To preserve your crypto holding position, short BTC against ETH
Updated
You can prise BTC as much as you want, it does rule the whole crypto market (today), but right now, at this particular BTC/ETH ratio, there is simply no room left for Ethereum to fall any further! It is at the all-time bottom now!
If it does, it basically means that the general public states "f..ck blockchain technology altogether"! This cannot possibly be the case, because the public's perception of the technology is most definitely positive.
Let's just get real, ok?! Ethereum is, at the absolute minimum, number two cryptocurrency (I do personally think, however, that Ethereum took over the "lead', per its design) and while BTC market pricing is 100% hype, Ethereum, with all of it's "altcoins" (you'd say) and tokens, is actually baked by all of the ICOs combined. Good or bad, surviving ones or not, scams or not, people did put the actual money into thousands of ICOs!. This means that, unlike for BTC, there is actual financial backing of the whole Ethereum network. Thus, by simply not knowing which tokens to sell to get the Ethereum to then sell (per market trend), the public will simply not sell much of anything related to Ethereum and THIS is what will keep the Ethereum pricing being RESISTANT to the current market downtrend.
Conclusion: If you are hesitant to get ALL into fiat (good for you!), but you DO realize that BTC has been heavily manipulated (pumped up), you can short sell BTC vs. ETH. This way, you cover all possible further scenarios:
1. If BTC keeps crashing with practically NO apparent "bottom", believe me, ETH will NOT, thus you gain on "ratio".
2. If BTC reverts into the uptrend, believe me, ETH will follow, thus you, at minimum, stay "neutral".
3. If BTC stays "neutral" the BTC/ETH ratio will grow in favor of ETH, because it is obviously oversold, thus you gain.
If it does, it basically means that the general public states "f..ck blockchain technology altogether"! This cannot possibly be the case, because the public's perception of the technology is most definitely positive.
Let's just get real, ok?! Ethereum is, at the absolute minimum, number two cryptocurrency (I do personally think, however, that Ethereum took over the "lead', per its design) and while BTC market pricing is 100% hype, Ethereum, with all of it's "altcoins" (you'd say) and tokens, is actually baked by all of the ICOs combined. Good or bad, surviving ones or not, scams or not, people did put the actual money into thousands of ICOs!. This means that, unlike for BTC, there is actual financial backing of the whole Ethereum network. Thus, by simply not knowing which tokens to sell to get the Ethereum to then sell (per market trend), the public will simply not sell much of anything related to Ethereum and THIS is what will keep the Ethereum pricing being RESISTANT to the current market downtrend.
Conclusion: If you are hesitant to get ALL into fiat (good for you!), but you DO realize that BTC has been heavily manipulated (pumped up), you can short sell BTC vs. ETH. This way, you cover all possible further scenarios:
1. If BTC keeps crashing with practically NO apparent "bottom", believe me, ETH will NOT, thus you gain on "ratio".
2. If BTC reverts into the uptrend, believe me, ETH will follow, thus you, at minimum, stay "neutral".
3. If BTC stays "neutral" the BTC/ETH ratio will grow in favor of ETH, because it is obviously oversold, thus you gain.
Trade closed: target reached
Time proven prediction. The ratio could only go up since back in 2019!
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