How much money from my profits i should put in bitcoin ? - page 6.

Franctoshi

hero member

Activity: 1022

Merit: 600

Quote from: new19980 on November 18, 2024, 04:23:55 PM

Hi im trading altcoins on exchanges for years now and i was always withdrawing like 60-70 percent of my profit
and buy bitcoin for the rest (30-40 percent) but since btc price is highly increased you think i should just keep
doing the same or i should buy USDT instead with that 30-40 percent meant for bitcoin and store it in a safe wallet
like trezor till btc price drop or till we see a new bear market then buy btc with that saved USDT Roll Eyes

No one is responsible for your risk only you alone because you knows the level of your income, how much that usually comes in, and what amount to be used which would not have effect on your expenditure, people can only tell you from their investment perspective, how they go about their own investment, then if you eventually finds anyone attractive to implement then good for you, but you're liable of every decision that you would make.

Mayor of ogba

sr. member

Activity: 476

Merit: 316

Get $2100 deposit bonuses & 60 FS

Quote from: new19980 on November 18, 2024, 04:23:55 PM

Hi im trading altcoins on exchanges for years now and i was always withdrawing like 60-70 percent of my profit
and buy bitcoin for the rest (30-40 percent) but since btc price is highly increased you think i should just keep
doing the same or i should buy USDT instead with that 30-40 percent meant for bitcoin and store it in a safe wallet
like trezor till btc price drop or till we see a new bear market then buy btc with that saved USDT Roll Eyes

Even if I advise you on how best to go about this matter, you will not take it seriously because you look more like a trader than a long-term bitcoin investor, but I will still go ahead to tell you what to do. At this point you are confused and you don't know what to do. Since you have already started accumulating bitcoin with the profit you are getting from trading altcoins, I will advise you not to pause your bitcoin accumulation journey; just continue accumulating bitcoin with the DCA strategy because there is no better time to accumulate bitcoin than doing it when your discretionary income is readily available and you use it to accumulate bitcoin right away, and waiting for a bear market is not a good strategy, and it will delay your bitcoin accumulation journey because you are not certain if it will happen today or tomorrow. But if you are still concerned about accumulating bitcoin in a bear market, you can divide your bitcoin accumulation money into two equal parts and use one part to accumulate bitcoin consistently with the DCA strategy, which will allow you to be active in accumulating bitcoin and use the second part to accumulate bitcoin in a bear market.

BitMaxz

legendary

Activity: 3500

Merit: 3249

Happy New year 🤗

I do not think it is a good idea to invest in BTC at the current price, but if you can wait for retracements, that is a good time to buy BTC because it is cheaper than buying near the new ATH because you might regret it later if the BTC price fails to break the $93k level.
Currently, BTC is pretty stable at around $90k. Maybe you can buy BTC below $90k if it breaks that level or buy later once it breaks the $93k level. This is a breakout strategy that is usually used by pro traders out there. If you monitor the price before it breaks the previous ATH, you should notice that once it does, there is a lot of buying pressure, which is a good sign that the price will rise even more.

EL MOHA

sr. member

Activity: 644

Merit: 298

Quote from: new19980 on November 18, 2024, 04:23:55 PM

Hi im trading altcoins on exchanges for years now and i was always withdrawing like 60-70 percent of my profit
and buy bitcoin for the rest (30-40 percent) but since btc price is highly increased you think i should just keep
doing the same or i should buy USDT instead with that 30-40 percent meant for bitcoin and store it in a safe wallet
like trezor till btc price drop or till we see a new bear market then buy btc with that saved USDT Roll Eyes

In as much as I will say there is no one that can actually tell you what to do or invest your profits into, I will say for a longer time frame bitcoin is my best guess, I get the logic you’re playing here of actually waiting with funds for bearish periods to buy more bitcoin which is not bad because the best period to buy bitcoin is bearish periods as there are dips you catch there but one thing still remains of bitcoin which is there is no guarantee of a dip or where the lowest price might actually be the current price it is today, so my advice is to continue with the DCA and not focus at the price if bitcoin until you get the amount of bitcoin proportion you want

