Hi guys, the reason I am posting this is because many users are asking me to chart altcoins vs USD instead of vs BTC. I won’t be trading or charting any alts vs USD and the reason is simple:
Let’s take Ethereum as an example.
If ETH is going up against USD but going down against BTC that means BTC vs USD is doing better than ETH vs USD. Then why would you have your money into ETH vs USD if you know you’ll have more profits having your money into BTC vs USD?
If ETH is going up against USD and BTC is going down against USD, this means that ETH vs BTC is doing even better than ETH vs USD. So again, why would you trade ETH vs USD if the profits are bigger in ETH vs BTC?
Any way you look at it you will always make bigger profits if you trade against BTC only.
Any coin going up against USD but going down against BTC equals BTC doing better against USD than that altcoin, then is best to not trade that altcoin & stick to trading/holding bitcoin.
This is the reason I will only use USD to trade it against BTC, not altcoins.
Only when BTC is expected to go down against USD I will put my money into USDT before if I can anticipate the crash. And I will continue to trade the altcoins that are doing good against BTC. Only when BTC and alts are going down against USD I will put everything into USDT & wait for the correction to finish so that then I can buy more BTC for cheaper than I sold.
Please leave your comments below and feel free to correct me if I am wrong, but so far I find this to be the best logic.
Cheers & see you soon