Hi all, am looking at LTC and doing some basic TA. I was just wondering what you lot do when comparing charts. I’m sure it’s important to understand which is offering the best value for your trade, but not sure how to go about making a solid comparison of the value implications. Any hints or tips?
Look at btc when pairing. Not fiat. Because you could actually lose money if you only trade on fiat prices.
Remember. If alts go up. But bitcoin goes up even more. Trading your alts could get you LESS btc than you traded in.
That’s a tricky one hey? OK, so as a general consideration, look at ALT vs BTC when deciding on trades, but keep BTC price in mind as it might be better to hold off if BTC is rising in value despite the fact the ALT shows a good price against the BTC?
That’s where you weigh the risk reward. Historically over time you will always win bigger with Bitcoin. I’m slowly liquidating assets as I reach my mini moon goals for each coin. I’m going harder into BTC
TL:DW - My second favorite Crypto celeb to @peter Andreas Antonopolous. In this video I think he explains the very reason @peter is “going harder into BTC”. He talks about alts and how they feed to help grow BTC through an explanation of a Power Law. This conversation starts around the 22min mark, but the entire video is a good watch.