Topic: Have 1 BTC in alts should I transfer all to BTC - page 2. (Read 537 times)

I don't believe in the long term success of bitcoin


Isn't that that wrong mindset to transfer my alts all into BTC?

What should I do?

Well, we all have different opinions and expactations from crypto.
From my dexperience, when bitcoin grows alt coins grows even faster but when the bitcoin fall altcoin falls even faster.
I had some funds before invested in alt coins but I decided to move everything in bitcoin in order to preserve the value of my portfolio.
This is answer based on my experience.

Hi all,

Looking for some advice.

Here is my predicament, I have around 1 BTC that is spread out, some in BTC some in ETH, BCH, BNB & other altcoins.

My question is, do I keep my portfolio diversified or do I trade it all in for 1 whole BTC and then build up my alts again over time.

Here's my biggest issue and I know this will probably cause some controversy and I'll have a lot of people disagree with me BUT:

I don't believe in the long term success of bitcoin

Honestly, in my opinion, the advantage is has right now is that it's a first mover, the first Crypto and has HUGE brand awareness.

Do I believe BTC will ever reach zero or be worthless? No, do I think it can reach £100k per coin or more, potentially YES but I believe that the reasons it will get there are all wrong. I believe it will get there purely on it's reputation, brand awareness and it being the first and biggest crypto. Utility wise, I just don't think it's a strong project anymore.

There's countless coins out there that do what BTC does now but better, cheaper, faster, more secure, more utility etc etc.

I think because of the amount of money invested, it will continue to grow because of the reasons I mentioned above, because of speculation, because of FOMO and a wide range of other factors.

Obviously, I could be wrong and I think just brand awareness and being the first to market will be enough to watch Bitcoin keep climbing but if I were a gambling man and had to take a shot in the dark right now, I'd say that in 50 years time, I don't think BTC will be sat at #1 on CMC.

So what would you guys do in my situation, would I be foolish to not trade it all in for 1 BTC and then build up my alts from future savings or do I keep it diversified like I currently have.

There was a time when I was fired up about Bitcoin, everything it stood for, privacy, low fees, fast transactions how it could revolutionise the economy around the world and disrupt the banking sector and help those living in poverty and developing countries.

I still have great respect for Bitcoin, every coin or token that has followed has Satoshi and Bitcoin to thank but when I read the previous sentence, I don't believe Bitcoin actually does what it set out to do anymore, it's neither fast or cheap and it's not transforming the lives of those living in poverty. I'm just not passionate about Bitcoin and do see it as just a store of value now.

Isn't that that wrong mindset to transfer my alts all into BTC?

What should I do?

First of all all newb / jr.members on this forum that claim they got 1-100 bitcoins are actualy are just spammers so you have to prove that you've got those coins.
Second is that everything depends on what you want to achieve. If you need to get some bigger profit then you may buy all those shitcoins and wait for pump. If you want to keep your money safe then just buy BTC. It have a larger cap and during all recent price changes it's correction was always not that hard that the other coins had. So if you are goind to hodl instead of speculation then buy BTC.

What should I do?

It sounds like you are trading intermediately or as a swing. It's hard to predict this market, but generally the alts perform better during bull markets, and bitcoin tends to lead the charge and be more stable. While you may gain more percentage-wise with the alts mentioned, bitcoin is more of a sure bet according to many analysts. It's really up to you, because there is always a chance bitcoin may take up a greater percentage of the total market than previously due to investors fleeing to safety. No one can give you the right answer, because the market is too uncertain.