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

[Slark]

Define "crash". Bitcoin market is volatile and I can't see any change to in in foresable future.
If Bitcoin will fall really hard to the point of never recovering then I don't think another cryptocurrency would be the way to go.
General masses will lose faith in digital, decentralized currencies and convincing users again that "this time with altcoin X won't be like that time when BTC fell" will be hard.

[sportis]

@OP is an interesting view but you don’t really think that, do you? Do you believe that altcoins is a safe heaven if bitcoin crashes? I believe that alts are useful in many cases like as when I believe some rumors and I feel that I will do a trade profit and I am in risky mood, or when I want to do some micropayments due to high transaction fees of bitcoin network; but all alts will not survive if bitcoin dies. Therefore, because we are near the ETF's approval or rejection from SEC and many people have their fingers in the trigger, anyone believes that odds are against the approval then he can go with fiat or real commodities like as gold and silver.   

[U2]

I'm collecting bitcoins not selling them. How stupid would you feel if you sold when bitcoins reached 1 USD? That was a huge day for bitcoins but it means absolutely nothing now. $1 bitcoins would be a ridiculous fall and lots of investors would be gone far before it happened.

[helloeverybody]

Id say dodge probably would be a pretty safe one to put your money into now if you arent wanting to stay with bitcoin for the ride that could be coming up. Im going to stick with bitcoin weather it goes up or down. If price was to drop so significantly that bitcoin was declared dead then id probably leave the crypto scene. For me there no cryptocurrency without bitcoin, Too much faith would be lost.

[agustina2]

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 ?

Price decrease normally happen so better just hold whatever you have in bitcoin since in the long run, if you really believe that bitcoin is for long term investment, will eventually reached again it's considered high price.

And while doing that, use your extra funds to diversify your investment by taking the risk of investing in other alts like the one you mentioned as an example.

Bitcoin crash is different from bitcoin price crash.

[ice098]

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 ?

Maybe yes, but I will find it first in what coin will I use it , because it is a big thing a big amount of money that I dont want to be lost. I will search it first. It is hard to find a good coin now, many are dumping and it causes traders to be bancrupt.I dont want to lost again. It is hard for me to earn bitcoin ,so I need to secure it very much.

[Sundark]

Decentralization is the most awesome and the most disturbing feature of bitcoin. This is the reason we have all these questions: when, what if bitcoin will crash.
It's because no one will guarantee you that price will be stable, there is no authority behind bitcoin, no central bank which will assure you that everything will be ok.
No wonder people's faith in BTC is so thin.

[megynacuna]

I could just move them back into US dollars or get them traded into ethereum or any other potential Altcoin. It's just that simple but I'm hopeful Bitcoin will never crash.

[cryp24x]

I could just move them back into US dollars or get them traded into ethereum or any other potential Altcoin. It's just that simple but I'm hopeful Bitcoin will never crash.

I will do the same thing.  Probably I will look for the most stable altcoin (stable buy support) and convert my BTC when a crash is inevitable for BTC.  During Bitcoin price declining, price of several altcoin tend to increase.  So it is the best way to convert your BTC.  Convert it at the start of decline then convert it at the start of surging up.  We just need to pay attention to the market closely  because one wrong move and we lost all the profit even the percentage of BTC we have.

[olubams]

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 ?

In the fist illustration most alts price are determined in relation to bitcoin which means a decrease in the price of bitcoin means their value to bitcoin will increase and vice-versa eg. If 10eth will get say 0.1 btc when the price is 1000USD and the price of bitcoin falls, it means ETH has appreciated as the same 10ETH can now get say 0.2btc.

On the other part, I believe that is the logical thing to do as even we have seen countries move their foreign reserves from one currency to a more stable currency...

[uneng]

If this would happen I would stop using crypto currency for a while until I see the next main currency that would substitute bitcoin. I don't trust my money in any altcoin, it's too risky, and at first point it would be a mess, everybody trying to predict the next bitcoin currency.
Me as a little investor, a little fish, couldn't influence anything, I can just follow the whales hoping to make some profit with their choices.

[hardtime]

The only other currency that I could think of that really would be safe to the point of having no issues with the bitcoin price flucation would be FIAT currencies such as USD which are not going to be affected by Bitcoin in the least, they may even increase value (alongside other FIAT currencies of course) People on here may say the best bet is going to be some shitcoin but it's going to have an issue exchanging back into bitcoin so I'd just go ahead and switch to USD if you fear a crash incoming of any sort.

If this would happen I would stop using crypto currency for a while until I see the next main currency that would substitute bitcoin. I don't trust my money in any altcoin, it's too risky, and at first point it would be a mess, everybody trying to predict the next bitcoin currency.
Me as a little investor, a little fish, couldn't influence anything, I can just follow the whales hoping to make some profit with their choices.

I wouldn't want to put my money and trust in the face of the whales, they don't care for anything but some profit.

[Babayega31]

If badly needed and crash could possibly happened I must be into tough decision just for my own welfare, and avoid lossing what I've sacrificed to have. I must decide to exchanged my money which is the bitcoin to fiat currency and cash it out from my wallet through fiat cash bank and save it in my account deposit. With that option I can make it safer and in the future, that money will be use for better purposes.

[batang_bitcoin]

I guess there are people who are doing that but that needs a lot of effort just saving your bitcoins from the crash. But it's better not to do that because you might miss your bitcoins from doing that. Since you are making two markets better to stay with simply holding your coins out and don't get panic, this is just a normal thing.

[WorldClassic]

This now had been the real issue. Say, what would you do now ?

[CoinstarF]

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

Let's not talk about crash but instead do promoting bitcoin with sincere attention and build strong create new fashion of technology invite investors to invest here again will rise.

[Jonsnowstark]

I will never put my money in another currency if bitcoin will crash. It's because i am sure that bitcoin will never gonna crash. The price might goes up and down because bitcoin or any other cryptocurrency's price is volatile but still bitcoin is still bitcoin and it will not crash. Let's not talk about the negativity in bitcoin instead we talk about the positive sides and keep promoting bitcoin to all people mostly the investors.

[TimesVeronica]

No, I will not believe in this market anymore. Since btc is representative of this market, it is no longer valid, the market loses its value.

[fabskie21]

If you try to observe the trend in crypto market, whenever bitcoin's price falls the tendency is that most of all coins will also follow the same trend since almost all are paired with bitcoin in exchanges.

[stayeduptolate]

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 ?

First I don’t think that it could ever be possible that bitcoin could crash , bitcoin is very sustainable, versatile and very volatile crypto currency and has made very tremendous progress since year 2008 and has millions of users all around the world so I don’t think that it could crash even because it is not that easy to divert the mind of millions of people around the world but if we look at the alternative of bitcoin then etherum could be the choice.