Sell a little bitcoin now to get into alts when it all drops soon? - page 3.

Mauser

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Quote from: dAppsSolutely on January 07, 2022, 05:09:01 AM

wouldn't it be a good idea to sell some bitcoin to be able to do that?

It seems like the logical thing to do. But, I'm new to trading and wow it's more complicated than coding. What do you guys think?

Hard to give a general advice without knowing a little bit more about your current situation. If you already made 4x profit on your initial investment it's a nice payout for you, but BTC dropped a bit right now. If you had more funds available I would recommend to keep your BTC for now and rather use fiat money for your alt coin trading endeavors. Like if you got some Christmas money from your family or your employer I would rather use that. Trading might seem difficult at first but if you are already into coding than it will come much easier to you to build your own trading strategy. I would recommend to start our with a fairly easy technical analysis strategy, only using a few trend signals and see how it goes for you. By starting to trade actively you will learn a lot by actually doing it rather than only a technical approach by only reading.

cheezcarls

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Quote from: dAppsSolutely on January 07, 2022, 05:09:01 AM

I'm new at all this but I've been filling my head with bitcoin news lately and things sound a bit dire... uh, bearish? Still learning the lingo.

If I have a little bitcoin, small time stuff here for you high rollers, but it's 4x my initial investment now, and I'd like to get into other cryptos and learn trading and coding dApps with them...
wouldn't it be a good idea to sell some bitcoin to be able to do that?

It seems like the logical thing to do. But, I'm new to trading and wow it's more complicated than coding. What do you guys think?

Thanks

It really depends on your instincts whether to do it or not. No one knows if it’s the right time or not. There is no perfect timing for us to either buy or sell BTC in favor of altcoins. We cannot predict the cryptocurrency market accurately. No matter what helpful advice did you get from the experienced ones like here on Bitcointalk, the final decision will always be yours and you can’t blame others for the decisions you’ve made. Just saying.

suzanne5223

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Learning trading is a good idea but crypto trading is not for everybody and the last time I checked cryptocurrency trading is not applicable for newbies now due to the momentum of the market because huge market correction can happen anytime soon.
Having said that, portfolio diversification is also a good idea but do you have the knowledge to manage the portfolio well, if not. I will advise you to invest mostly in BTC and some 3 major altcoins.

Ararbermas

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Quote from: dAppsSolutely on January 07, 2022, 05:09:01 AM

I'm new at all this but I've been filling my head with bitcoin news lately and things sound a bit dire... uh, bearish? Still learning the lingo.

If I have a little bitcoin, small time stuff here for you high rollers, but it's 4x my initial investment now, and I'd like to get into other cryptos and learn trading and coding dApps with them...
wouldn't it be a good idea to sell some bitcoin to be able to do that?

It seems like the logical thing to do. But, I'm new to trading and wow it's more complicated than coding. What do you guys think?

Thanks

yes its a good decision while bitcoin is on bearish but as you said you want to learn trading that's why you want to dump some of your profits. Which is not a good idea to be honest because trading isn't easy mate and it requires significant skills and enough knowledge as well.,so don't waste your money if you want to learn trading. Must create demo account instead and keep holding your bitcoin.. And use your money when you are ready, not now that you still lack of experienced because you will burn your account immediately if you do that..be aware and educate you self first to assure everything will gonna be alright. Learn the process how to become a good trader don't be hasty mate. Wink

Wexnident

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Sure, if that's what you think suits you. I mean in the end, it's actually up to you since the "trading" part is ultimately what you are going to do, not us. In the end both cases require you to take on a certain amount of risk, just that in hodling Bitcoin you basically set the same risks in the past as you first did, while in venturing towards other coins, you're technically risking more since you're going to try and find coins to profit from. Ofc, with that said risk, you're going to have a better chance of scoring higher profits, since the more risks you take the more profit you could possibly gain (or lose).

adaseb

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Did you read Arthur Haynes new article. He is basically going to do the opposite. Sell all his alt coins now and buy more BTC and ETH. Why is he doing this?

Well he states that if there is a bear market then BTC and ETH will drop the least. Altcoins can drop 90% or more. So if you sell them now instead of buying them and buy Bitcoin you will end up losing sell. Or you can sell your alt coins now and wait until everything bottoms out and buy BTC then and most likely the alt will be like down 99%.

Findingnemo

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Quote from: dAppsSolutely on January 07, 2022, 06:23:54 PM

Quote from: Findingnemo on January 07, 2022, 03:46:48 PM

So you made 300% profits from investing in bitcoin, If I was you I will look to accumulate more bitcoin than thinking about selling them and buying some other things and just hoping that it will replicate the same to me. Roll Eyes

Good point. Thanks hmm Undecided

Maybe I can find the money somewhere else for the altcoins. Thanks! Cheesy

note: had to repost this again. keeps failing due to some timeout. says saved in drafts but no sign of this drafts folder anywhere

Due to the newbie rank you need 360 seconds gap between your post but its not that longer. And you can see your drafts here : https://bitcointalk.org/index.php?action=drafts

Money is money no matter where it comes from so make use of it effectively, its okay to play with shitcoins for very minimal amount from the total portfolio value but never invest all of them into altcoins.

TinaK

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Quote from: dAppsSolutely on January 07, 2022, 06:23:54 PM

Maybe I can find the money somewhere else for the altcoins. Thanks! Cheesy

Altcoins are useless if bitcoin is down, they have almost tied up the price, and altcoin price swing the same movement to the bitcoin price.
You can focus on bitcoin and if you don't want to lose the value of your bitcoin and if you feel it will drop further, you can diversify your bitcoin into a stable coin and invest back to bitcoin when it will drop furthermore.

But I will rather hold for a long term my bitcoin to have less risk.
There's nothing that will lose you if you will keep holding, 1 bitcoin will remain 1 bitcoin if you keep holding on to it.

dAppsSolutely

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Quote from: Findingnemo on January 07, 2022, 03:46:48 PM

So you made 300% profits from investing in bitcoin, If I was you I will look to accumulate more bitcoin than thinking about selling them and buying some other things and just hoping that it will replicate the same to me. Roll Eyes

Good point. Thanks hmm Undecided

Maybe I can find the money somewhere else for the altcoins. Thanks! Cheesy

note: had to repost this again. keeps failing due to some timeout. says saved in drafts but no sign of this drafts folder anywhere

SquirrelJulietGarden

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Quote from: so98nn on January 07, 2022, 11:50:53 AM

It depends entirely on how much money you got in the bitcoin. I think selling bitcoin is bad idea though because it is prime investment which you should not touch. It comes under elite investment which can grow and go boom at any time. If you wanna invest in altcoins then simply keep that portfolio segregated from the bitcoin.

You can do this only if you don't have pressure to sell your Bitcoin to pay for anything else. Loan repayment call, mortgage call and more. If you don't have a reserve budget for expenses, I believe you will have to sell your Bitcoin and it's bad because you will have to sell it in bear market at lower price than your entry price.

Quote

Moreover, selling bitcoin for altcoins is stupidity as you can loose value in the transactions made due to volatility, transaction fees, maker-taker fees etc. Better get it with Fiat and have proper entry point for the same.

It's worse idea because in bear market, altcoins lose their price at faster rates than Bitcoin. Altcoins can lose 99% of their prices from all time highs in bull market while Bitcoin lose about 80% max. Many altcoins die in bear market, developers abandon altcoin projects and never come back in next bull market. They create new altcoin projects to join a new bull market because it is easier to steal money from altcoin investors.

dAppsSolutely

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Quote from: so98nn on January 07, 2022, 11:50:53 AM

Moreover, selling bitcoin for altcoins is stupidity as you can loose value in the transactions made due to volatility, transaction fees, maker-taker fees etc. Better get it with Fiat and have proper entry point for the same.

Others mentioned this too. Thanks everyone who pointed this out. I think I get it now.

Although, the idea was to sell about a quarter of the bitcoin now when it's still 4x what we paid, get the initial investment back and put it into other coins AFTER they all plummet. The whole idea relies on them dropping significantly this spring, I know. That's why I'm asking here, to get others' opinions and hopefully some opinions backed up by facts.

Quote from: so98nn on January 07, 2022, 11:50:53 AM

Also, ever thought how much it would cost you to sell little bitcoin? Think.

It's free because I'm a noob and bought it through robinhood. At least I get free trades. Wallet coming out this year they say.

Note: Had to repost this because of some glitch with the forum. Let's hope it doesn't make a duplicate.

dAppsSolutely

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Quote from: SquirrelJulietGarden on January 07, 2022, 10:21:15 AM

I don't understand what is your plan. Do you want to invest into altcoin projects which are related to dApps, Web3? Do you want to create your own project and you are CEO, CTO?

My plan isn't quite clear yet. I'm trying to get guidance on that here: https://bitcointalk.org/index.php?topic=5380372.new#new

In a nutshell I want to switch from web development to web 3.0 development and start building dApps. But, I don't even know what that looks like yet. And, I'm getting the idea that I should just ask this stuff in a coder forum. I thought there might be dApp coders here.

