Topic: It’s taking a lot of discipline not to sell my alts for Bitcoin. (Read 944 times)

So you're all in on btc? Never smart to be all in mate

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.

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.

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.

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.

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

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

bitcoin is definitely growing again. indeed requires a strong discipline to keep our assets and not sell losses. the chance for bitcoin to grow back and do a pump is still there. just need to be patient.

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.

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.

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.

While that is true all of those factors should be known before you even invest in a coin, whenever I invest money in a coin I know how much I can let the market move against me before I decide to sell, it is painful to sell and to get less bitcoin in return but by adhering strictly to my strategy has saved me from losing so much money that it does not matter how unhappy I could be about losing money I always know that it could be way worse.

It is obvious that the growth wasn't high after the days of 2017. The market of bitcoin kept falling which recently showed a rise and further has fallen low again. Every altcoin listed on the top seems to grow high, but this can't be achieved with deadlines.

Small volume holders were the one suffer big, because when we sell the price might increase.
No decision can't be made like the large volume hodlers who are the success people of bitcoin.

There is always a good choice of investing, from my experience small volume holders just panic while large volume holders use it an opportunity to invest. Cardano and all other altcoins mentioned were highly potential altcoins for investing.

As of now, Bitcoin has more earning potential than those altcoins because of its continuing price rally so I recommend not to sell it for altcoins. The altcoins that mentioned by the OP are considered strong coins, they had their own time for uptrend. If you are an experienced daytrader, you can always use your altcoins to earn more profits instead of holding them in your exchange or wallet.

Well you're right about " I’m not sure how much lower it can go " and yeah who knows about the price fluctuation.
But the thing is, when did you buy the coins? If you cut your loss how much will you lose? What's your profit limit?
You should be calculate this things, especially the loss and profit. If you want to get profit from these coins, you should calculate the limit
and estimate whenever the limit is reached. Hope you find profit on those coin and good luck bro

I think that you should not get so excited and sell altcoins for Bitcoin.  First of all, you should make an analysis of each coin and study the issue of its future prospects.  You may even need to look at reviews from other users, if you have some doubts about personal conclusions.  But you can’t leave only Bitcoin in your portfolio, because the quality of the result depends on the diversity of your portfolio.

Lol. You are selling all of your altcoins for bitcoin? That will be a disastrous for you when alts become the 2019 bull run. If ever all of alts will increase by hundred times, you will regret that you sell them. That is not discipline for me, that is a excitement to buy bitcoin. I have my own set-up in buying cryptocurrencies, yes I also prioritize bitcoin. But I only reserve 50% of my portfolio to it. I better to look upon other cryptocurrencies which I suspect that will move up simultaneously as bitcoin

The order will set aside more effort to be analyzed in the case of giving up our alts for bitcoin. In that case you think that its troublesome holding so long on your advantages, don't push it yet rather redirect to another plans of dumping those which you think not worth to reach up a decent increase in future.

Compare the growth of Bitcoin with the growth of altcoins. If you take the data for 3 last months, you will see approximately the same graphs. Nevertheless, BTC domination has boomed, which says about 1 thing: people started thinking seriously that 2017 bull run can come very soon. Thus, they rushed to invest in Bitcoin and exchange alts for the main crypto.

Sometimes we need to consider right opportunity instead of choosing what desires came in to our mind. Having that mindsets over us, cannot be denied but if it's not worth it to wait you should give up and choose to sell. Discipline is somehow difficult, so if you're holding bitcoin despite of having alts, the potential profit will be certain.

I would stick with it and just hold. If you have 20% in alts, and they have dropped by 50% vs BTC, then that's only 20% x 50% = 10% altogether, which is fine I think. Certainly small compared to the dollar price rollercoaster we're all on. Don't panic, just hold it. I have more in alts than that, but I am still holding mine despite the tempation to switch everything to BTC. Good alts look very low vs BTC right now. They will surely recover.

Isn't Bitcoin and altcoins are almost the same in terms of risk and getting profit? Since most of these new altcoins aren't worth it to invest even if you say they have a higher profit in the future yet it will depend if the project would succeed but most of the time it won't. I think i should stick to Bitcoin if i were you since it is proven and tested that it will give you a profit if you really want it.

I think the question you need to ask yourself is:

"Are there any altcoins out there that are fulfilling a function, use case or niche that Bitcoin currently cannot" ? Since the answer is a resounding yes,

it would make sense to allocate part of your portfolio to altcoins that are the best in what they are doing.

It is certainly one of the most common mistakes to date. There were a lot of people wrong when investing in the wrong way. You have never used stoploss because you think the halving event will go well.
never subjective anything. always put a stoploss because the prediction is never correct, it can go in the opposite direction.

