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Topic: Is there any reason to day trade anything other than bitcoin? - page 13. (Read 20897 times)

legendary
Activity: 2898
Merit: 1253
So anyway, I applied as a merit source :)
Ys that is right that there are so many other crypto currencies, which are to much good and having good potential, although they are currently trading undervalue and therefore we can expect that if we will put our money there, we can get a very good profit from there.
Its important to identify those undervalued coins and take your share of them while they are still at dirt cheap price or those which you missed during ICO and want to enter into now. The bearish trend is still continuing and though the 24hour market price is green there is still dumping going on in between the green waves of bitcoin ethereum and other altcoins. This is still the best time to enter the market before the bull run this year end.

We can see every day some altcoin become the biggest gainer. So trade BTC with others altcoin is way to increase BTC, and do not forget use stop loss to avoid big loss from altcoin crash.
The daily gainers and looser list is baised and pumped everyday. The organic growth occurs through the demand and supply not the whales pumping shitcoins. Hence you should be careful of sudden pumps of any never-heard-of coin.
full member
Activity: 588
Merit: 100
If we have purpose to increase amount of BTC we should trade that BTC with others altcoins, this way is risky so we should be carefull and make better prediction when time to buy and how many percentace of profit that we should be take it. We can see every day some altcoin become the biggest gainer. So trade BTC with others altcoin is way to increase BTC, and do not forget use stop loss to avoid big loss from altcoin crash.
hero member
Activity: 1344
Merit: 502
Of course it is, every other cryptocurrency around the stage is perspective to have this volatility that bitcooin has, so you basically can have your profit from all the different cryptocurrencies around.
Ys that is right that there are so many other crypto currencies, which are to much good and having good potential, although they are currently trading undervalue and therefore we can expect that if we will put our money there, we can get a very good profit from there.
legendary
Activity: 2898
Merit: 1253
So anyway, I applied as a merit source :)
I believe there is a way like what's going on now that some people are chasing to make profits for a marginal trading or some switch in forex trading temporarily. 
They would need experience in forex market for that. That said some people here other than investing and trading crypto are also interested in precious metals sector and the stock market and commodity market. However that is not the topic of discussion here but altcoin trading. Alts can be bought at low price to sell at high price.

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The other way around is to keep on your strategy buy in dips and hold for a long term.
People may not need to hold for long term at this time. I suspect a bull run later this year so mid term hodling is needed.
sr. member
Activity: 462
Merit: 250
Well if people are making money with bitcoin's fluctuations then you basically can't tell them to stop. Fluctiations can be taken advantage of when you day trade that even bear markets can produce decent profit.
I dont see anything other than holding or buying the dip when you enter a bearish trend. Its the time to stock up and get ready for a bull market as people keep on making FUD comments in every social media. You can try placing order to test the resistance of the market and the market movement trend but in my opinion thats not necessary for those who are not trading professionally but as a hobby.

Of course it is, every other cryptocurrency around the stage is perspective to have this volatility that bitcooin has, so you basically can have your profit from all the different cryptocurrencies around.
Thats not totally true. If you enter altcoin trading you need to do extensive work on its history market and also the current price trend. If you can make money off trading it then its worth the risk though.
I believe there is a way like what's going on now that some people are chasing to make profits for a marginal trading or some switch in forex trading temporarily. The other way around is to keep on your strategy buy in dips and hold for a long term.
legendary
Activity: 2898
Merit: 1253
So anyway, I applied as a merit source :)
Well if people are making money with bitcoin's fluctuations then you basically can't tell them to stop. Fluctiations can be taken advantage of when you day trade that even bear markets can produce decent profit.
I dont see anything other than holding or buying the dip when you enter a bearish trend. Its the time to stock up and get ready for a bull market as people keep on making FUD comments in every social media. You can try placing order to test the resistance of the market and the market movement trend but in my opinion thats not necessary for those who are not trading professionally but as a hobby.

