I have an idea, but i’m not sure if it would work, would like to hear the opinion of someone more experienced. This is the scenario:
I have certain amount of bitcoins worth, let’s say, 1000$ . Market start crushing and bitcoin price goes down. I don’t wanna end up with 900$ worth of my investment so the best way to “save the value” would be to convert bitcoin to some fiat (during the 1000$ level) and buy again when price start raising from the bottom. That’s clear but that process is slow as price can change a lot while my transaction is getting processed.
What i was thinking – would it work if i (when i see bitcoin price will go down) convert all my exchange-stored bitcoins to some pegged currency like USDT or NBT to save my $ $ $ while bitcoin price is going down and buy again (convert USDT -> BTC) once price starts going up?
Would that work?
Also, if that would work, i’m thinking about using that method for getting profit every time bitcoin price changes for few dozen dollars.