Hi All
I am a newbie and have a couple of questions, I am hoping you can provide advice on. I have bought XLM/BTC and XRP/BTC which has dropped over the last couple of days. I have heard the SEC may approve the EFT on the 16 August 2018 which will boost the BTC price. With the BTC Dominance at 47.3% should I sell and accept a loss or not sell and wait till I make my money back? Also in your opinions will the Alt coins vs BTC plummet if the BTC shoots up to $15-20K? If this is the case I take it you stay with BTC and then buy the ALT coins when the XLM/BTC is very low?
Many Thanks
Seabass22
Bitcoin is a driving force in cryptocurrencies market and if you can understand how the Bitcoin market works you can actually invest in altcoins along side.. Any of us fail in trading buy flipping our coins at the wrong time but the reality is that what happens to bitcoin is what affects the altcoins market.
No, it's not driving the whole of crypto. The fact that the whole of cryptos are using the bitcoin/USD pair to determine how much their value. Remember even all of major crypto such as ethereum, ripple and many more still use it to determine how much price for each coin.