Hi guys. I've been lurking for a few months but this is my first post. I'm new in the cryptospace and only started investing about a month ago.
I bought a few waves, siacoins and stratis and I'm holding them.
I want to start playing with part of my portfolio and day trade, that is buying and selling on a daily basis for profit. I currently use Bittrex.
My question is, lets say today I think the market will go down and I want to sell my alt coins. You sell to what? Bitcoins? Because bitcoin will also go down, you go to fiat? Can you hold fiat in bittrex? My question is, when you sell and wait to buy, in what format do you hold your money while waiting?
Hope someone can help. Thsnks
While bitcoin will go down if there is a big crash most of the time altcoins will go lower in value than bitcoin in terms of proportion so even if you lose money in fiat you will be able to buy more altcoins with this new bitcoin, so in a way you will get more altcoins than the ones you had before the crash and when the price recovers your earnings will grow as well.