But when the dominance of bitcoin keep increase and that will be a very bad thing for us. For me try to sell some amount to and then convert it to the bitcoin is not a bad choice too as long as we are still keeping the rest in the altcoin form.

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.

I think you invest very much. For me it's very good at taking big profits, but you have to be smart to hold your investment and be patient, and sell it higher when you are buy there and you get a big prize..

because the bitcoin season won't always go on so that to break your money in both digital currencies such as bitcoin and altcoin it is better because after the bitcoin altcoin season it will also be the main way to get results when bitcoin is difficult to get profits

With your investments, I don't think there is any reason for you to come down and panic sell. It's just altcoins are not yet pushing further like bitcoin. And take note that you haven't taken the lost unless you already sold your coins.

yes going with the same decision for long time will be the perfect idea but sweet people will suggesting not to sell your right now investment for any other currency to invest this will be a very bad habit for everyone and it will not been useful also.

Your choice! but since its only 20% of your entire portfolio belong to alts then it doesnt matter if those would dump down.It wont give out big effect into your

entire investment funds.It might lose all the way but thats only 20% you do still have 80% left.Its up to you though yet its your money after all.

That is super tempting to sell them for BTC. I've actually had that thought too. I go back and forth on which alts are going to be useful and succeed once some of the enterprise level coins start to roll out.

If you believe in the project for the aspects of it the drops in price are like discounts where you will buy more to grow your stack. If you are only in for the btc/fiat profits you need to cut loses somewhere and to avoid situations like the op has put them inn on the moment of buying.

I can see nothing wrong with the composition of your portfolio. That is even much better than mine. I have almost a 50:50 Bitcoin and altcoins ratio. Moreover, your altcoins portfolio is comprised of a few of the best altcoins. That is definitely a lot better than mine, which includes a few more shitcoins. If you just hold on to it and keep your patience, that portfolio is gonna make you a bigger wealth.

You were having only 20% from your total investment value and if someday you lost i think 80% bitcoin can replace it and most of your altcoins portfolio were popular altcoins especially Eth that saving this altcoins is good for your crypto asset and regarding the price it will always be fluctuating following the market movement but as long as you don't panic when downtrend happened i think it will avoid you to loss

Of the 20 coins, three (LTC, BTC, BSV) are above market average and four (XRP, NXT, XLM, PPC) are in bear market in 2019.
https://imgur.com/WdElT9F

I don't believe that it is the discipline you are applying but it is the fact that you are now  very emotional attached with those coins beacuse you have so much faith in it and you have held for a very long time. I have had the same experience but I finally sold it and let it go. But it's just 20% of your port which is a good news because it is the perfect balance.

Some people can't wait because of due to panic when the altcoin prices are going down, if you convert them to Bitcoin you will get very less amount. So every time it is impossible for altcoins to increase their prices, so we need to wait until the altcoin prices start increasing. In this way, you will make more BTC.

I don’t think it is only you that is having that impulse not to sell your altcoins for bitcoin because some of the Altoonas are not doing well now. However, some bitcoin holders are also under extremely pressure to sell for usd or fiat as the market go below $10,000. One of the greatest tools I have see in this market is patience and be disciplined enough not to sell at loses. I have made up my mind to sell whenever my holding are in profits and never to sell when there are in loses.

The number 1 rule is holding as much as Bitcoin and that's why I trade my altcoins for Bitcoin. Altcoins will not let the Bitcoin to leave the $10000 without the big whipsaw on the charts and it is impossible to see a Bitcoin dominance level over 90% in my opinion. Keep that in mind: Stacking BTC is the first intention in this market.

Large volume of funds have got moved from altcoins towards bitcoin. This is the reason for the recent large scale price pumping of bitcoin leaving the altcoins down. The same made the market dominance grow beyond 66% which too is a strong point for growth. Op has maintained a good portfolio with majority holdings of bitcoin and small percentage on altcoins. This could have never affected his portfolio value, the blow is to the people who hold altcoins in large volume than bitcoin. Hope there'll be recovery at the shortest.

That is solid altcoins you got their dude, Although they are like 60%-80% from their previous highs, it is still good to just hold on them long term and just wait for another bull run 2020-2021.


ETH lost almost 90%, then expect Cardano to even go lower than that. The thing is, ETH has regained after it went as low as $80, so a imminent bounce will happen, just stay cool and relax.

In 2018 I held Bitcoin and some altcoins including Ethereum and Litecoin. Many of the coins that I sell for cutting losses and too long hold the coins very risky. But if you know that now the price of Bitcoin and Altcoin has climbed. Of course, I regretted selling too fast.

