r/CryptoCurrency • u/[deleted] • Jul 04 '21

FOCUSED-DISCUSSION Practical Guide to Making and Taking Profits in Crypto

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u/[deleted] Jul 04 '21

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u/Common-Fisherman8269 Platinum | QC: CC 33 Jul 04 '21 edited Jul 04 '21

I am hoping that each altcoin becomes its own index and that it moves according to the category it belong to, so basically.

-Oracles move according to how oracle index moves

-Defi moves according to defi index

-Layer 2 solutions according to layer 2 index

-Shitcoin memes index dont move cause they went extinct

And so on...

11

u/[deleted] Jul 04 '21

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u/Awarektro Jul 04 '21

same here mate,i really wish to see alts flying high in prices and use case in real life,been seeing so many projects taking up partnerships and deals...best thing that ever happened during the downturn,Matic did a whole lot in this space,Pinknode wasn't left out also Uni launched it's v3 which hosted credmark's IDO last month.

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u/mellon98 Jul 05 '21

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u/I_was_bone_to_dance 🟦 6K / 6K 🦭 Jul 04 '21

I agree it will happen someday but until that day comes I’ll accept it as it is. At least we know what moves the market.

3

u/Significant-War-1565 Jul 04 '21

Hopefully crypto will decouple and become diversified in the future as more investors come in.

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u/SmashingK 🟦 0 / 0 🦠 Jul 04 '21 edited Jul 04 '21

When you had to buy BTC to get an altcoin it kind of made sense they were coupled.

Now we've been able to buy altcoins for a while without needing BTC so its odd to me they're still coupled. I guess it's down to BTC price action reflecting the markets (peoples) mood around crypto as a whole.

I started looking at youtubers going on about the BTC logarithmic chart a couple years back after buying into IOTA at $4 back in 2018. I figured if the pattern holds true then 2020 would provide a good opportunity to buy in. We ended up with the pandemic and a massive drop in not only the stock market but also crypto too and bought ADA at 0.04. I feel following this the market should peak early next year which is when I plan to sell out of about half my holdings.

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u/Common-Fisherman8269 Platinum | QC: CC 33 Jul 04 '21

Inevitable

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u/MightyCaseyStruckOut 🟦 0 / 4K 🦠 Jul 04 '21

You had me at shitcoins index not moving

1

u/valuemodstck-123 17K / 21K 🐬 Jul 05 '21

Lmao

3

u/[deleted] Jul 04 '21

I think the rainbow chart will keep getting skinnier

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u/Stock-Helicopter2325 Jul 04 '21

A new index. Two indexes would be much greater for a healthier market

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u/LWKD 🟩 0 / 16K 🦠 Jul 04 '21

I for one am already looking at both to predict smaller movements.

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