There appears to be a downward trend across the board of crypto currencies today. It may be a short dip or it may be a more extreme one. No one knows for sure.
But if you are looking to be cautious, now might be a good time to turn your BTC into cash. Wait for that value to drop down and then start to build its way back up again.... at which point you feed your cash back to BTC!
Simple :)
Ride the wave... Up or Down... no matter which. You can benefit from both.
To avoid turning my BTC into cold hard cash I am looking for 'safe' coins now which no not appear to be affected by the current downtrend, but struggling to find one at the moment.
Everything looks like it moving as one...
Waves looks like the safest bet for now.
If anyone knows of a coin which would be a safe holding till the drop is over, please let me know!
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Good post. I tend to be more diligent these days after a few trading mistakes in the past. Best not to make emotional decisions at times like this although you have to stand by your calls. Sometimes the best approach is to be patient and ride out the storm and simply buy on the dips if you have the capacity. Great buying opportunity right now across the board. I tend not to sell and trade to avoid making mistakes and losing my position in certain coins. It has been a very turbulent week. Which means we are hitting a bottom which will mean a new wave of investment is coming soon. We all hope that is the case. :)
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I have have made a few hasty moves already! Let's see what happens....
I woke up and freaked out a little when I saw the markets. Probably should have drunk the coffee first to wake up a bit more! Time will tell...
Many thanks for the detailed comment :)
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Nice post. Thank you!
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Pleasure. Let's see what happens....
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Bitcoin is as safe as it gets. Ethereum is pretty good tI. Everything else is a lot riskier.
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Even Bitcoin can have big drops in value. Why do you think Ethereum is a good one?
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They're the two biggest Cryptocrrencies by far. Bitcoin is and will continue to be the main store of value for crypto, while Ethereum develops into the underlying blockchain for a diverse ecosystem of tokens built atop it.
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Thanks for the solid response :)
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I liked your post, @samstonehill! Useful information. Keep up the good work :)
I have just upped your post & Resteemed! Good luck
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Thanks. Fingers crossed for the markets!
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so alt coin do u recommend?
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Like I said, Waves appears to be stable for now. Most of the others are dropping. Impossible to know for sure.
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I did as you post.
Let's wait
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I just moved all my Dash & BTC into Waves! Fingers crossed :)
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Very nice posts from you...
Good job @samstonehill
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Thanks. Am doing my best to keep people informed...
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Yes, you are right!!
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Weak hands getting shaken out of Bitcoin?, I suspect some will see this as a buying opportunity, weekend action should be interesting. There must be a lot of people waiting for their exchange accounts to be verified, wonder if they will buy straight in?
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Good question. Only time will tell. My recent experiences with BTC have been terrible. Over 48h transaction times and when using poloniex
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Thanks for the warning, buddy!
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I am no expert! But it does appear that something is going on right now... Will keep you informed ;)
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A really nice observation....
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And for now it steems to be over! All my coins are rising up again! Lets invest :D
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The safest coin is the Steеm dollar! :)
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