they're all red. maybe dai, pax gold, gemini dollar from what i can look online. there's many out there that arent in the major exchanges yet. this market is like like 10 years old..it's a baby. Give it another 10 years and we will have better tools to screen the sectors in this market. But the point is, you said diversifying in crypto is pointless cause big dogs like bitcoin just drives everything. In major correction, sure, everything is pretty much correlated like the equity market example i gave from today. But your case of "why diversify when everything is red" just doesn't make sense.
When crypto's go up believers have fun laughing with the "missed opportunities" of the non believers. So it is logical that this works in both ways. Believers as well as non believers have reasons why they do what they do. They both also know the advantages and disadvantages of what they do. Nobody should feel pity for anybody else. Both groups have chosen for what happens with them.
... And I was one of the earliest and most fervent critics of cryptos here on this site... I stand here and feel some sort of vindication. But I never take amusement in others' losses.
One thing to keep in mind is Bitcoin dominance. Bitcoin dominance was high early this year, but now it has fallen dramaticly. What does this mean for alts? It means now that dominance has fallen, alts have more of their own price action, which is why it will be called "Alt season." When Bitcoin crashes is when alt season will begin, and may even see some new ATHs for alts.
None of you can (afford to) structure a short, so just stop. None of you own more than 1-2 BTCUSD, so stop. You're embarrassing yourselves.
Why should he go short? I am a non believer too. I never went short as I would never trade any position in something that I call a scam. Everybody who makes money, laughs. That's not limited to crypto believers.
Feisty Pek I thought you would be in a more joyful mood I repeat again, over several months it provided my portfolio the risk/reward advantage of smoothing out volatility I was hodling BNB and CAKE which gained 100's of % and gained $ valuation even times of btc selloffs Obviously, the past few days, things are going nuts (crashing) on all cryptos. Look at the words in bold No offense but you would not know. I mean those underlined words
All depends of how big the crash is and how big the advantages were... But I think what you did makes sense. I would do that too.