Fortunately for you most of your investment is in bitcoin so your losses cannot be all that big, however the moment to cut your losses was weeks or even months ago, right now it will be a mistake to sell when the price of altcoins is close to the bottom, if you can it could be a good idea to average your losses, this strategy can be effective for you because you invested in good coins that will recover if you give them enough time, so keep holding your coins and wait until their prices get better since that is the only thing you can do at the moment.

but that is natural, even I often experience it. the most important thing is the advantage that was clear to me. expecting more sometimes makes us lose because the market does not reach our expectations.

There is absolutely no point selling at this point again, you already said it that most of them has gone lower than you think and I think that is the lowest they can go for now, I am also in the same shoe as yourself, you have been patient all along, just don’t make any drastic decision that will make you regret again, one thing I have realized about cryptocurrency is this, at the point you make that decision is when you see that the things change and goes against your way.

Altcoins moment will soon be here, and if you change to bitcoin now and bitcoin remains stable, by time altcoins suddenly start to increase, before you get the chance to change back to altcoins, the prices would have already gone high, which means that you will be buying at an expensive rate again, so better you just leave them as they are, except you are doubting their existence again.

we must prevent this emotion because sometimes a person's condition can change due to their inability to control when there is a rapid decline or increase. we are in a hurry to sell it

I will advice you to hodl. Your portfolio has etherum,  litecoin,  cardano, ripple. These are not any low project coin. They have real usecase and so they will surely rise again

when you want to sell the altcoins that you have for bitcoin I suggest you to continue to wait until you can get very much profit from altcoin because from altcoin you can double as many bitcoin assets as you want. do not let you be influenced to sell at cheap prices.

   Only thing that holds me from selling my alts is thinking about long-term. I believe that some alt-coins will have a great future, that`s why I hold them in this hard times.
It`s all it counts I think, who will survive hard times and how you are handling with that pressure.
    Trading is so different from investing and holding. Holders are playing on long-term benefits, with small risks, you can sell in some moment and cut your loses. Traders are
short-term gainers, it can be very profitable I know, but in the same time it`s very risky.

all depends on our trust in the assets we have. if you are an investor, you will certainly think for the long term. but if you are a trader, maybe you have to choose which assets will benefit you faster. I think the principle is like that.

We never know which cryptocurrencies who will meet an increase price even the increasing price is drastically, because if we know that I believe we will be an investor who have a lot of wealth. We only know from the developer who make an update to the coin/token but it is not a certainty that the coin / token will experience a price increase.

However, I agree with someone above me who say at least you didn't choose shitcoin for your investment. You will always have a hope that your money will be add in the future if you choose ETH for an instance. But I won't feel regret when I sold my altcoin and move to bitcoin because I have a high confident that bitcoin will have a high price in the future, because I see some reason who will make bitcoin have a high price with one note I must have a high patience.

Well, you had it good in this case. Having 80% in BTC turned out to be an excellent scenario.
You will never have it 100% so instead of thinking at thos 20% losses you should focus that you protected your portfolio very good giving the conditions of the market.

of course because now is the time we hold our coins tightly like altcoin or bitcoin if we want to get a big profit. because in the coming year all coins will surely experience high price increases and the price of coins will also be expensive

It is better to hold your altcoins than selling it at loss i think. As their time might come one day. If you sell, the altcoins can only go lower each time you do it as bots and people want you to sell at the lowest price.

indeed the value of your portfolio continues to decrease, but your assets will never be lost, so don't do cut loss. be patient, because not as long as the market goes down, when the market is bullish later your portfolio will be green and you will profit from the alts you hold.

remember, there are many people who hold alts like you, so don't hesitate with old alts 

Alt FOMO has been really subdue, i am not sure how many how of us are still holding the hope. HODL strategy seem outdated now. But i felt some are still working hard, but 99% of altcoin will fade away.

For you to get a positive result you need to diversify your cash,own bitcoin and good altcoins so you won't misses out if any did better than the rest

Same thing happened to me but in 2017 and a little bit last year. I bought a few POS alts back in 2017 thinking wow new lows for satoshi. Even did worse than LTC and ETH!

And then in 2018 I bought ETH at around $400, with BTC.

Sad stories about selling btc for alts;)

"Don't put all your eggs in one basket" as many people says and I guess you have done with it. I agree bitcoin is the one of promising place in cryptocurrency for our investment but you don't have any mistake to leaving a little amount of your capital to invested on altcoins who have a potential. I'll agree if ETH, Litecoin and ADA are the right place when we choose an investment in altcoin.

However, in all investment place not only a portfolio that will give you a profit from the money that you spend but you have to aware of your foresight when you read the situation, a patience and also your emotional when seeing the market. You have to know when you make a decision to sell or make a decision to buy or even the strategy such as long term investment and short term investment you must obey before deciding to make a purchase.

That’s a good coin to hold for long term and no need to panic because the price can go high as much again, I’m a little doubt with Ripple but of course its your coin and its your decision. Good also that you hold more bitcoin that altcoins, it can cover all your losses with your altcoins especially when bitcoin goes high. No one knows mate, just keep holding and wait for the right time.

