BTC Strategy

When BTC dips, I just stop making trades and ride it out. I just hang back regardless of if I'm holding an alt or not.

It's always worked out fine in the past, and it's what I'm doing now, but I'm curious about what you guys do during a dip.

I'd love to be able to use this time to increase the amount of BTC that I have by making an alt gain, but I've always thought that was too risky.

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I've done the same. My alts already hit their critical supports from the ETH bullrun and they bounced back from that. They'll bounce back from this too.

I hate watching my gains disappear but I'm still 3x on my investment from last month. Next time I'll sell when I'm in a steep profit and hold some "buy the dip" money in ETH or BTC for occasions like this.

That's a good call about that dip money. I have no idea why I haven't done that. Have you ever messed with USTD? I've probably considered using it like 50 times, and I've never actually done it.

I feel like I'm missing some great shorting opportunities but honestly I just don't trust Tether. If the Bitfinex-Tether printing rumor turns out to be true I'd really hate to be holding it when the market finds out

I've basically gone crazy coding a buy/sell script, but I have not been able to get my head around what the script needs to do when BTC price moves.

Let's say I have a sell set for an alt that's 10% away from the price it's at currently. If BTC makes a 10% gain, should I sell that alt according to the USD equivalent even if that means selling for fewer Bitcoin?

I've been watching this dip a lot closer since I've been working on that script, and just having it stop making trades on the dip seems to be only thing to do. The alt price movement just doesn't make any sense to me on the dip, and it really doesn't seem like there's a good programmatic method to account for it.

Man, you're right about that. I feel the same way.

Thought about it so many times last couple days and i would’ve made so much more but don’t hear about a lot of
People going into tether so been skeptical. So it’s always $1 with the usd no matter what???

this
i'd rather risk a 20% downswing on my long holds, than risk 100% loss if it pops
also, fuck sitting at my computer 100% of the timer after i USDT and trying to time back in

It's supposedly backed by real USD. But there's no proof of that. If proof comes out that Tether the organization doesn't have any real currency behind USDT the market is going to view it as a scam and the value could tank rapidly.

Yeah, I'm right there with you. The way I understand it is that it will be as close to $1 as possible, but when you go to buy it, it looks like someone has to be selling the exact amount of USDT that would equal the amount of BTC that you're looking to exchange. It looks like, in order to sell fast anyway, that you'd have to settle for a bit of a loss just to actually buy the USDT. I feel like I'm just missing something, but like said, the 100% loss risk just isn't worth it. It mostly just makes me mad because I don't understand it haha.

It's not like I haven't read up on it, either. I'll read about, feel like I get it, then look at the order book for it, and feel dumb again. That cycle basically just repeats.

I tethered up earlier when it was at 14,500 because I saw a dip was coming, just not this big, I figured it would just enter back into the down channel. I entered back in around 13,200ish and got into Ripple at 1.78 because that was support for Ripple. So when this thing rebounds I'll be sitting pretty. Wish I could have gotten in lower but I'm falling on a knife to try and make up lost gainz, when it corrects my gainz will be solid.

Yeah, it reminds me of conspiracy theory logic in that way. Like... you have to assume that one thing is true before you make the jump to assuming something else is true. 99% of the time, I feel like the initial assumption of truth in a conspiracy theory turns out to be incorrect, so all conclusions drawn from it are incorrect as well.

**not falling on a knife

Personally I only consider alt trades in terms of BTC, so I'm always aiming to increase my BTC stack, the current fiat value is irrelevant until you (or if you) cash out, so cashing out to fiat is the only time i'd worry about the fiat/BTC rate

XRP is what I'll be buying too. my script picked it up for a buy at 12570, but that was early this morning. I may hold longer, but the sell price it's giving is 16163

Man, I'll totally think exactly like that some days, and then other days I feel like it may be better to take the USD value while you can, since the alt will more than likely drop to compensate for the BTC gain.

I feel like you're basically just buying BTC high when you do this, though. If it worked like how my brain wants it to work, it seems like this method would be great, because you could then purchase an alt with greater purchasing power in BTC, let BTC drop while the alt goes up, and make more BTC than you had when you sold on the BTC gain in the first place. The alts just don't act the way I want them to.

Thing is you could think your in a loss but its only cause btc is going down but you have the same amount of btc in the alt now since you cash out in btc you would want to have more btc to sell

So far as trading, it's wisest to keep value tied to btc/eth for the time being. As was said, fiat value will only matter at times of withdrawing and not trade. I'd say that someone with 1btc to trade has more flex over any market than a fiat equivalent. You could spread btc over many dips, while fiat can only reach very few.

Split gains between a btc and eth stack.

Ok, I know you're probably right on this, but this is where I have some type of mental block about this stuff. I mean, I feel like the part I can't understand is probably common knowledge, and I'm actually just that big of an idiot. I am for real going to keep reading your comment until it finally clicks with me. Thank you.

Indeed, never Panic sale and never ride a buy a fomo.

Ok, so let's say BTC is at 10k and I have .5 BTC. It gains 10% and goes to 11k. Let's say I bought an alt at 100 sats when BTC was at 10k, and I was looking to sell that alt at 120. Considering that the alt should adjust to the new BTC rate by dropping to 90 sats, should my sell change to 110 sats?

I do the same no point trying to trade a bear market just like how you can't lose when crypto is in bull mode.

I think I was going to make that way more complicated when I started typing it, but I kind of gave up in the middle haha. The amount of BTC I had in that scenario would not matter. I have the flu, and it's not doing my natural dumb any favors.

Again, decouple from fiat and limit scope to sats. This way, paper money isn't a factor, and the script can focus on accumulation, not profit. Keep focus on numbers, not emotionally impactful gains.

Good point, man.

I don't tether up, I don't stop. I'm always trading. youtube.com/watch?v=HgzGwKwLmgM

You fags should learn to margin trade. At least a puny 4x.

I hear you, but I still have to make that sat gain. Maybe I shouldn't have used USD in the scenario I mentioned, but I think of BTC sats in terms of USD and alt sats in terms of BTC. Do you think I'm correct to adjust the sell prince to account for the BTC gain, since the alt should still make the predicted gain, but it's going to do it from a lower sat level than where I bought in. I guess my sell in that scenario would actually be 108, since 18 is 20% of 90.

I lack the balls, my friend. Now I know that the balls allocated for me were actually given to you instead. I'll check out the channel. Thanks, man.

It just occurred to me that I brought up the script while also showing my complete lack of understanding BTC price movement related to trades. I'm sure you guys are like...there is no damn way I'd ever use that dude's script. haha

Just realized that this was a Queen video that you linked and not a crypto trading channel. I'm uhh...I'm pretty sick, guys. The flu is no joke.

If you don't trust Tether, then you shouldn't trust Bitcoin either because the theory is that Bitcoin's price is huge inflated by Tether.

Unrelated, but TKS is in a legit position to test ATH it looks like.

Concerned about that as well. Not sure how I feel about measuring and trading my coins in sats when I don't feel especially comfortable holding bitcoin itself. Maybe it's time to switch to ETH pairs?