What if bitcoin crash, could you put your money in another currency to be safe?

[~Bitcoin~]

Best option is to just exchange your bitcoin into fiat when price start to get some correction like right now and wait till it stops getting dumped. Than buyback cheap bitcoin with that fiat you have, buying other alts during bitcoin price dump may not always lead to profit and it is quite likely that other alts price in terms of fiat will remain almost same or even less when bitcoin get correction.

[danherbias07]

Playing safe. Hmm could work if the website wallet could turn your altcoin in USD directly. But I doubt that alt will not be pulled down also with the bitcoin crash. It is somehow connected. So why make it harder when you could just stay with bitcoin which is more reliable than alts which are disappearing anytime they want.

[Bellator]

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 the bitcoin crash and you already exchange it at Ethereum before crash. You are lucky because you already converted it to other coins. Some altcoins pump when bitcoins dump. So there's a big chance that your money will grow on that coin.

[LeGaulois]

Of course you can put your money in another cryptocurrency if you think you may be "safe". However others cryptos are not safe from any crash. The propability can be less or more compared to bitcoin, but can't be zero. So it is something to consider too

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.

When the price goes down of 50$, you can read some news here and there saying Bitcoin is crashing ! LOL

[harizen]

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 ?

Why bother to do that? It will just give you more things to think in the long run. A headache for those who are really not familiar with the things related in crypto world.

First of all, what do you meant for a bitcoin crash? A price decrease only or bitcoin will become doomed? If for price decrease, then just let it go that way. In the long term, surely it will regained again it's pumping status so no worries here even the price decrease too much. If for a doomed thing, then putting money to other cryptocurrency is useless too since if bitcoin will becomed doomed, so on with the other alts.

[thend1949]

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 the bitcoin will crash you will not know. It's nice if you already convert it to other altcoin before the crash. And I know if the bitcoins dump, the altcoins pump. So if you convert it to altcoin, your money will not crash and there's a chance that your altcoin price will pump.

[BitcoinHodler]

if you want a quick profit then yeah why not, a lot of the altcoins are good options for a quick investment to take some quick money from their pump and dumps but not for the long term, you should always remember to get out of them fast as soon as there was a rise.

and don't worry too much about bitcoin price, it is temporary and it is not a crash. it is just a correction.
i just said this in another topic i repeat it here: we are still 17% up from last month! even with the drop.

[positivezero]

Do nothing, because the price will rising back.

Yes definitely, the price will increase after all but in what specific or particular currency you used if bitcoin will crash?

Well for me, i would rather to wait when bitcoin will come back and re-build again. But i dont think if would really happen into bitcoin since it is more progressive and used by many people around the world.

[Gotottack]

Do nothing, because the price will rising back.

Yes definitely, the price will increase after all but in what specific or particular currency you used if bitcoin will crash?

Well for me, i would rather to wait when bitcoin will come back and re-build again. But i dont think if would really happen into bitcoin since it is more progressive and used by many people around the world.

What if it doesn't? Like there was a news that a super duper mega quantum computer was built to hack into bitcoins and steal everybody's money, that will definitely kill bitcoin and every user will move on. In that event, I think I will not be placing my money back into another currency, unless there is real surety that it cannot be hacked.

[eternalgloom]

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 the bitcoin will crash you will not know. It's nice if you already convert it to other altcoin before the crash. And I know if the bitcoins dump, the altcoins pump. So if you convert it to altcoin, your money will not crash and there's a chance that your altcoin price will pump.

Uhm, yes you will know when Bitcoin crashes. You'd probably have a few hours or days to still sell your Bitcoin at a reasonable price.
I'm of the opinion that you can better sell for fiat than other altcoins. A Bitcoin crash would likely also affect the prices of Altcoins as general panic sets in.

[Kprawn]

We have certainly seen a lot of short term speculators posting on the forum lately.. everyone wants to jump ship, before they go down with the

rats. We have learned from experience that Bitcoin always come back from it's "dumps" .... just look at where we are now, since the biggest

event that happened with MtGox. { The price was at more or less $100 back then... and we are $1200+ now. } Look at the history, to see the

future.  ..... The ETF is not the end, it is just part of the journey. 

[BrewMaster]

this is the first time in my life i am hearing someone call investing in an altcoin a safe way of storing money to get away from crash!!!!

i think OP needs to seriously take a look at some charts. his beloved ETH has had drops so big he is going to have half his money if he starts getting involved with it. and not to mention other pump and dump coins that are high one day and go down to 1 satoshi the next.

[rivoke]

Any bitcoin related include altcoin also got their effect so the solution may be sell all in as fast as possible since it's difficult to find people who want to trade gold => bitcoin for example.
So from know, my advice is sell a little bit when bitcoin reach high enough value

[Arcteryx]

Back to the medals.
Gold and silver. There are diamonds in those mines over yonder.

[bitbunnny]

If Bitcoin crashes, which I hope will not happen,I would try to sell as much and convert to fiat. Or maybe if the crash wasn't that big I would hold on for the price to recover, what will surely happen with time. I don't think that investing in altcoins would be the good way to rescue the money.

[Mometaskers]

I've haven't started trading yet but since I can afford to lose these bitcoins I'd probably just hold. If get really low enough, I'd probably take advantage of that and buy additional coins, betting that the price will pick up again.

[bamboylee]

Sometimes when bitcoin price tanks, some alt-coin price gets higher. But it is not always like that and also if you chose the wrong alt-coin, it may also crash. Anyway, every time bitcoin price tanks, it always recover and even get higher. So it is better to just hold your money in bitcoin.

[Bitcoinsummoner]

Well like other said or above going to other altcoin with stable movement is a right choice for me if the price of bitcoin was keep down.
Well it is more safe than we are staying in bitcoin sometimes there is a large dump happen in bitcoin and in order to make profit better to always check the news about bitcoin if you seen news like hack trading site sell your bitcoin fast before the price dump and for safety purposes or trade it in altcoin and save for safety..

[Pab]

Dogecoin is good hedge for bitcoin,doge price is low now,devs will upgrade network soon,if chinise will decide to pump doge price can be 3x minimum

[chaser15]

If bitcoin will crash, other alts will follow too - Im talking about the bitcoin downfall here. No way other alts will have the same treatment of what bitcoin achieved since if bitcoin crash despite of it's strong support from the community, then same goes to the other alts.

Bitcoin is the fundamental of all alts, without it, no sense to put big money to other currency.