It's great to see that you have this kind of high hopes for BTC, but it's more likely to be in profit if you keep your funds split into different kinds of coins/tokens so by this you are going to have more chances. Altcoins are riding with the flow of bitcoin it is just following its movement as you can see in the marketcap.
So for me, it is better to have cheap altcoins because you can hold much more,
the more coins you hold the more profit you can make when the coin that you hold rise higher in price.
Topic: Converted all altcoin back to BTC - page 7. (Read 988 times)
Convert your small altcoins to bitcoin but you also have to have a more good altcoins because that's the best strategies in gambling where no one tell you to only hold one coin. I know bitcoin is dominant but its not enough to fully invest on bitcoin. The price started to pump with bitcoin, its a good idea to increase your bitcoin holdings because the best price will soon to come.
I don't know if you have made a good decision but for sure in longterm you can sleep well now. I'm thinking about same decision but for now I'm holding also alcoins.
Damn the bitter truth is there are many good coins and tokens that are way better than bitcoin ,faster transactions speed and lower transaction rates and moreover last bullrun has proven how profitable altcoins can be I think you just make a very bad move my friend you are not doing researchs very well
I think we shouldn't underestimate the potential of altcoins. Many of them are able to grow much higher than Bitcoin grows. It was more prudent to create a basket of bitcoin and altcoins.
Everyone will tell about their view but you have to see that whether the altcoins you sold have potential to grow more when the market recovers then selling now and converting to BTC is not a good idea. But if tommorrow altcoin market goes down then your decision will be good and you can buy back the altcoins in lesser price.
I think an investment portfolio should be balanced and diversify among coins. Altcoins has dipped a lot in price during the past year, is this a good time to convert all to Bitcoin? Well, I hope you made the right decision.
Yes, that can make you profit. Now the price of BTC rises very high and this also makes all coins go up in price. But not entirely, your Altcoin will be converted to BTC. It's better to keep Altcoin because it has a very high chance of going up.
Can't say I proifted much, I paid way too high of fees on the exchanges, lesson learned on who to use and who not to next time. Right now I want to see how this next move shakes out. If I miss out on a big 30% move on some coins, so be it. I will sleep well tonight.
If you choose good altcoin or top 30 in coinmarketcap, i think its worth to hold for long term. But its very wise if we divide our investment in several coin and the main investment is bitcoin. Not all altcoin bad, many altcoin worth to hold for long term.
your biggest mistake is being late which is one of the most common mistakes that newcomers make in the altcoin market. it doesn't matter which coin you bought and how long you held or whether you converted it back to bitcoin eventually, what matters is that your timing was awful!
the market works this way:
- when bitcoin falls, altcoins get dumped. so the option here is to sell everything to fiat
- when bitcoin rises, altcoins get dumped. so the only option here is to sell everything to bitcoin.
- when bitcoin is stable altcoins get pumped. there are two options here. first is to accumulate bitcoin since it is stable and is getting ready for its rise. second is to go to altcoin market and enjoy the pumps.
in all these 3 stages you have to have a good timing. for example in your case you should have sold the second bitcoin started big rises and broke out of $4200 line. that way you could have gotten the most amount of profit. but since you waited until price went as high as $5000 and then dumped your altcoins you got the least amount out with a big loss since altcoins were already dumped by then.
the market works this way:
- when bitcoin falls, altcoins get dumped. so the option here is to sell everything to fiat
- when bitcoin rises, altcoins get dumped. so the only option here is to sell everything to bitcoin.
- when bitcoin is stable altcoins get pumped. there are two options here. first is to accumulate bitcoin since it is stable and is getting ready for its rise. second is to go to altcoin market and enjoy the pumps.
in all these 3 stages you have to have a good timing. for example in your case you should have sold the second bitcoin started big rises and broke out of $4200 line. that way you could have gotten the most amount of profit. but since you waited until price went as high as $5000 and then dumped your altcoins you got the least amount out with a big loss since altcoins were already dumped by then.
