01% prob that you are very very very unlucky and it drop when you buy but I don't think it will happen.

What do you think ?

People still doesn't realized bitcoin is high risk, can crash everytime. Yesterday it crash 1282 to 1000. and not also good for investment. How much ROI can you get from it? 2x 3x? Too dificult. While other altcoins can made profit easy and also good for long term.

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March 08, 2017, 09:46:23 AM
 #12

For example, if bitcoin is going to crash and I exchanged it into $1200 Ethereum lets say. And it goes down to $800 USD, will the Ethereum value go down?

crash or in other words price of bitcoin going down doesn't mean bitcoin dying and you should move into an altcoin!

Quote
Could you exchange your bitcoin into another currency to be protected from a crash?

have you even checked the price history of any of these altcoins?
they get dumped a lot and the swings are as big as 100%-500% up and can be as big as 90% drop

Quote
I think Coins like Doge, LTC , USDCOIN all of these are 99.9% stable always in the same price, 0.01% prob that you are very very very unlucky and it drop when you buy but I don't think it will happen.

What do you think ?

LTC has been stable but not by a lot and it certainly is not 99% stable you are making stats up!
and the chances of drop of all these altcoins are 90% and more.














 

 

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March 08, 2017, 10:16:12 AM
 #13

On cryptocurrency theres always a crash. And thats called pump and dump. Thats a normal thing. Meaning, we are not safe from crashing. Why will we pull out our money to bitcoin? Besides, bitcoin is very strong crypto. It could easily recover from crashing. We all know that. Cryto is risky. And bitcoin is worth to risk your money for.

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March 08, 2017, 10:32:39 AM
 #14

the recent small crush is nothing that we have not already seen in the past, if you are worried because bitcoin tanked by $10 then it's better if you leave bitcoin, because this kind of swings will always be there no matter the adoption size

and frankly speaking putting your money on any alt is far more dangerous, their swings are soemthign like 100%+, bitcoin in comparison is very stable...
I agree with you I also experienced that buying  other altcoin sometimes ending up your money to bankrupt Base on my experience. but sometimes you will earn also but there is no guarantee that it will happen. you can also exchange it to Fiat if your worried  that btc will continue to drop then buy back again if you satisfied in that price.

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March 08, 2017, 10:35:46 AM
 #15

This are technical issues as converting your bitcoin to others crypto currencies because bitcoin crash against dollars is not always a wise decision from experience. I noticed that bitcoin and eth move in parallel against dollar, what this mean is that when bitcoin is weak against dollar eth and others altcoins are always weak against dollars too. So you have to test your thoughts first on live market sir.

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March 08, 2017, 10:36:31 AM
 #16

For example, if bitcoin is going to crash and I exchanged it into $1200 Ethereum lets say. And it goes down to $800 USD, will the Ethereum value go down?

Could you exchange your bitcoin into another currency to be protected from a crash?
I think Coins like Doge, LTC , USDCOIN all of these are 99.9% stable always in the same price, 0.01% prob that you are very very very unlucky and it drop when you buy but I don't think it will happen.

What do you think ?

If bitcoin will crash it will affect all cryptocurrency. The reason is that all cryptocurrency is using bitcoin as a medium of exchange. If bitcoin will crash then people will be selling all their cryptocurrency since they will lost their trust on this kind of currency. Everything will crash and not just bitcoin. Bitcoin is the foundation of cryptocurrency without bitcoin everything will just shut down.

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March 08, 2017, 10:42:43 AM
 #17

Do nothing, because the price will rising back.

Well, who knows when the roller coaster ride will end for a proper stability to ensue. You might be risking too much especially if you have more bitcoins.



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March 08, 2017, 11:17:24 AM
 #18

the recent small crush is nothing that we have not already seen in the past, if you are worried because bitcoin tanked by $10 then it's better if you leave bitcoin, because this kind of swings will always be there no matter the adoption size

and frankly speaking putting your money on any alt is far more dangerous, their swings are soemthign like 100%+, bitcoin in comparison is very stable...

I personally like the fact that now we are calling "crush" declining of the price to $1,180. Really, it's great, guys.

On investing in other cryptos, I agree, it's far more risky than investing in Bitcoin.

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March 08, 2017, 12:32:30 PM
 #19

I don't think that bitcoin crash is possible. Price of bitcoin can go up or down rapidly, it's normal thing. It can go down to $800, but I don't think it would be crash.
I think buying of altcoins are much more risky than holding bitcoins. You are not right that your mentioned coins have very stable price. It's also going up and down more or less. And if bitcoin would become much cheaper rapidly, I think it can have big influence to altcoin markets.

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March 08, 2017, 12:38:03 PM
 #20

What's the need to think of a crash when bitcoin is growing potentially gaining the attention and acceptance of people around the world.

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.
.TRADE, EARN & OWN THE EXCHANGE
████   WHITEPAPER    FACEBOOK    TWITTER    LINKEDIN    TELEGRAM    CRUNCHBASE   ████
|FREETRADING &
ICO LISTING
|SUPERIORTO NASDAQ
AND LSE
|US$ 29MRAISED IN
2 WEEKS
|
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