Topic: Have 1 BTC in alts should I transfer all to BTC - page 3. (Read 537 times)

It depends on your assessment of the market. No one can give you a definite answer to this because each of us has it's own strategy and preference when it comes to bitcoin and alt.

Whenever bitcoin starts moving and recovering I usually put most of my money on bitcoin and this time I sell most of my shitcoin since some alts are affected by this. When bitcoin price is stable, I watch out for alts because some alts are profitable during this time. Well, when the market starts being bearish, I diversify my investment and add up some more alts and bitcoin for future purposes.

you shouldn't even be asking this question and instead do whatever your own logic tells you even if it is wrong. this is not a financial advice forum and people will always give you biased opinion. so if you really  "don't believe in the long term success of bitcoin" then don't convert anything to bitcoin and continue bag holding altcoins.

unless you have actually used and tested any of them you don't get to say this just based on their advertisement. the fact is they "seem" better but in reality when you test them you can see how worse they are.

Here's where most people are wrong. I get it, being slow is annoying when trying to transfer funds without you willing to pay almost a dollar, but not because it's quite slow right now(compared to alts), it doesn't mean it will be slow forever. Technology moves forward and people are definitely working on making bitcoin better. As with more secure, I heavily disagree. Name one coin that's "more secure" and more decentralized than bitcoin.

As with converting all your alts to BTC though, in a trading perspective, it depends on what you're going for. If you want to have a much safer investment, then sure move them to BTC. But if you're more of the high risk high reward gambling sort of guy, then alts are for you. I'm personally holding a decent number of coins for trading purposes, but majority of my funds are still in BTC to slightly decrease my risks(as if holding BTC isn't risky enough).

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.

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?