RED SUNDAY - cryptocurrencies dropping like bricks

[kahc]

Rare phenomenon, 95 of top 100 cryptos dropping at the same time on
https://coinmarketcap.com

Time to buy boys!


EDITED 11.12.17 - Made a great profit buying on bloody Sunday, did you?
My whole portfolio is +% green as weed can be

[waynechong1995]

Luckily to have stocked some USDT, see that coming few days when bitcoins rose 70% over the course of 7 days! Yesterday my holdings are currently all ERC20 related as Bitcoin was getting weaker, settled my buyout into ETH along with USDT watching for another entry. Bitcoin seems tempting but it's all because about the funds selling fiat and leaves crypto - peak 450 b marketcap had lose 90 b in just 2 days, interesting for big holders to leave with their profits on $15,000+ buyers.

[ulhaq]

What is the cause of this? Nothing seems to have substantively changed. Maybe the prices were pumped too high by irrational exuberance and now coming back to normal levels. How far down will it go?

[notthematrix]

What just happened ? This is very annoying as i just took one position...Now i feel dumb

I would have gotten way more coins just waiting few hours :/

[mongkie]

Luckily to have stocked some USDT, see that coming few days when bitcoins rose 70% over the course of 7 days! Yesterday my holdings are currently all ERC20 related as Bitcoin was getting weaker, settled my buyout into ETH along with USDT watching for another entry. Bitcoin seems tempting but it's all because about the funds selling fiat and leaves crypto - peak 450 b marketcap had lose 90 b in just 2 days, interesting for big holders to leave with their profits on $15,000+ buyers.

thats great! i may do that too! stock usdt after taking profit then buy altcoins! what a good strategy. thank you for sharing!

[jamids]

Now is the time to hoard your favorite coins. Many people would be panic selling. We have seen the fastest rise of bitcoin's price in fast few days because bitcoin has been repeatedly appearing in the mainstream media may it be in television or in papers so there are many investors who go in probably when the price is more than $15,000 so they are down now and would be worrying because once bitcoin goes down, there would be FUDs going around which would make the price go lower so it would make those who are fresh in cryptocurrencies to panic sell.

[bucksman5233]

Yes! If Bitcoin falls in USD each 99% of the alts will fall in USD. This is not the first happening like this but still some people won't understand this and they wish Bitcoin to crash. Anyway the best buying opportunity is when BTC stopped falling and settled around some price. Don't try to catch falling knives.

[forcrypto]

Will be watching the prices and hoping the prices will dip further after Bitcoin Future open. I have USDT available just for this moment.

[Crypington]

Yeah ... it’s almost dropped all the way to where it was last Thursday.   

[Nebell]

Bitcoin is supposedly hitting Wall Street tomorrow. Guess people are cashing out because of uncertainty.
I'm keeping my shit. I have 0 Bitcoin anyway.

[kahc]

Luckily to have stocked some USDT, see that coming few days when bitcoins rose 70% over the course of 7 days! Yesterday my holdings are currently all ERC20 related as Bitcoin was getting weaker, settled my buyout into ETH along with USDT watching for another entry. Bitcoin seems tempting but it's all because about the funds selling fiat and leaves crypto - peak 450 b marketcap had lose 90 b in just 2 days, interesting for big holders to leave with their profits on $15,000+ buyers.

thats great! i may do that too! stock usdt after taking profit then buy altcoins! what a good strategy. thank you for sharing!

Yeah, that's actually better than exchanging back to fiat, since tether provide the same stability as USD.

[jerry0]

Where do you have usdt at?  By any chance its bittrex?  And if so, how do you get usdt?  Did you sell btc or those other coins that use usdt there?



Someone says

thats great! i may do that too! stock usdt after taking profit then buy altcoins! what a good strategy. thank you for sharing!




Is the right way to do it in terms of waiting for dips and wanting to buy altcoins?  Thus have usdt on bittrex.  Then when you want to buy an altcoin... you then immediately buy btc... then immediately sell it for that altcoin?

[QFT]

Rare phenomenon, 95 of top 100 cryptos dropping at the same time on
https://coinmarketcap.com

Time to buy boys!

This is what I am doing, buying.
But it has happened a few times already over the past months with Bitcoin soaring.

[jasong]

What do you think about cryptokitties exposing scaling issues in eth. Doesn’t seem thé market is reacting very strongly to it.... you’d think we’d take a harder hit no?

https://finance.yahoo.com/news/cryptokitties-cryptocatastrophe-viral-kitties-cause-180100270.html

[tdeannova]

This is funny, few days ago bitcoin reached the highest price and now it drops drastically, all alt is also dump. I do not know what's causing this. We know it's the end of the year and a few more days there will be a big day of Christmas. I think a lot of crypto users are selling their assets to prepare for Christmas and New Year's holidays with their families.

[UAE Seasider]

Seems like the big kid on the block is calling all the shots today. Bitcoin goes up alts go down, Bitcoin gets a bloody nose everyone else bleeds with him.

[slybarte]

Hahahaha this so clearly a business strategy. trader should be cleaver also.

[cryptoneet]

>buying at the height of a pump

lmao 

[vv181]

I believe it because altcoins market is very tightly correlated to Bitcoin prices, the only way for altcoins to go up is for Bitcoin to stay stagnant or it has a slow uptrend/downtrend movements. Well, we can force to stop people taking a profit. The good thing is today kinda like black Friday for Altcoins. This is the best time to start accumulating more altcoins.

[kahc]

Where do you have usdt at?  By any chance its bittrex?  And if so, how do you get usdt?  Did you sell btc or those other coins that use usdt there?



Someone says

thats great! i may do that too! stock usdt after taking profit then buy altcoins! what a good strategy. thank you for sharing!




Is the right way to do it in terms of waiting for dips and wanting to buy altcoins?  Thus have usdt on bittrex.  Then when you want to buy an altcoin... you then immediately buy btc... then immediately sell it for that altcoin?

Exchanges that support USDT
Yes, Bittrex do support USDT.

You sell whatever cryptocurrencies you are holding to USDT if you think that specific cryptocurrency is going to dip.
When you think the dip is over, sell USDT and buy back that cryptocurrency.
Since Bittrex don't support fiat, this approach is pretty much the only safe way to safeguard your current market value.

This can also be done with BTC, but BTC is more a wildcard now.