Topic: It’s taking a lot of discipline not to sell my alts for Bitcoin. (Read 917 times)
So you're all in on btc? Never smart to be all in mate
August 05, 2019, 12:30:17 PM
I am among those who do not have high discipline at this time. seeing the decline in bitcoin that happened yesterday, I sold some of the altcoins that I had for bitcoin. and now I have benefited. now i want to buy altcoin again, but i am waiting for the altcoin pump not going well. only a few small movements.
August 06, 2019, 03:56:41 PM
This is a very big temptation for traders, but I prefer altcoin over bitcoin because it's better to take very small coins to invest and avoid big losses, this year altcoin is very cheap and bitcoin is very good at very high price values but I am I a beginner trader and I avoid selling my alt for btc, I'm sure altcoin will get a good price for the future
It sounds quite negative to me that you would choose altcoins over bitcoin, what do you need in bitcoin that has not been proven to you already, if you talk about reliability, bitcoin still remains the most reliable coins in the market, if the government were to shake the cryptocurrency market today, virtually all the altcoins in the market will face off the face of the earth while only bitcoin would still remain intact because it is not being controlled and already as recognition worldwide. Altcoins might be cheaper than bitcoin, but I would rather invest in a coin that I can assure myself that it would continue to exist and an investment for which I can make and still leave for my children. When you consider investment, you have to look at the future benefit of it and not short term benefits, most altcoins you see are just for short term benefits.
August 06, 2019, 01:46:32 PM
I’m now 92% BTC, 8% eth.
I sold 20,000 ADA and all my xrp for BTC.
I don’t regret it. Chasing altcoins is a losing proposition. Just when you think you have a good one, a newer shinier object comes along. I’ll hold onto Eth. Because like BTC it has a first mover advantage. But it feels good to look at my portfolio and know I can’t lose more BTC than I have. I’m I’m quite happy with my current stash of BTC.
I sold 20,000 ADA and all my xrp for BTC.
I don’t regret it. Chasing altcoins is a losing proposition. Just when you think you have a good one, a newer shinier object comes along. I’ll hold onto Eth. Because like BTC it has a first mover advantage. But it feels good to look at my portfolio and know I can’t lose more BTC than I have. I’m I’m quite happy with my current stash of BTC.
August 05, 2019, 06:02:49 PM
The altcoins that you bought are among the top 10 cryptocurrencies in the world and they have a chance to grow and bring you profit. You just have to be patient and wait. There are people who bought altcoins that are not in the top 100 - here they have real problems.
Holding good coins will bring you confidence even though price is down it will pump again. Yes need to be patience and really discipline not to sell alts for bitcoin. Looking everyday in the market sometimes be attempting because of the price but since it is good coin patient is needed. It's hard to choose the good coins to invest, so if you're holding a profitable one right now don't rush out to sell while the price isn't gaining a good value. Patience wasn't easy to develop within ourselves. That's why in order to have discipline, we must take full responsibility by controlling our emotions until value of your asset fully matures.
August 05, 2019, 12:22:26 PM
Its good to diversify your investment, alt coins also got a hood potential to make profit, so just do your research and try to follow the market movement, dont sell all your coin into btc try to do research and try to invest in alt, you will see better profit when you choose the right coin
August 05, 2019, 11:38:19 AM
This is a very big temptation for traders, but I prefer altcoin over bitcoin because it's better to take very small coins to invest and avoid big losses, this year altcoin is very cheap and bitcoin is very good at very high price values but I am I a beginner trader and I avoid selling my alt for btc, I'm sure altcoin will get a good price for the future
August 05, 2019, 08:24:50 AM
The altcoins that you bought are among the top 10 cryptocurrencies in the world and they have a chance to grow and bring you profit. You just have to be patient and wait. There are people who bought altcoins that are not in the top 100 - here they have real problems.
Holding good coins will bring you confidence even though price is down it will pump again. Yes need to be patience and really discipline not to sell alts for bitcoin. Looking everyday in the market sometimes be attempting because of the price but since it is good coin patient is needed. August 05, 2019, 01:31:06 AM
I think so.However, my portfolio consists of 50% bitcoin and 50% altcoins.Based on the fact that the bitcoin dominance index is almost 66%, there is no doubt that 80% of the assets must really be kept in bitcoin.
even now I reduce my altcoin to more bitcoin in my portfolio. I have tried to be patient and wait for altcoin to pump, and until now what is happening is the property of bitcoin. we can have more bitcoin because dominance is still very high.Count me in as another Bitcoin bullish. Bitcoin is seen to be very bullish within the year, even some predicting that the All Time High (ATH) will finally be achieved once more. I am hoping for this. It is almost a couple of years already since the ATH was hit. And so my portfolio's value is also dominated by Bitcoin. Around 80% is with BTC and the rest are divided mainly by top altcoins. I have several low-volume coins that are valued a few tens of USD as well.
August 04, 2019, 12:16:26 PM
I think so.However, my portfolio consists of 50% bitcoin and 50% altcoins.Based on the fact that the bitcoin dominance index is almost 66%, there is no doubt that 80% of the assets must really be kept in bitcoin.
even now I reduce my altcoin to more bitcoin in my portfolio. I have tried to be patient and wait for altcoin to pump, and until now what is happening is the property of bitcoin. we can have more bitcoin because dominance is still very high. August 04, 2019, 09:56:53 AM
Who know too. It may go being pumped.
