I see a lot of posts on Twitter and a lot of new traders making one very big oversight; the relationship of bitcoin to altcoins is very important.
It's important to point out the relationship of bitcoin and altcoins that a lot of new traders overlook. Not all altcoins follow bitcoin exactly but most do so it is important to do your technical analysis and due diligence on bitcoin.
Saying that, if bitcoin drops 10% an altcoin may not dip exactly 10%... maybe IOTA drops 8% or Tron drops 5% but rest assured they will more than likely drop to some extent. Here is a good comparison of bitcoin vs XRP vs IOTA an you will notice that each peak and valley may be slightly different but the trend it follows matches bitocin closely.
Trade safe, learning technical analysis, and stay away from pumps and hype you will just lose money. Myself, if i am part of any social media group and I see a lot of FOMO or pumps and hype I generally leave the group.
@crytpmarc
It's important to point out the relationship of bitcoin and altcoins that a lot of new traders overlook. Not all altcoins follow bitcoin exactly but most do so it is important to do your technical analysis and due diligence on bitcoin.
Saying that, if bitcoin drops 10% an altcoin may not dip exactly 10%... maybe IOTA drops 8% or Tron drops 5% but rest assured they will more than likely drop to some extent. Here is a good comparison of bitcoin vs XRP vs IOTA an you will notice that each peak and valley may be slightly different but the trend it follows matches bitocin closely.
Trade safe, learning technical analysis, and stay away from pumps and hype you will just lose money. Myself, if i am part of any social media group and I see a lot of FOMO or pumps and hype I generally leave the group.
@crytpmarc