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Author Topic: is this bitcoin high making your poorer?  (Read 370 times)
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October 13, 2017, 12:36:33 AM
 #1

there must be many people on here who are very alt heavy. because of that these bitcoin all time highs must be giving you quite a hit.

are you a long way down or have things equaled themselves out? i've just done my sums and i'm way down but that'll teach me for not getting out while the going was good.

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October 13, 2017, 12:58:29 AM
 #2

It is making you poorer if you are bagholding. But I reckon many altcoin holders have already finished selling most of their coins and are now holding bitcoins. Observe how all the selling started from their peaks 4 or 5 months ago, depending on the coin. 

I speculate all that value made in bitcoin will transfer once again back to altcoins, hopefully by December.


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October 13, 2017, 12:59:42 AM
 #3

I don't think so. Participating in ICOs is good to not to worry about bitcoin that much. Just my cent.

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October 13, 2017, 01:18:49 AM
 #4

It would make me poorer if I sold my alts. Most of them are underwater except ripple, zcash, bat and ardor.

Whatever though. Right now it’s just a loss on paper. I’m not going to sell now. In fact I’m buying more. Everything i own will go back up soon and I will be richer than when I started.
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October 13, 2017, 01:21:11 AM
 #5

I'm not selling at a loss no matter how long it takes for my alts to recover. So, no, BTC bull run is not making me poorer.
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October 13, 2017, 01:26:11 AM
 #6

I feel rich with this high bitcoin price because I have bitcoin when the price is low and now the price is almost 2x higher than it used to

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October 13, 2017, 01:36:25 AM
 #7

It would make me poorer if I sold my alts. Most of them are underwater except ripple, zcash, bat and ardor.

Whatever though. Right now it’s just a loss on paper. I’m not going to sell now. In fact I’m buying more. Everything i own will go back up soon and I will be richer than when I started.

I concur, I'm down pretty hard on QTUM after purchasing at 0.00234 but my feeling is that when the BTC pull back happens, it'll come back high enough to hit my sell limit.

I just wish I'd waited a little longer to buy in the first place but then hind sight is the 20/20.
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October 13, 2017, 01:38:28 AM
 #8

I know that if someone removes them early, I will regret some progress ( poorer for suremore poorer an that time it depens if you take btc arlier  )


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October 13, 2017, 01:45:11 AM
 #9

Well, a strange phenomenon I observed is that even though altcoins may be down, the XMR mining difficulty has not moved much...

Seems still many believers out there?
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October 13, 2017, 02:29:05 AM
 #10

It seems so. But the real value of your assest is when you buy or sale them. So whatever price rise or loss you may have, you are not in profit or loss unless you sell them.

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October 13, 2017, 02:34:56 AM
 #11

I don't think so. I strongly believe that my altcoins will recover in due time. It is also a good thing for me that Bitcoin value is vry high because once my altcoins recovered, I have a high value of it when I exchange it to Bitcoin then Bitcoin to fiat. I don't feel some losses here.


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October 13, 2017, 02:50:27 AM
 #12

I hold around 50 bitcoin right now and some altcoin and so that will make me become poor person, I just waiting for the opportunity to buy the more altcoin caused by the bullish and fomo from the bitcoin buyers. and thanks with each bitcoin and i will got tons of altcoins.


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Nerman
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October 13, 2017, 02:53:39 AM
 #13

It would make me poorer if I sold my alts. Most of them are underwater except ripple, zcash, bat and ardor.

Whatever though. Right now it’s just a loss on paper. I’m not going to sell now. In fact I’m buying more. Everything i own will go back up soon and I will be richer than when I started.

Exactly most of us are expecting that altcoins will recover its price after the fork. I know that alt coins are on sale right now that's why i am buying more altcoins since it is really cheap now. Although bitcoin is gaining momentum i am pretty confident that there will be   a pullback on price after the hard fork.

It is actually foolish if you are going sell you alt coins now, we just need to hold our coins and be patient after three weeks it is our time cash in.

