Bitcoin is sucking everything up its ass

Booteefool
Booteefool

Bitcoin is sucking everything up its ass. Alts getting slaughtered...

What is the smart thing to do in this situation? Is it time to buy alts? Turn off computer and wait for things to return to normal? Consolidate everything into btc?

What's the best thing you can do when btc rallies like this?

Gigastrength
Gigastrength

wait it out

PackManBrainlure
PackManBrainlure

@Booteefool
either sit on current alt holds
buy alts while theyre on sale
or sell at a loss and try to make it up by hoping BTC doesn't crash (which it will)

Burnblaze
Burnblaze

@Booteefool
Post a pink wojak and pretend like it's not.

BunnyJinx
BunnyJinx

@Booteefool
Except REQ

Fuzzy_Logic
Fuzzy_Logic

@Booteefool
if you want to grow btc, buy alts while they're low. i think. honestly when btc corrects i have no idea what the alt market will do. maybe they'll hold, maybe not.

Need_TLC
Need_TLC

BTC hitting resistance at 14k, alts will slowly rise again now

takes2long
takes2long

Normie money is pouring into bitcoin overtaking supply, once they run out of money and realize you can't cash out it will crash big time.

CouchChiller
CouchChiller

@takes2long
Cant cash out
Crash

Pick one

Illusionz
Illusionz

@Booteefool
Hold your alts right now and don't sell until they hit a new ATH in satoshi value. Just be patient. If your alts are good picks they WILL go back up and you won't have missed any gains BTC-wise. If you FOMO everything into bitcoin at a loss when it's at an ATH, you're shooting yourself in the mouth

Garbage Can Lid
Garbage Can Lid

@Booteefool
put you moneyz in bitconnect

Emberburn
Emberburn

@Illusionz
would that have been a bad approach to take earlier in the day before the massive push to 14k+?

Snarelure
Snarelure

@Booteefool
buy XMR and ETH

VisualMaster
VisualMaster

@Gigastrength
This, buy alts with your ETH and wait it out. Youll be happy.

Ignoramus
Ignoramus

@takes2long
this meme always comes out of nowhere

Stupidasole
Stupidasole

@Emberburn
If you can time the market perfectly or you can anticipate a BTC pump in advance, obviously you'll make the maximum gains possible. But if you mess up you could miss a moon mission on one of your alts (See: anons who sold IOTA between $1-2). If you picked your alts for the long term just wait it out, on the other hand if you had a small day trade going it's probably better to cut your losses on that and buy more of your long holds while they're on sale.

Sharpcharm
Sharpcharm

@Fuzzy_Logic
Alts have been green like it's spring all over again. I'd go in alts OP, perhaps it's bad today but lately they've been growing like crazy.

@Illusionz
this, you will likely not beat the market. just chillax, perhaps take some BTC gains next time if you're feeling conservative

TechHater
TechHater

@VisualMaster
By the time ETH transfers this curse will likely be lifted and it won't be buy season anymore

JunkTop
JunkTop

I'll give you guys a little hint, its all about BTC dominance. BTC dominance represents the total amount of capital invested in BTC in relation to the rest of the market. As of right now its sitting at around 62%.

The best time to invest in Alts is when BTC peaks in dominance. So the worst time was in June when BTC was 35%.

In short, there is 2 things you can do if you hold alts:

1) Sell and convert back to BTC, anticipating a further significant rise in BTC value

2) Hold

That's all you can do. If you look at the USD value of alts, you'll see many of them have been staying relatively stable. This means that its the altcoin itself is not losing value, its just the value of it RELATIVE TO BTC, and the fact that BTC is rising so fast.

So for alot of us that invested when BTC was lower in dominance, just relax if you can. Eventually the new money in btc will flow back to alts, it just might take awhile.

Lord_Tryzalot
Lord_Tryzalot

@CouchChiller

Do you know what a Bankrun is?

SniperGod
SniperGod

@Booteefool
You could own BTC.

Inmate
Inmate

@Booteefool
Taking a 10% haircut on your alt is a small price to pay for the OPTION of mooning x10. Bitcoin goes up 30 percent and absorbs billions in capital from alts. Now alts are cheaper relative to bitcoin. The next day your random shit alt moons 50 percent because some cuck decided 15k BTC price is too much and he wants to go back into Ark.

Crazy_Nice
Crazy_Nice

@Booteefool
If you didn't sell and convert to BTC before it mooned then hold. The best you can do at this point is look at your list o holdings and see how many %btc each has gained or lost. If you take some of the ones that have lost the least % in BTC value and buy some that have lost more then when things recover (providing they are good alts and you have faith in them tech wise) then you will now own more satoshis than you did before providing things go back to relatively what they were before.
In an ideal world, you sell all your alts as BTC is mooning and buy back into them right now when it has reached its apparent top. You could gain however many % in BTC value they lost in the number of tokens if you did that. Second best is the method I gave above where you will make the difference in %lost between the alt that's losing least being sold and buying the one that's losing more.
Math.
Anybody selling alts now is about to lose a lot of their btc value when they go back up and a lot of fiat value too as a result. They will recover.

StrangeWizard
StrangeWizard

@Crazy_Nice
You can just try and sell now and rebuy if you think btc is going up to make small gains but its not really worth it.

PackManBrainlure
PackManBrainlure

@Booteefool
SALT. Buy SALT.

Evil_kitten
Evil_kitten

@PackManBrainlure
SALT is one of the few alts that's not being hurt in btc's bullrun, plus I already own alot of SALT thankfully

BunnyJinx
BunnyJinx

spend the last few months reading about cryptocurrencies, investment options, etc.
watch as bitcoin continues to rise
Did I miss out on the prime opportunity to invest in Bitcoin, or do I invest into it or ethereum and transfer to altcoins?

Illusionz
Illusionz

@Evil_kitten
smart. I'd hold whatever ETH you have, it's going to go back up. The price looks nice, people are going to be hopping on it and riding the wave back to $450-480 range in the next day or two.

girlDog
girlDog

@Inmate
@Crazy_Nice
@JunkTop

Holy shit there are actually some smart people on Veeky Forums

Booteefool
Booteefool

@girlDog
Considering all the intentionally bad advice I see given here it is a nice change of pace.

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