Of course it is, every other cryptocurrency around the stage is perspective to have this volatility that bitcooin has, so you basically can have your profit from all the different cryptocurrencies around.
Thats not totally true. If you enter altcoin trading you need to do extensive work on its history market and also the current price trend. If you can make money off trading it then its worth the risk though.
member
Activity: 255
Merit: 10
Of course it is, every other cryptocurrency around the stage is perspective to have this volatility that bitcooin has, so you basically can have your profit from all the different cryptocurrencies around.
full member
Activity: 1064
Merit: 112
When you only buy Bitcoin and keep it in wallet, it's a waste of time and money. When Bitcoin is used to invest in Altcoin, it is reasonable and you will have more money to buy Bitcoin and increase Bitcoin value than original.
yes maybe holding is a waste of time but converting into altcoin as well for me is not really safe. Wherin in my opinion even bitcoin always suffering because of the volatility i believe there's still a huge gain after .than altcoin.  And indeed there is a huge difference between alt and btc when it comes gaining profits.  , which is  altcoin  so stagnant than bitcoin.  And bitcoin always showing potential after. 
So i think much better to invest or trade and etc in bitcoin.  
hero member
Activity: 1246
Merit: 529
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Stop day trading with bitcoin which is the thing causes too much price fluctuations and disturb the long term investors.Day trading can be quite profitable with crypto currencies in short term but you keep buying and selling the coins for a while you will have nothing substantial profits in long term so be a investor and let live the bitcoin longer by holding it.You still have lot of other crypto currencies go and day trade with it and make some money.

Well if people are making money with bitcoin's fluctuations then you basically can't tell them to stop. Fluctiations can be taken advantage of when you day trade that even bear markets can produce decent profit.
legendary
Activity: 2898
Merit: 1253
So anyway, I applied as a merit source :)
Day trading is more risky than every other form of trading and because of this I will prefer bitcoin to other coins because of the fluctuations in pricing.  Bitcoin is a bit more stable and highly predictable compared to other coins.
Bitcoin being more stable is the one that you can take advantage of being less risky on a short term. You can simply set sell orders in the bull market and then buyback coins at lower prices in the bear market - like at the time of writing this post bitcoin is around 6.5k USD and this is good time to buy. THough I have a feeling that price might drop to 5k USD ish soon if panic selling/dumping continues.

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Many of those coins can be manipulated by pump and dump group.
If you follow any such group you can actually take advantage of the opposite side trade. But its risky and not recommended.
full member
Activity: 882
Merit: 126
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Stop day trading with bitcoin which is the thing causes too much price fluctuations and disturb the long term investors.Day trading can be quite profitable with crypto currencies in short term but you keep buying and selling the coins for a while you will have nothing substantial profits in long term so be a investor and let live the bitcoin longer by holding it.You still have lot of other crypto currencies go and day trade with it and make some money.
full member
Activity: 980
Merit: 114
Serious discussion please.

Obviously some alts can have significantly bigger gains than bitcoin when it comes to long term and bull runs, the last bull run from 6k to 10k for example, sure bitcoin was strong, almost a 2x but some of the top alt coins did more than a 2x even 3x. However that's only long term.

Short term I don't see any reason to trade anything other than bitcoin, especially knowing how little volume some of the other coins have, even top 10 alt coins, for example stellar only has 33m volume. So my question is, what's the point of trading stellar, for example, instead of bitcoin? You know that even if you are a whale and trade a lot, you wont be moving the market as much, if you have 1m and you trade stellar, that's already huge and we all know the 33m volume is probably not even real, a lot of it from bots trading.

It's also much easier to follow bitcoin because, well, the whole market follows bitcoin. Bitcoin dictates where the market goes.
Day trading is more risky than every other form of trading and because of this I will prefer bitcoin to other coins because of the fluctuations in pricing.  Bitcoin is a bit more stable and highly predictable compared to other coins. Many of those coins can be manipulated by pump and dump group.
hero member
Activity: 798
Merit: 503
It is bitcoin that is good for long term trading, and altcoins, for the daily. Altcoins are more volatile than bitcoin, they can drop -10%, and then make + 30% (in a relatively short period of time). Accordingly, with the same investment, you will definitely get a much higher profit. I started trading with bitcoin, and I traded altcoins in parallel, and within a month I realized that trading with altcoins was much more profitable.
legendary
Activity: 1386
Merit: 1058
Probably higher risk and higher reward deal. If you invest into bitcoin than yeah you can make some money off it and it swings a lot however if you find some obscure coin that you really don't know what crazy stuff think it will do than you have yourself either a way to burst all your coins and lose a lot or you have yourself something that can go like x100 in couple weeks from the trades you do from the swings.