RockBell

sr. member

Activity: 1008

Merit: 392

Underestimate- nothing

Quote from: new19980 on November 18, 2024, 04:23:55 PM

Hi im trading altcoins on exchanges for years now and i was always withdrawing like 60-70 percent of my profit
and buy bitcoin for the rest (30-40 percent) but since btc price is highly increased you think i should just keep
doing the same or i should buy USDT instead with that 30-40 percent meant for bitcoin and store it in a safe wallet
like trezor till btc price drop or till we see a new bear market then buy btc with that saved USDT Roll Eyes

Bitcoin's price has increased, but how sure are you that it’s not going to go higher? Bull run haven't even started yet, you still have the opportunity to accumulate more bitcoin. Your strategy is really a nice one, and I will recommend you continue like that, bitcoin price is still kind of low. Since the bull run haven’t started yet, if you keep on accumulating bitcoin now and sell during the bull run, then leave the money in USDT and wait for the next bear market, and buy back your bitcoin, don’t you think that’s going to be better? Your money is not even supposed to be in stablecoin when we are expecting a bull run soon.

And like I always say have a budget of what you want to invest the capital sometimes determine what you will get from the market the concentration have to be the profit and what will determine that will not be a difference from the capital you might not have enough but the little you have you just have to trust it and develop it start small and finish big it's a good goal.

Coyster

legendary

Activity: 2184

Merit: 1302

Playbet.io - Crypto Casino and Sportsbook

From what you wrote in your OP, i can deduce that you have been buying bitcoin for many years now, we can say you are using the DCA strategy. So i think you can continue buying as you have been doing, because you have been buying at different (lower) prices, so the high price right now wouldn't really affect you and also cause bitcoin price is predicted to continue rising.

Ever-young

sr. member

Activity: 1414

Merit: 272

Get $2100 deposit bonuses & 60 FS

Your decision of what to convert your profit to should be based on you and not what you are advised to do by others. The Bitcoin price now might seem very expensive for some people, but the price will still definitely increase over time.

If you still want to convert your profit to USDT, it's still not a bad idea, as you can be able to maintain the stable coin as profit rather than leaving it on Altcoin, or you can still invest some of the profit in bitcoin and leave some in USDT since you are not too sure of price movement; at least you won't have much to worry about if there is a negative change in the Bitcoin market.

Davidvictorson

hero member

Activity: 1190

Merit: 901

Livecasino.io

Quote from: new19980 on November 18, 2024, 04:23:55 PM

Hi im trading altcoins on exchanges for years now and i was always withdrawing like 60-70 percent of my profit
and buy bitcoin for the rest (30-40 percent) but since btc price is highly increased you think i should just keep
doing the same or i should buy USDT instead with that 30-40 percent meant for bitcoin and store it in a safe wallet
like trezor till btc price drop or till we see a new bear market then buy btc with that saved USDT Roll Eyes

Responding to the topic. I should rather ask, how much from your profits are you willing to risk or rather can you afford to lose? This question can only be answered by you as I have rephrased it for better clarity. You see like you already have a good plan in place but no one will tell you what you should do. You should be guided by your own strategy as you alone know what you want out of it . You can read more articles, listen to recent podcasts and other resources to be able to make an informed decision.

Just like the user above has commented, if I were taking a long term approach, I'll pay attention to his last sentence. Once again this is based on my own personal bitcoin/crypto goals.

Upgrade00

legendary

Activity: 2254

Merit: 2406

Playgram - The Telegram Casino

No one can tell you how to invest, you bear the risk so you make the decision.

Quote from: new19980 on November 18, 2024, 04:23:55 PM

till btc price drop or till we see a new bear market then buy btc with that saved USDT Roll Eyes

We are at the start of the bullrun, so you may be waiting a while for the next bear market. What we can have at anytime is a price correction, but this is more unpredictable.

Alternatively, you can buy Bitcoin now and hold, there may be some price corrections but you should have more dollar value for your portfolio in a year's time than you would now.

new19980

member

Activity: 79

Merit: 11

Hi im trading altcoins on exchanges for years now and i was always withdrawing like 60-70 percent of my profit
and buy bitcoin for the rest (30-40 percent) but since btc price is highly increased you think i should just keep
doing the same or i should buy USDT instead with that 30-40 percent meant for bitcoin and store it in a safe wallet
like trezor till btc price drop or till we see a new bear market then buy btc with that saved USDT Roll Eyes

Topic: How much money from my profits i should put in bitcoin ? - page 6. (Read 1344 times)