Hi Luc,
I appreciate your videos. I am new to the bitcoin market. I invested some money in bitcoin through Binance. Then I bought ethereum and Cordano. I lost 30% of my investment since 1/31. The Ethereum is depreciating in terms of bitcoins. I thought bitcoins and dollors are the same charts. I mean if the price of ethereum bullish in dollors, that means it would bullish in bitcoins. However, the chart now is showing different thing. What is your advice? Do you think I should hold the altcoins? or Sell them?
Hi chadijazzar, I'm sorry for your losses and would like to address your questions. Hope it will be of some help.
Here is my way to think about it. The price of Ethereum over USD is one thing. The price of Ethereum over BTC is another. If you look at ETH/BTC chart, the ETH price displayed on the chart is relative to BTC. Therefore, if, for example, ETH price over USD is moving up slowly, but BTC is moving up in USD value twice as fast, then what happen? The answer is in ETH/BTC chart, it will show chart is going down.
Just to be clear, I'm not saying the chart will automatically move. It's still the market that make it move, but because they're relative in price to each other in nature, the market will make them stay relatively correctly with one another.
Luc is a trader and this is a trading blog. I don't think you can get investment advice from him. Maybe there are better places for your answer. But since you're here, why don't you just use your coins to trade!
Thanks a lot