I really like bitcoin and prefer investing rather than trading however if I wanted to make a lot of money myself than I would have selected the second option to make more money from risky coins with the money I am willing to lose (or basically can afford to lose) so I have a chance at getting that into thousands instead of just couple bucks profit.
legendary
Activity: 2898
Merit: 1253
So anyway, I applied as a merit source :)
Serious discussion please.

Obviously some alts can have significantly bigger gains than bitcoin when it comes to long term and bull runs, the last bull run from 6k to 10k for example, sure bitcoin was strong, almost a 2x but some of the top alt coins did more than a 2x even 3x. However that's only long term.
Obviously altcoins are never going to be as big as bitcoin. Although you can hold the top ten altcoins of coinmarketcap except bitcoin cash (which is a shitcoin) and then sell them in a year or two when they are affected by bull run. In other words, trading on the altcoins will have more risk but often the reward of that risk is not adequate. Hence you must sell them for bitcoin in the midst of the green market.

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Short term I don't see any reason to trade anything other than bitcoin, especially knowing how little volume some of the other coins have,
I just buy and sell a particular volume of btc - buy at low and sell at high. Simple way to recycle your money to make more money.

About Stellar, I cant give you any expert advice, but the basic altcoin strategy is same.

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It's also much easier to follow bitcoin because, well, the whole market follows bitcoin. Bitcoin dictates where the market goes.
No comments because people have divided opinions on this.
full member
Activity: 437
Merit: 100
When you only buy Bitcoin and keep it in wallet, it's a waste of time and money. When Bitcoin is used to invest in Altcoin, it is reasonable and you will have more money to buy Bitcoin and increase Bitcoin value than original.
member
Activity: 476
Merit: 10
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I was much loss in crypto trading and decide to hold my all coins in 2 or 3 months, and now i want to move to stock trading.  Since crypto market on bearish trend,  its hard for me to make profit.  And i thinking i have to try other asset to trade,  so i will have more experience in different kind of investment.
jr. member
Activity: 182
Merit: 1
Depends on the volume in my opinion. The higher the volume is the more a coin is suitable for day trading. But you are right, only a handful of coins in the top 10 are worth considering. Back in my day trading days I mostly traded BTC and ETH, but to be honest without any success. I simply didnt have enough time to watch the charts 24/7 ;-)

Bitcoin's phenomenal strengthening made many people interested in using Bitcoin some time ago bitcoin reached a fantastic figure, but quickly also slumped down, this also causes some people are still reluctant to collect Bitcoin

jr. member
Activity: 79
Merit: 1
I bought an altcoin with BTC last week at 205 sats.  Sold at 399 yesterday.  Yes, there are good reasons to trade stuff other than BTC.
member
Activity: 345
Merit: 10
Serious discussion please.

Obviously some alts can have significantly bigger gains than bitcoin when it comes to long term and bull runs, the last bull run from 6k to 10k for example, sure bitcoin was strong, almost a 2x but some of the top alt coins did more than a 2x even 3x. However that's only long term.

Short term I don't see any reason to trade anything other than bitcoin, especially knowing how little volume some of the other coins have, even top 10 alt coins, for example stellar only has 33m volume. So my question is, what's the point of trading stellar, for example, instead of bitcoin? You know that even if you are a whale and trade a lot, you wont be moving the market as much, if you have 1m and you trade stellar, that's already huge and we all know the 33m volume is probably not even real, a lot of it from bots trading.

It's also much easier to follow bitcoin because, well, the whole market follows bitcoin. Bitcoin dictates where the market goes.
That's just the rule of the past. Now things have changed. As bitcoin increases, the altcoins are not likely to increase with it. because when the bitcoin is pumped from $ 6k8 to $ 8k3, the altcoins did not rise under it. That was a bad thing, the traders were expecting this but it did not happen. So I think we can now invest in altcoins to make a profit instead of just investing in Bitcoin.
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