Topic: Have 1 BTC in alts should I transfer all to BTC (Read 537 times)

Already you decided that bitcoin is not going to hit $100K or more then no point of converting your alts into bitcoin but I wonders why do you feel like that,bitcoin was evolved from nothing and hit $20K in less than a decade so in the next successive bull run we are going to see the price of bitcoin more than $20K at least so I will convert it into bitcoin but for you,just decide based on your opinion.

Well, have that much potential, but since you have 1 BTC, I think, the better move is to allocate some of it into altcoins that have a good chance of making a good run when the market changes like Ethereum, for example. It has been showing good changes and increases in the past several months, and since its value is not as high as before, it can be a good option to be bought in bulk and to gain a lot of return from when the time comes. However, I only suggested a part because Bitcoin is still the most reliable coin out there.

well, I would suggest selling according to your needs. but if that's the thing you want to put together all the funds you have, I think there's nothing wrong, seeing the current development of bitcoin is really very good.

that was from the past but now we are now on the present and the current value of bitcoin now is already at 5.7xx k usd but still even if the value of bitcoin was cheap i wont still suggest to the op that he converts his btc to alts because btc still got the highest value among other coins and its guarantee that btc can recover and pump compare to other coins out there  .

if he trully want to buy alts then he should buy it using his own cash or any other funds as long as he dont touch his existing bitcoin invstments  .

Definitely no! You shouldn't convert all your BTC into alts. Always make it half. Bear in mind that bitcoin is still the king, and if you have any dilemma that it will soon die, so must all altcoin 'coz they are correlationally proportional to one another. Always leave some funds in BTC to be safe. Look at its history. Whenever bitcoin goes wild, it really soars, and no altcoin can chase it.

The price of bitcoin from the past months was at $3,000. If you have that doubt with altcoins, it's better if you have sell all of your altcoins back then and then bought 1 bitcoin when it was at the lowest price. See the price of btc now,  almost $6k . So if you transferred your altcoin into bitcoin, you had 50% profits by now. Anyway, at the end of the day it will be your own decision after all.

it seems you already have decided what you are going to do? just need some sort of approvals?
based on your post, you are quite comfortable holding onto your altcoins, so... do what your heart tells you
if you don't believe in bitcoin's sustainability, you should keep coins that have direct fiat trade pairs
because when bitcoin no longer exists, any (alt)coin which relies too much on btc will decrease (if not crashed) in value

It is good you take the decisions yourself and be able to make the investment decision yourself . This market is a risky one and when I want to take any decisions I do take them myself and I hardly seck other people opinion.  Many of the altcoins has refused to grow and no one knows if there will start to grow when you convert them to bitcoin and you will have to regret.

First rule on investment world

-Dont invest on the amount that you cant afford to lose (Ex. Life savings) which you have done already
yet it is really very risky to diversify your savings with crypto investments yet anytime this thing can wreck you down.

About on your question and insights.Nothing on this world is permanent and yes bitcoin can be possibly replaced on top spot
yet there are alts that do much more better than btc but basing on the support itself, you can really say that btc
do really have that thing no matter what which do built some confidence that this would push through future but still
its your choice if you diversify into those alts you have mentioned.

Bitcoin is not about transforming lives of people who are living in poverty and it is never meant to be, it is about freedom from financial regulations where you are not able to purchase goods freely with your own money and to overcome hurdles when it comes to international trade, it is far cheaper than traditional banking system when it comes to international transactions and trade, when it comes to personal choice on where to invest the decision is yours on what you think will be biggest game changer in the industry in the long term.

I don't think that is a wise move. Remember the last time we were in 20 thousand dollar levels? Ethereum went to 1500 dollars and all other coins went up like that as well.

Yeah, when the first time bitcoin goes up all other coins drop in bitcoin value but they mostly stay around the same levels in dollar value because of the increase in bitcoin however when there is enough time given they go back to their bitcoin levels whereas the bitcoin is still high so they worth more in dollar value. That is why I am keeping a lot of bitcoin myself but I am not changing my altcoins to bitcoin, I am going to keep them until all this bull is over and I am going to keep having that for a long time. I am not planning on touching any of my coins until I really need them for something personal.

No need for advice. You already made your analyzation and not just a simple guess.

What if I say go all-in BTC, will you follow? Trust your own judgment rather than rely on other people's opinions. Or think of more possible outcomes so that you can each set a strategy.

That's your money after all.

I think you don't need to transfer all to BTC for long-term investment purpose but there will be a time for you to convert all of your altcoins  to BTC in order to save your investment capital, to save your funds.

Yeah it's worth a try, many people recommend diversifying. and it was far more profitable and safer they said. still use bitcoin as the
main investment dude, and you can allocate a few percent to the altcoin, I use that strategy anyway.

Diversified investment is good to earn profit from other coin. If you found another crypto to invest aside from btc which also offer good project then it is good to invest. Although Btc as the top crypto diversifying investment is really recommended as long you know the project.

Then, an alternative decision can be taken. You can exchange half of the altcoins that seem to be not as profitable as you would like to see them to BTC, and the other half will be in Bitcoin.

Altcoins are now cheap, but it doesn't mean they will not rise.
Analyze first how much you can make with investing in bitcoin based on your analysis compared to how much you will loss in altcoins if you transfer it in bitcoin. For me, it's quite complicated, it needs proper analysis and if I'm in your position, I would not touch it, just wait until they will start pumping again.

If you are holding small amount of bitcoin then you should buy more. It should be 30% or 40% of your portfolio and don't need to transfer all to btc. I think you are ok with diversified.

That is true. I have been witnessing the same trend of rise in the prices of Bitcoin and altcoin and the fall in the values of both the coins when the market is going into recession. This is normal for assets in crypto market. Altcoin loose quick value because where we face a loss of $600 in the value of Bitcoin lets say from $5000, a similar loss in ETH could be more than 80% in case in case it falls from $600 to 200 dollars. 

First of all, I don't have to prove anything, that's just ridiculous.

I'm not offering any product or service here, I don't think 1 BTC is even a lot of money tbh, anyone who was in from the start will have WAYYY more than 1 BTC in funds so why I'd lie over an insignificant amount of money when I gain nothing from that lie is just questionable.

Even if I was lying and this was a hypothetical question what difference does it make. It doesn't actually affect anyone here on the forum at all. Regardless, I am not lying and this 'you have to provide proof' business is just ridiculous.

Finally, this is more directed at everyone else who has replied.

I'm not asking for financial advice, I'm asking for opinions, this forum is honestly made up of the most ridiculous and uptight people that are so rigid. You could literally close down ANY topic outside of trading on this forum by saying to everyone 'this forum isn't for financial advice'.

I'm not going to bloody blame others if I make a decision and it's the wrong one, ultimately it's my choice at the end of the day and any decision I make right or wrong I can only blame myself for.

Thank you to those who have bothered to share their opinion and be friendly, I really appreciate that!

I suppose I was trying to gage the rest of the communities response and see if anyone had a thought, opinion or idea that maybe I had not thought of when coming to my conclusion / analysis.

Everyone is throwing out the same old saying's that come from traditional financial trading (Stocks/Forex) etc etc but guys this isn't traditional financial trading, literally this is a WHOLE new playing field and while some of the same rules apply (don't risk more than you want to lose) this is a unique horizon and anything could happen.