The thing for now is that a lot of altcoin holders have been FOMO'ed.
They sell their altcoins in exchange for bitcoin in a risk. I dont think most of them have made profit from that.
Patience fight for now.
If bitcoin goes downward you will see them coming back. I am pro bitcoin but there are altcoins that I want to have success too. Somehow they will help bitcoin to grow even more in the future. Something like a sidekick.
The thing for now is that a lot of altcoin holders have been FOMO'ed.
They sell their altcoins in exchange for bitcoin in a risk. I dont think most of them have made profit from that.
Patience fight for now.
If bitcoin goes downward you will see them coming back. I am pro bitcoin but there are altcoins that I want to have success too. Somehow they will help bitcoin to grow even more in the future. Something like a sidekick.
August 03, 2019, 07:59:31 PM
We should learn how to control our emotions despite of the hardships we had. Patience should be observed once you're facing challenges in growing you asset and don't just sell without purpose. Having discipline is really hard to do but with serious dedication.
August 03, 2019, 07:54:06 PM
Just ignore the market and hold tight your coins. Sometimes it's much better than seeing the price everyday, especially now which will make you think you should cut loss
Well is that true checking and monitoring the price everyday is very important for the holders to avoid a lot of loses. Cut lose is part of the traders they can't avoid the risk because of volatility.
August 03, 2019, 06:46:25 PM
I stopped investing in Cardano and Litecoin. Cardano is not a profitable coin at all, though Litecoin is good but I don't like it personally. I think there is still time to sell your alts for Bitcoin. Because Altcoins growth is very slower than Bitcoin! I bought some altcoins but it's satoshi price kept decreasing, that's why Today I sold my altcoins.
Traders trade the altcoin for increasing their BTC holdings. If you get the same dollar average profit at the end, it is a waste of time to continuing investing in the altcoins. Litecoin halving can be an exception due to the expectations by the market participants but it will go back to the same flat price range after August. The slow market shift is healthier compared to the sudden price spikes. 
August 03, 2019, 06:20:45 PM
I stopped investing in Cardano and Litecoin. Cardano is not a profitable coin at all, though Litecoin is good but I don't like it personally. I think there is still time to sell your alts for Bitcoin. Because Altcoins growth is very slower than Bitcoin! I bought some altcoins but it's satoshi price kept decreasing, that's why Today I sold my altcoins.
of course we need strong discipline not to switch to bitcoin. By fine-tuning the previous pumps, I have lost to my stand and sold my altcoin to take part in the bitcoin pump.
I dint think that switching from altcoins to Bitcoin for the main time will be a bad choice because right now, I think bitcoin dominance will continue till the end of the year, which means bitcoin will still have more increase in value before the altcoins can start increasing, and now that bitcoin value has dropped very low again, this may be the time that is right for people who wishes to sell their altcoins for BTC to do so before the next increase and correction again. We know that has bitcoin increases and decreases, most altcoins decrease in value, so if we sell to btc now, and then bitcoin increases, we can then remove it and use the profit or the capital to buy the altcoins back. Most altcoins will still remain at this their current value till maybe next year because I don’t see them going on bull run again this year.
I don't think you have done wrong and you just need to be wise and buy back with the gains you have made instead of converting to fiat. Bitcoin got many funds inflow into it from altcoins and those funds also were converted to fiat instead of buying the altcoins back with the capital and gained.
in trade, of course altcoin - bitcoin - fiat turnaround is very common. I also do it to get more profits. where the market moves that is more profitable then selling altcoins for bitcoin or vice versa is a fairness. 
of course we need strong discipline not to switch to bitcoin. By fine-tuning the previous pumps, I have lost to my stand and sold my altcoin to take part in the bitcoin pump.
I don't think you have done wrong and you just need to be wise and buy back with the gains you have made instead of converting to fiat. Bitcoin got many funds inflow into it from altcoins and those funds also were converted to fiat instead of buying the altcoins back with the capital and gained. 
of course we need strong discipline not to switch to bitcoin. By fine-tuning the previous pumps, I have lost to my stand and sold my altcoin to take part in the bitcoin pump.
But there's no more bitcoin pump right now, the price is way below $10k as everyone is expecting that by this time the price should be around $13k. Anyways, you have made the decision and I do hope that you need more discipline to hold your bitcoin for the long haul to at least maximise your profits.
I think we should have our investment in diversified manner to just be safe in worst conditions. And it is very important for ourselves to stick to some rules for the market, to get most out of it.
If you want you can accumulate more Bitcoin on declines keeping altcoins as is.
It is a very good strategy to diversify in our cryptocurrency investment, you don’t have to rely on one coin that may fail, but at the same time, we still don’t have to because of diversification start packing lots of coin that will end up not adding any financial assistance to us. The reason why we make investment is to have gain, and what is the point in having 200 coins wen none of the can even give proper profit except one. If you want you can accumulate more Bitcoin on declines keeping altcoins as is.
I think when diversifying, we just have to consider investing in just few coins, but when we invest in such coin, we have to make sure that those few coins are really worth it, they must have very solid background, a remarkable product that will have a use case, and a working team too that is well known and trust worthy, but if we take a look at op portfolio, I think it is still one of the best for now.
Jump to: