Money flowing out of BTC into Altcoins - page 7.

AndySt

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Quote from: Fortify on May 08, 2021, 02:52:53 AM

Quote from: Cointalk83 on May 06, 2021, 03:59:47 PM

I'm just wondering whether BTC has hit it's peak for this cycle. It's been trading sidesways 55k-60k for the last 2 months
while altcoins have rallied. From historical perspective, for those were in it in 2017, did bitcoin ever regain it's dominance after
altcoin season began. I guess what i'm asking is whether I should liquidate my bitcoin position and chase altcoins or whether
there is more room for BTC to go this year.

From the perspective of someone who is new to Bitcoin, it might feel like there is a lot more risk with it and a much lower upside potential (a 10% move from $50k to $55k takes billons, for Dogecoin a move from $0.05 to $0.20 may take the same amount but you'd quadruple your money). This might be a self limiting factor, although every piece of news of a new financial company getting involved will continue to push up prices, there are a lot of rich people out there with nothing better to do than drop money into diversified and rare assets like BTC. However the average low level investor would do much better to hunt out and put money into whatever coin is currently on an upward trend, you really have to be quick in this market - as we've seen with Dogecoin there can be huge upward trends followed by sharp corrections. Get in, take a nice profit and get out - remember to separate out some profits for the next trade though, so you don't lose it all if the market sentiment turns.

Altcoins are a dangerous story that can allow you to earn much more than investing in bitcoin, but also lose much more in the event of a change in the current trend from an increase to a decrease. Due to the current growth of altcoins, you need to look at the market with some caution, because the market is overheated, especially for dogecoins, and any bad news can correct the bitcoin exchange rate and, accordingly, lead to a collapse in the price of altcoins. Traditional investors have more confidence in bitcoin and therefore it is worth keeping some of the investment in bitcoin.

mexite

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Bitcoin is the best crypto to keep for the long term but it's obvious that some altcoins would give better ROI than BTC over the years. So it's advisable that you have some extra cash to invest in good altcoins with long term perspectives.

Pelana vreo

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Quote from: Cointalk83 on May 06, 2021, 03:59:47 PM

-snip-

You have seen how Bitcoin gives you long-term benefits, if I had BTC at the moment, then I would trade and take the profits by buying altcoins and then buying Bitcoin for me to keep.
I still remember when Bitcoin was below $10k in 2018, back then there were many people who sold Bitcoin without thinking they would regret it when the price went up. Altcoins are great for investing, but make sure you choose altcoins that have good fundamentals for the long term.

The Great Kardoko

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There is nothing wrong with selling a bit and moving the funds to another coin. This is what I have done.

judas

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I wouldn't recommend you to sell your Bitcoins and get some altcoins instead. Keeping Bitcoin for a long term is really important and much more profitable. For now, altcoin season is still going on. But I'm sure that you will be in much more profit with Bitcoin compared to altcoins as long as you wait patiently. If I were you, I would keep my BTCs and buy some ETH. Grin

martina14

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Quote from: Cointalk83 on May 06, 2021, 03:59:47 PM

I'm just wondering whether BTC has hit it's peak for this cycle. It's been trading sidesways 55k-60k for the last 2 months
while altcoins have rallied. From historical perspective, for those were in it in 2017, did bitcoin ever regain it's dominance after
altcoin season began. I guess what i'm asking is whether I should liquidate my bitcoin position and chase altcoins or whether
there is more room for BTC to go this year.

A lot of people here in the forum believed that Bitcoin is really good for the long term holdings and this was already proven and tested in my own
opinion, But if you have a doubt now into bitcoin, I think you can chase now into altcoins as long as you will choose among top altcoins that has really a potentials to in the future where you can get a lot of savings of course.

oleg17

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Quote from: Em00n01 on May 08, 2021, 02:54:49 PM

I will suggest you to Do your own research. This is not the end of BTC's pump. Still Many new institutions are entering in BTC. So there is a space for more pump. But alt hasn't pumped like BTC. So my suggestion will be keep 50% of your fund in BTC and buy top Alt with rest 50%. In this way you can catch the pump from both side.

Yes, that's a good strategy at the moment, because considering that the next pump on BTC is still very likely to happen this year, it is clear that it is better to keep half of our funds in the top Altcoins, because the effect will always be there if BTC continues to pump well on the market.

Although the market is already overheated, but it still has the potential for growth. Bitcoin has been accumulating its positions in the region of 50-60k $ lately. I think that soon after there will be a break in this lull. If we reach the level of 65-70k $, we can safely speak about the preservation of the trend and the continuation of the bull run.

Fivestar4everMVP

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If you have already invested in bitcoin, I advice you continue to stay with bitcoin, do not liquidate your bitcoin to invest or chase after altcoin pumps, it's very risky, you might end up regretting your actions, bitcoin has been predicted to reach atleast 100k$ before this year ending so better to held them tight, bitcoin can trade sideways for months but when ever it wakes up, it moves and the moves are highly noticeable and also brings lots of profit, so if I were you, I will remain where I am and don't try to chase after altcoin pumps, you might end up buying a coin at its all time high and loose your money when it comes down or consolidates.

kpierce77

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Bitcoin is like the fundamentals in crypto. although altcoins may be able to generate better profits, you still have to be selective in choosing altcoin investments. maybe you can let your investment in bitcoin, and look for other sources of investment to invest in altcoin, try to do in-depth research so you can avoid losses

Em00n01

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I will suggest you to Do your own research. This is not the end of BTC's pump. Still Many new institutions are entering in BTC. So there is a space for more pump. But alt hasn't pumped like BTC. So my suggestion will be keep 50% of your fund in BTC and buy top Alt with rest 50%. In this way you can catch the pump from both side.

Lordhermes

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Quote from: Cointalk83 on May 06, 2021, 03:59:47 PM

I'm just wondering whether BTC has hit it's peak for this cycle. It's been trading sidesways 55k-60k for the last 2 months
while altcoins have rallied. From historical perspective, for those were in it in 2017, did bitcoin ever regain it's dominance after
altcoin season began. I guess what i'm asking is whether I should liquidate my bitcoin position and chase altcoins or whether
there is more room for BTC to go this year.

Bitcoin transaction is becoming too expensive to the extent that investors are leaving the Bitcoin blockchain network, altcoin fees are low and as such, theborice of all of them are low and so investors can acquire large quantity of coin, recently, the old altcoin like eos, storg, verasity, and so many altcoin gets to their new ATH this nee week.

Similificator

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I wouldn't say that the idea is bad op, but just remember to leave some after you take profits and invest into altcoins. Then, if ever you get to have profits also from these altcoins that you wanna invest into, try to get a fraction of it also to buy back bitcoin and other reputable coins like ethereum and so on. At least that's what I do. Still, it's your choice. If you get lucky and gain profits, then good. If not, then at keast you learned something from that experience. Just make sure to never forget having allocation for emergency funds for unprecedented scenarios that may happen. Good luck op.

GrosWesh

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@Op: I think it is dangerous to switch entirely to altcoins.

It is better to diversify and keep some of your funds in btc, imo.
Many (too many?) People expect a crazy boom in alts, but ... we know that the market likes to surprise us. Hence the interest of never being 'allin' ... Wink

acener

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Quote from: Cointalk83 on May 06, 2021, 03:59:47 PM

I'm just wondering whether BTC has hit it's peak for this cycle. It's been trading sidesways 55k-60k for the last 2 months
while altcoins have rallied. From historical perspective, for those were in it in 2017, did bitcoin ever regain it's dominance after
altcoin season began. I guess what i'm asking is whether I should liquidate my bitcoin position and chase altcoins or whether
there is more room for BTC to go this year.

I don't think that it is a good idea don't liquidate your Bitcoin for alt-coin,
It is better to have another investment for it or manage your folio properly pick up the alts that you want while having BTC on it.
Remember don't put all your eggs in one basket.
I always keep my folio with 3-5 alt-coin but I think others have more crypto on their folio the more the better I guess but for me I only pick what I think would be great in the long run.

jostorres

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Quote from: Cointalk83 on May 06, 2021, 03:59:47 PM

I'm just wondering whether BTC has hit it's peak for this cycle. It's been trading sidesways 55k-60k for the last 2 months while altcoins have rallied. From historical perspective, for those were in it in 2017, did bitcoin ever regain it's dominance after altcoin season began. I guess what i'm asking is whether I should liquidate my bitcoin position and chase altcoins or whether there is more room for BTC to go this year.

If I remember exactly, bitcoin markets are not into sideways movement for last two months but probably more than three weeks. It is just part of bitcoin markets, because we have seen similar kind of market situations along with past bitcoin's bull rally as well hence nothing to worry about.

At the same time when bitcoin market is trading stagnant, it is highly expected for altcoins markets to start their bull run; exactly same thing happened on this year as well. So, I'm not seeing like bitcoin has reached its peak levels already; there are a lot of chances for new ATH happens at any time soon. They money which had gone out of bitcoin markets, will definitely come back when bitcoin markets enter again into bullish mode.

nicecrypto

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Quote from: Cointalk83 on May 06, 2021, 03:59:47 PM

I'm just wondering whether BTC has hit it's peak for this cycle. It's been trading sidesways 55k-60k for the last 2 months
while altcoins have rallied. From historical perspective, for those were in it in 2017, did bitcoin ever regain it's dominance after
altcoin season began. I guess what i'm asking is whether I should liquidate my bitcoin position and chase altcoins or whether
there is more room for BTC to go this year.

]When it comes to Bitcoin investment, I would not advise liquidating your Bitcoin assets but rather invest different funds in Alts if you do have the means even though some will argue that you should be able to take advantage of the one that is pumping at a moment. Selling Bitcoin for Alts when Alts starts to really pump and selling Alts for stable-coins and buy Bitcoin again when it has dipped.

totaleclipseofthebank

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Quote from: Cointalk83 on May 06, 2021, 03:59:47 PM

I'm just wondering whether BTC has hit it's peak for this cycle. It's been trading sidesways 55k-60k for the last 2 months
while altcoins have rallied. From historical perspective, for those were in it in 2017, did bitcoin ever regain it's dominance after
altcoin season began. I guess what i'm asking is whether I should liquidate my bitcoin position and chase altcoins or whether
there is more room for BTC to go this year.

If bitcoin hit its peak, altcoins would be dumped by now. Fortunately, money just simply move out from bitcoin to altcoins. Moreover, the total marketcap of cryptocurrency has reached a new record so it means people are investing in altcoins a lot

Bitcoin has chances to increase more. However, focusing all of your portfolio in bitcoin is not a good idea cause it has increased more than 14 times since 2020. Investing in altcoins are proven to give you more profit in a short time. Therefore, why dont you split your current funds into half and invest the first half for altcoins? You will not regret this decision

Fortify

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Quote from: Cointalk83 on May 06, 2021, 03:59:47 PM

I'm just wondering whether BTC has hit it's peak for this cycle. It's been trading sidesways 55k-60k for the last 2 months
while altcoins have rallied. From historical perspective, for those were in it in 2017, did bitcoin ever regain it's dominance after
altcoin season began. I guess what i'm asking is whether I should liquidate my bitcoin position and chase altcoins or whether
there is more room for BTC to go this year.

From the perspective of someone who is new to Bitcoin, it might feel like there is a lot more risk with it and a much lower upside potential (a 10% move from $50k to $55k takes billons, for Dogecoin a move from $0.05 to $0.20 may take the same amount but you'd quadruple your money). This might be a self limiting factor, although every piece of news of a new financial company getting involved will continue to push up prices, there are a lot of rich people out there with nothing better to do than drop money into diversified and rare assets like BTC. However the average low level investor would do much better to hunt out and put money into whatever coin is currently on an upward trend, you really have to be quick in this market - as we've seen with Dogecoin there can be huge upward trends followed by sharp corrections. Get in, take a nice profit and get out - remember to separate out some profits for the next trade though, so you don't lose it all if the market sentiment turns.

eXtremal

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Quote from: newwest on May 07, 2021, 02:28:46 PM

Quote from: go4crypto on May 07, 2021, 02:02:22 PM

BTC has not peaked by any means. Its rise has been mild so far and it should go near $100K at least. Alts outperforming BTC is a great sign for the best phase of the crypto bull market.

At present many of them I know are more interested in altcoins and looking to accumulate as much a possible. Some getting converted their btc to altcoins, might be just want to catch the trained as seems to be season and altcoins rising very quickly so making some quick profits and may convert back again to btc later on.

I'm sure they feel that bitcoin is already very expensive nowadays, the right choice to look for profit in altcoins. Because the altseason is about to begin. I don't know when, some predictions still don't have an accurate way to go about the alt season. But I'm sure it will definitely happen. It's a good time when bitcoin is high and coins are down to become a collection of coins.

bitcoinsc

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it is true that this is happening. but you will miss out when bitcoin grows. its just nature. theres always coming back to bitcoin.. if a bear market comes just hold bitcoin. and trade it a few times . alt coins will be harder to hold during bear markets. bitcoin is the standard if your not comfortable trading alt coins during bear markets..

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