Bitcoin Regains Title Over Altcoins... For Now

Unless you completely unplugged this weekend, still drunk of tryptophan, you know that Bitcoin has continuously made new highs over the weekend. Even though the Altcoins have broken out as well, Bitcoin has overshadowed them. The altcoin index has retraced slightly from new highs, and the altcoin spread shows that Bitcoin has reclaimed the title, and is 'hodling'. However, we can expect the balance to revert at some point. This might be a good time to take profits in Bitcoin , before an inevitable pullback.

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This is going to sound like a total noob question, but when 'taking profits with bitcoin' - would this involve taking profits into fiat, or into alt-coins? Or both? i never know what to do in situations such as this, but I am still learning..
quantguy theinternationalnomad
@theinternationalnomad, the only stupid question is the one you don't ask! By 'taking profits' in BTC, my connotation is to transfer it to an altcoin that isn't quite so bullish. True, you could transfer funds back into fiat, but for me fiat always goes to crypto, and *never* from crypto to fiat. But that's just me.
@quantguy, This makes so much sense! I invested in bitcoin around three months ago and have generally been pretty diversified. However, I have seen the value in riding the bitcoin / alt-coin train until the point of wanting to take profits, as I see the downside risk nearing, but never know what strategy to adopt - tether, fiat, or alt's that are solid. I also never see the point in taking fiat profits as it will, as you mentioned, go back into crypto eventually and sending to an exchange just to sit on it in there, doesn't seem right. Thanks for the advice, it makes a lot of sense... Keep up the good work! :)
quantguy theinternationalnomad
@theinternationalnomad, Thanks for your interest in my posts! I'm glad you've been able to be profitable off cryptos! I don't want to make this a sales pitch, but personally I use my Altcoin Index and Crypto Spread Indicator to know where to allocate funds. I'm sure there are other good strategies out there.
@quantguy, I'm still learning all of this and it helps to follow and learn from guys such as yourself. I invested quite heavily in July but unfortunately took the brunt of the great alt-coin depression from September but have learned so much since then. I've now all but doubled my investment and see trends like I didn't before - knowing when to play bitcoin against alts, and vice versa is an art form, which is kinda why I poised the question regarding taking profits as it never really seemed prudent to pay out into fiat, if you could ride an alt after, or bitcoin, depending on what trade setup was first taken. I see bitcoin in a resting period, maybe even consolidating before a correction before the push higher, but didn't really want to take profit into fiat as well, it kinda seems pointless... Your advice has helped. Thanks again! :)
quantguy theinternationalnomad
@theinternationalnomad, I post on cryptos daily, so I'm glad it helps! Yeah, putting funds back into fiat doesn't really make sense, since I foresee more venues accepting cryptos. The rest of the world outside the top 1% who are sick of the rigged central bank/oligarch game will gradually start to adopt them more and more.
+1 回复
@quantguy, Totally agree..... :) Thanks again!
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