I will not make that decision, okay bitcoin does have big users and prices always increase but we also need several altcoins for investment. maybe it's better to invest in bitcoin and altcoins, this will be profitable when bullrun comes and also make sure the altcoin has good development.
Can't say I proifted much, I paid way too high of fees on the exchanges, lesson learned on who to use and who not to next time. Right now I want to see how this next move shakes out. If I miss out on a big 30% move on some coins, so be it. I will sleep well tonight.
At least you profit, it is something that you must grateful with that. And if about that lesson, maybe fees is something that we can't avoid from exchanger. At least they help us to get our profit because can trade in their site.
After every BTC pump, altcoin follow the same trend too. So, logically, you have done a great mistake. Altcoin will be stronger now against BTC. I don't know how you calculate but most of the times, I calculate with BTC only in my investment.
I think that is your decision, and you decide for yourself how you use the coin for Bitcoin or keep on Altcoin. in my opinion there must be an altcoin to keep prices and release to bitcoin when pumped
Only time can say if you made a wise decision to see all alts for btc or not.
From experience, when market is bearish Bitcoin behaves better than alts and losses less from its value. When market is bullish, some good alts can perform much better then btc. At least for now, bearish period seems close to its end.
From experience, when market is bearish Bitcoin behaves better than alts and losses less from its value. When market is bullish, some good alts can perform much better then btc. At least for now, bearish period seems close to its end.
Right now there must be a lot of altcoins that have decreased due to the decline in bitcoin, and in my opinion this is a natural thing, because many people convert their altcoins to bitcoin
They are just following the trend and most of them are satisfied with how bitcoin bring them so they easily convert their coins to btc and collectthe earnings, you just continue planning what your next position and see how things will work for you, there's no assurance but as long as you
are willing to take the risk rewards is much higher.
You have to diversify your portfolio especially if it's not much because just holding a bitcoin will reduce your chances of making profits with other coins. I think if you only hold your altcoin then sell it at the top You will get more profit compared to selling everything for bitcoin.
it would be better to have both now. because what happens when the market is like this, so most people will sell their altcoins to get more bitcoin. whether it's a good or wrong strategy. but now I prefer to have both. 
Can't say I proifted much, I paid way too high of fees on the exchanges, lesson learned on who to use and who not to next time. Right now I want to see how this next move shakes out. If I miss out on a big 30% move on some coins, so be it. I will sleep well tonight.
I understand that your point of view to make this move was not to miss out the profits on bitcoin but according to me you should not have exchanged 'all' your altcoins for BTC.You could have exchanged few of them which had less potential to BTC and should have kept a few potential coins because many times in a bullish run, I have seen altcoins making a bigger move than bitcoin. If this happens again then you might suffer bigger losses in addition to the loss of transfer fees you have already encountered.
Can't say I proifted much, I paid way too high of fees on the exchanges, lesson learned on who to use and who not to next time. Right now I want to see how this next move shakes out. If I miss out on a big 30% move on some coins, so be it. I will sleep well tonight.
I think that's a good plan, especially right now, since Bitcoin has been climbing up in value in the last few days, it's surely a good time to go back to the basics of this market and run after the coin whose value is high or on the climb, and at the current time, it's Bitcoin. Also, I think you can never go wrong with chasing after Bitcoin because it's still the best coin in the market to date. Therefore, even if it experiences falls in value, it would always have the best chance of climbing back up, which in turn, wouldn't make investing in it so bad.
may i know what exchange you are using ? and what are thier fees ? if the service is superb and the coins that you trade are high then i wouldnt mind the fees at all but if its the opposite nah , thats more of a scamming to me . i remeber once i work on a micro ask and they pay me a coin on thier own exchange but the fees were high so its useless , theres no way to withdrew the coins . and about missing the pump , dont worry because that was only a small pump . a real pump didnt happen yet . you can still catch up .
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