I have Converted a nice portion my bitcoin and ether portfolio to USDT on the last couple of days when bitcoin was up doing its mini bull run to the maximum of 11,700$ as seen in this chart:
It seems that bitcoin reached a resistant level at this price and is now doing another not so small correction.
I thought it will happen because I think it will take time for bitcoin to get back to the highs introduced on the first half of december when it was on a major bull run that was caused mostly by weak hands trying to get reach quick as bitcoin futures was announced to be traded at stock market.
Now Im hoping that we got rid of those weak hands and most of the people that is in now are smart money who understand what bitcoin is and believe in it and therefore will not buy like crazy or sell like crazy - these are the people that we need in bitcoin.
now Im trying to figure out if its "shopping time" for cheap crypto (for me atleast :)) or that I sould wait a little more after the weekend as most of the times weekends tends to bring the prices further down.
in any case I can see now that I've made a smart choise by selling some of my cryptos to USDT firstly because of the reason that I described above that I can buy back more crypto then I got before, now that everthing is low and secondly, I like the fact that I own a coin that is not moving constantly in price value, this gives me a sense of stability, even though I could potentially lose if bitcoin suddenly goes on a second major bull run - Im willing to take that lost just for that feeling, this is just a portion of my portfolio (about 30%)
Crypto maniac out