Johnyz

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If you’re still in profit while the price of Bitcoin is dumping, I believe you can secure that profit now and buy later on once the market recovers but if you are already in loss better to keep on holding since selling and panicking at a big loss is not good at all. I’ll still choose BTC over altcoins, you can just have them by increasing your capital so you can keep your Bitcoin.

Findingnemo

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Quote from: dAppsSolutely on January 07, 2022, 05:09:01 AM

I'm new at all this but I've been filling my head with bitcoin news lately and things sound a bit dire... uh, bearish? Still learning the lingo.

If I have a little bitcoin, small time stuff here for you high rollers, but it's 4x my initial investment now, and I'd like to get into other cryptos and learn trading and coding dApps with them...
wouldn't it be a good idea to sell some bitcoin to be able to do that?

It seems like the logical thing to do. But, I'm new to trading and wow it's more complicated than coding. What do you guys think?

Thanks

So you made 300% profits from investing in bitcoin, If I was you I will look to accumulate more bitcoin than thinking about selling them and buying some other things and just hoping that it will replicate the same to me. Roll Eyes

dothebeats

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This is a matter of personal choice, research, and preference, and could not be answered by any one of us here. If you deem altcoins as worthy during this bearish season, then go for it and explore some alts that you wanted to hold for a long time now. Personally, I already sold some of my bitcoins and I'm holding the proceeds on stablecoins, and still researching on which alts to grab and play with. During these times, there are some 'outliers' that manage to make some decent increase in price all while the market is scrambling to get back to its feet.

passwordnow

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Traders do that but, are you capable of doing that? Me as a holder, I don't do that and I let bitcoin on hold because that's the thing that I know and based on experience, having bitcoin is profitable. But if you know what you're doing and you have an idea of doing it, basically, you have to trade it and see where it's going to be profitable as you convert that bitcoin into the alt that you think is very much profitable. You're the owner of your money and you can make your own rules.

Fesatmas

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It's a natural position if you panic, we're used to bearish moments here. Don't ruin your finances if you only invest in the short term. Obviously, it will be very dangerous for your investment life. Try to look at it from a long-term perspective, the market is always volatile, so if you find a bear market and you have bought it at a high price, it's better to leave the market and come back when everything has recovered. Thinking about reducing the value in the portfolio will only make you psychologically stressed.

so98nn

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It depends entirely on how much money you got in the bitcoin. I think selling bitcoin is bad idea though because it is prime investment which you should not touch. It comes under elite investment which can grow and go boom at any time. If you wanna invest in altcoins then simply keep that portfolio segregated from the bitcoin.

Moreover, selling bitcoin for altcoins is stupidity as you can loose value in the transactions made due to volatility, transaction fees, maker-taker fees etc. Better get it with Fiat and have proper entry point for the same.

Also, ever thought how much it would cost you to sell little bitcoin? Think.

michellee

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In this situation, it is better to hold your bitcoin still because you will not make a big profit. Bitcoin gets correction again and makes the price is down to the lower price. The first thing you should remember in any investment is just investing for the amount that you can afford and do not break your limit because that is for your safety.

If you have bitcoin, no matter how much the amount of bitcoin, it is better to keep hold and wait for the next rises and sell it at that time. If you decide to be a trader, you need to learn many other lessons that will not be the same as a holder. If you want to become a holder, you need to know how long you want to hold your bitcoin and what is your target price to sell your bitcoin. It is not too complicated because the thing that makes it complicated is your greed.

AicecreaME

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Quote from: dAppsSolutely on January 07, 2022, 05:09:01 AM

I'm new at all this but I've been filling my head with bitcoin news lately and things sound a bit dire... uh, bearish? Still learning the lingo.

If I have a little bitcoin, small time stuff here for you high rollers, but it's 4x my initial investment now, and I'd like to get into other cryptos and learn trading and coding dApps with them...
wouldn't it be a good idea to sell some bitcoin to be able to do that?

It seems like the logical thing to do. But, I'm new to trading and wow it's more complicated than coding. What do you guys think?

Thanks

I'd rather hodl my bitcoin rather than risk it by selling at a very low price just to risk it again by investing to some random altcoins in the market. The profit you could get by hodling is much more better than the "profits" you could make by risking it to some altcoins in the long run, the higher the volatility, the better in the long run, in my opinion.

Don't get too excited or scared because of the recent dump, it's normal.

Topic: Sell a little bitcoin now to get into alts when it all drops soon? - page 3. (Read 448 times)