Real simple: I post a question that is on the minds of many. No blabbing, no extraneous material. I pose a question and we discuss the pros, cons, etc.
Today's question: How to handle Crypto Market sell-offs like today (6/26/17)
I don't have a great answer. The question is more of a talking point. However; I have 2 statements.
Ripple didn't get that bad of a 'beat-down' as most of the coins. I was watching closely. I own Ripple (disclaimer) which leads into my # 2
Is the best strategy to have a sizable portion in Bitcoin, Ripple, and other more stable coins (which ones?), so that when this happens again, one can pounce on the 'buy' deals after the carnage? I suppose I could have $ in my USD wallet as well, but then I'd have to quickly buy bitcoin, then transfer to other exchange (i.e. Bittrex) and then buy.
Mann, I was thinking today to myself "watch...the carnage will stop and once ETH starts back upward, everything will follow" And that's what happened...or at least that's how I saw it.
Any thoughts??
I would suggest keeping a proportion of your portfolio in 'old money' on exchanges which provide direct access to buying the main tokens. E.g. Bitstamp, Kraken, Gdax, bitfinex, or others. Then, you are ready to buy immediately when the opportunity (crash) occurs! Ideally, sell just before the crash too;)
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I couldn't get an account on Kraken. What other exchange would you suggest? I have a bittrex account already, but I can only keep a proportion in Bitcoin, no US $.
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I'm a little confused with the market. It's very interesting though.
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