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For example, I bought a small amount of PLU around the 300,000...

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traderforever

27,533 Posts.

94

03/09/17

09:02

Post #: 26957586
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Originally posted by traderforever ↑

That's what I was saying a few days ago, if BTC come crashing down for example 50% but the Alts make a 100% gain, you really haven't made anything at all. The USD of your holdings would be the same as when you started.

So now if BTC crashes and your altcoin you bought stays exactly the same in terms of comparing it to the satoshi value, you are making a loss when looking at the fiat value in USD or AUD. The market cap of your altcoins goes down if BTC goes down in this example.

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For example, I bought a small amount of PLU around the 300,000 satoshi mark two days ago. Price was about USD$14.95. Right now it's still around the 300,000 satoshi mark, but the price is about USD $13.55. Even though the prices on the charts when comparing PLU/BTC hasn't gone anywhere, I've lost about USD$1.50 and Coinmarketcap is showing PLU is down 22.69%. All due to BTC getting smashed.

Last edited by traderforever: 03/09/17
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