You are not alone, many of us bought alts knowing that they have been at the bottom. But I choose not to cut losses, since it has been that much I'm just accepting the fact at the moment that I don't want to lose that much and keeps on believing that these coins that I bought shall recover soon. It's okay on your part because it's just 20% altcoins and you still have a bunch of portion for bitcoin.

You already on the right descisioun, you should not cut your lose on your Altcoin.

Why? because you already holdling bitcoin with more than 50%, the rules of management crypto always have bitcoin atleast 50%. Just for in case went the market on bullish you can get the profit first at bitcoin movement after that the altcoin will follow.

The market moves in cycles. It's funny to see how everyone here is so freaking scared, when in fact the altcoin season is right around the corner.

It's simple:
HIGH BTC dominance = Diverify into ALTS
LOW BTC dominance = Move your shit to BTC for the correction.

It happens every single time, and right now, most alts are oversold. Catching the bottom of the alt market is close to impossible, but there is no doubt that we are getting close.

What happens now, is that only the STRONGEST alts survives. Which means, coins wont pump on speculation that we saw in 2017, but rather on what is delivered.
Personally keeping my eyes on Stakenet (XSN) who have delivered tons of stuff already, but yet never really saw any pumps (That's a good sign, since they launched in the middle of the bear market).

Quick rundown:

3rd project to implement lightning transactions on mainnet right after BTC/LTC
First POS/MN project to integrate Segwit, atomic swaps, and lightning on mainnet.
Invented Cold Staking (Trustless Proof Of Stake)
They made a pool staking service for people with small holdings of XSN, PIVX, and Stratis
Masternode As A Service - quick trustless masternode setup for newbies.
Masternode Monitoring service - Emails you if one of your nodes goes down, love it

Multi Currency Lightning Wallet with 1 click lightning swaps, and TOR integration for privacy is in public beta testing
Lightning DEX coming later this year.

And much much more. Check their roadmap.

---

What I'm trying to say... Don't invest in useless junk coins who promise the world everything, yet fails to deliver over and over. Tons of projects was launched with an ICO, and reckless spending of that money have turned a lot of these projects bankrupt with the recent bear market.
Be careful, and don't go all in on any project out there.

Altcoins you were mentioned that it is not useless are shit coins so you don't have to worry about the price trap from now in the future you will be having profit it is the adoption of cryptocurrencies increases so just keep on holding and the 80 percentage of Bitcoin holding in your portfolio will help to recover your loss if few altcoins failed to to recover.

What you do is right and holding Bitcoin and Altcoin is actually a good strategy. It's just that you need time to make a profit. But if you feel that every day you experience a disadvantage, a good step is to sell it. But you have to remember, the altcoin that you have is an altcoin that has potential.

Determine the choice, which coin you need to sell and keep. seeing market developments is very important to know where we will decide to buy, which aims to avoid losses.and know a coins that have good prospects.

Ha, I have been holding some assets since 2017. Many of them are almost trash. And there were big pumps when there was a listing on a large exchange, such as Binans. At that time it was possible to sell with a very good profit.
Now I know what to hold pending the development of the project is wrong. For investment, as well as for trading, you need a trading system. Otherwise discipline to hold will cause loss .

I rather hold my bitcoin compared to altcoins, no matter what happens in the market you can ignore it and keep on holding. If you are holding that both altcoins and bitcoin I am sure, it will surpass soon its previous highs by a large margin because only enthusiasts use bitcoin today. Nevertheless, I usually sell my altcoins into bitcoin but in the right timing when bitcoin down there's instances altcoin will pump and that's the time I divert into bitcoin.

At least you're not holding shitcoins and worthless tokens, instead, you have solid altcoin portfolio with cryptos that will definitely go up in value once the market recovers + altcoin season begins. Don't be a panic seller, last thing you want to do is dump your coins only to see them skyrocket within a month.

This is simply a cycle, it'll be over sooner or later, then the next one (hopefully, with green numbers in the charts) will arrive and you'll be able to increase your btc stash  

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

that's happened with me in the past and i lost 2 BTC caused by that and im cutting loss all of my altcoin and i try to go even further by joining in the binance IEO and i can return it back again.
Cut loss is much better when you are thinking if you are still high.

I’m 80% bitcoin, 20% alts. Most of those 20% alts were bought with bitcoin when I “thought” the Satoshi level was low. Little did I know it would go A LOT lower. That 20% is Litecoin, Ethereum, Cardano and Ripple.

Since I’ve seen their Satoshi prices cut in half...every day I think I should cut my losses.

But then I look at the charts and, especially Cardano, I’m not sure how much lower it can go. Then again...who knows. It could go much further down from here.