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October 13, 2017, 02:57:45 AM
 #14

I'm heavily diversified so no:

- About 50% in base cyrpto currencies (Bitcoin and Litecoin)
- About 50% in alt coins, wide variety (SALT, OMG, PAY, BAT, PPT, EOS, CVC, ADEX)
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October 13, 2017, 02:59:44 AM
 #15

I am holding lots of alts along with bitcoin, will be selling almost all of my bitcoin at around $6k than I will hold those USDT buy more alts when this fork hype will be over and whales will cashout their profit.

Current pump on bitcoin is not justifiable, some of the chinese whales might sell loads of their bitcoin on foreign exchanges soon.

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October 13, 2017, 03:29:52 AM
 #16

Nah, only central bankers like you get poorer. It is evident that once btc stabilize and found a new floor, alts will rally soon and it might be sooner than what most people think.
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October 13, 2017, 03:50:30 AM
 #17

there must be many people on here who are very alt heavy. because of that these bitcoin all time highs must be giving you quite a hit.

are you a long way down or have things equaled themselves out? i've just done my sums and i'm way down but that'll teach me for not getting out while the going was good.

I think it totally depends on the relative portfolio weight investors have in Bitcoin vs all alts coins. If an investor was 40% to 80% allocated to BTC,  then they probably did just fine and conversely investors with a heavy overweight to alts must be down really big. I am not sure that now is the best time to liquidate alts in size and allocate to BTC, this could well be a short term peak before we have yet another BTC bear market. Now that hedge fund money is coming into crypto its quite possible that the large cap crypto coins continue to outperform simply because that is where the liquidity is. The small coins are too illiquid for the large funds and i-banks to take positions so they could languish for a long time.   

I think it is highly likely that the alts will gain back some of their losses particularly if they have strong uses cases / business models: Monero, Zencash, Spectrecoin, Ark, Factom, Radium, Crown, Bitsend are my top picks at the moment. 

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October 13, 2017, 04:08:39 AM
 #18

every people which keeping many altcoin in their wallet should not sell right now because like the title said, with bitcoin price is up too high, selling the altcoin is not a good choice. i think its better to keep the altcoin we have and waiting the rise of altcoin after btc price gets stable for a while. i am still holding many altcoin in my wallet and i think this situations makes each of altcoin is getting deeper than before and maybe it will reach the bottom price like the last year. so we can not doing anything except waiting the good moment for altcoin and i hope its not too long because it will go down more deep.

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October 13, 2017, 04:16:34 AM
 #19

The impact and effect of collective believes of crypto community can never be underestimated. If the whole community believes there is free money to be made and you notice that they are moving in that direction, in spite of ones plan, one must change direction in other not to be left behind. This what I'm learning with this bitcoin increase.

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October 13, 2017, 04:27:33 AM
 #20

It actually depends on how you react to the situation. An experienced person will know the right thing to do whereas panic people will make the wrong choices. BTC is increasing way too fast which is making the alts go down. Once the fork is done BTC will drop and Alts will most probably rise.
The best thing to do will be hold you alts if you already own them, buy more alts when it hits deep and hold the BTC you already have to obtain the free BTG. It is a very good opportunity in the crytpo community where money can be made from all aspects. It's just how you manage the situation.

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October 13, 2017, 04:38:50 AM
 #21

This already happened with me and I have learnt my lessons already. This is why I keep saying that there should be equilibrium between how much money you redistribute into bitcoins and altcoins. For many of us alts are like ocean of profits and that's true but it doesn't mean you should have all of it. Also, once you think that bitcoin is coming up at any time then just grab your alts and exchange them against the bitcoin and then let them grow there. That's like adding up bonus to your trade or exchange. Once the prices are very stable at some time point bitcoin then you can sell them and reinvest into your alt portfolio when they are down. This way earnings can actually be multiplied many times.


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October 13, 2017, 04:45:31 AM
 #22

Alt traders who are holding so much alts whitout keeping some of BTC will definitely gonna be hit with this BTC high. Breakeven. They should be holding also some of BTCs for this times that BTC price is surging. I think come november ther will be a fork, and BTC is expected to go down.

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October 13, 2017, 04:46:09 AM
 #23

Yes even my altcoin portfolio dropped upto 50% while comparing with btc most of the coins even high potentiality coins also struggling hope everything will be settle down after next hardfork . People are collecting bitcoin for getting free coin may be bitcoin gold.

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