Selling your alts for Bitcoin while it's down is a lot more risky than you think.
Instead, the best thing to do is to buy more bitcoin with fiat.
It needs to be bitcoin though, even if you believe in eth or what not, percentage wise, bitcoin has the biggest "sale"
On top of that, there is no way that this is it for bitcoin.
After this price correction, it will make a bull run all the way up to 25k.
If you don't have any spare cash to buy some bitcoin, then I would really just do nothing.
The best way to ride it out is to just completely ignore it.
Like others have said, read a book, take a swim, have a picnic, two to three weeks later, come back.
If it's still down, ride a bike! Cook some pasta! Then come back etc.
Topic: Sell all alts for Bitcoin while it's down? - page 3. (Read 965 times)
I don't think selling all altcoins for Bitcoin is a good idea at the moment. Yes, Bitcoin is very low right now, but so are the alts. On the other hand I don't like to put all eggs in one basket.
well, I started to sell altcoins for BTC since this weekend, seems to be reasonanble while BTC is lower than 8k... now it is getting lower and lower..
by the way what exchange do you use for it?
I used coinmonkey exchanger. At least it was fast, though I am actually a little bit discouraged by general market decline. also have WRC tokens and they dropped back to ICO price.
by the way what exchange do you use for it?
I used coinmonkey exchanger. At least it was fast, though I am actually a little bit discouraged by general market decline. also have WRC tokens and they dropped back to ICO price.
Bitcoin or altcoin the only thing that matters now is dollars (Fiat) because that is what we collect in our bank account and most of the people including me is here to become a wealthy in fiat and not in any cryptocurrencies. Once I'm wealthy enough in my real life I may look at Bitcoin or Crypto value.
I think that's the wrong strategy, maybe we should buy alt-coin and bitcoin now and keep it for sale when prices go up
If you want to invest all your money for a really long time, then do it. Otherwise if you want to withdraw them sometimes the BTC is not the best choice -- you'll loose too much on commissions.
I know everything is down right now.. especially Bitcoin.. Should we sell our alts for Btc and rebuy when it rises again or is it much for muchness?
It's not really the best idea for selling whatever coins you have when market is down or in bad crisis because you'll lose more money than just holding.
Instead it's the best time to buy more and invest more of you have money in your stash because it's the fact that everything will be soon pumping after the correction or dip that were experiencing this past days.
I know everything is down right now.. especially Bitcoin.. Should we sell our alts for Btc and rebuy when it rises again or is it much for muchness?
That is one pretty good strategy, buy Bitcoin when the price is cheap. But you can not sacrifice your chances to be profitable while having some Altcoin, I suggest saving some of your investment in Altcoin and selling it partly to take the chance of having a Bitcoin price at a low price.Every circumstance must definitely sacrifice some things, It could be a pretty safe choice because there is dividing the investment portion by about 50%. The digital currency market is being hit by some very vital issues, therefore we must always pay attention to every movement of coin we have. Quick and precise decision-making will affect the future as well as what we will get.
Never make a decision late and make sure you get the right momentum when selling and buying Bitcoin / Altcoin.
This is wrong idea when the value was falling you sell it then if rising you buy again that was not good idea that was a very wrong. When the value was down you should buy and invest for the future of rising value and get a profit when its rising so if you are real trader you never think to sell you coins in a small amount and buy with the high amount so think carefully and think like a real trader.
Hold both Altcoins and Bitcoin. You will never know which one will go up or when will it go up. My advice will be to diversify portofolio in order to lower risks and maximize profits.
if you go in such a way as the author suggests, it is better to buy etherium, in my opinion this is a more intelligent solution in the current situation
I know everything is down right now.. especially Bitcoin.. Should we sell our alts for Btc and rebuy when it rises again or is it much for muchness?
well to me it is all about %. if you think bitcoin can increase as much of a % as your alts will do or more then you should sell for bitcoin. but if you have some coins who have a great potential you should keep the alt as most alts are going to be able to rise more %wise then bitcoin
your strategy does not work and it does not work out, everyone knows that along with Bitcoin, the altсoines have collapsed, that is, the value of the portfolio from the change of places will not change
By doing this you are assuming that the rise in the bitcoin price will be able to generate enough profits for your loss in altcoins. Most altcoins are connected to bitcoins in one way or the other, so a decrease in the bitcoin price will definitely have an effect on the altcoin prices, and since altcoins are priced lower than bitcoins, the rise of bitcoin will generate more profits for investments in altcoins than bitcoins in most cases.
I don't think so because to sell our altcoin while the price is down is only bring a lost for us and although we can get our bitcoin back, the amount will be reduced than before. like what I see today when bitcoin is down, many altcoins is down too and it's mean, we cannot make any profit and if we can wait a little longer, then I think we can sell the altcoin when the price is back to increase. but maybe he prefers to sell the altcoin to get his bitcoin back than to hold his altcoin and wait until the price increase again.
By doing this you are assuming that the rise in the bitcoin price will be able to generate enough profits for your loss in altcoins. Most altcoins are connected to bitcoins in one way or the other, so a decrease in the bitcoin price will definitely have an effect on the altcoin prices, and since altcoins are priced lower than bitcoins, the rise of bitcoin will generate more profits for investments in altcoins than bitcoins in most cases.
I know everything is down right now.. especially Bitcoin.. Should we sell our alts for Btc and rebuy when it rises again or is it much for muchness?
I do not recommend selling. Maintain confidence in Bitcoin. After its price will break the record. All you have to do is keep bitcoin. I believe it will not let you down in the future. I never sell my alts because I believed that all of them have potential to earn more profit in the future , It's a shopping time while bitcoin and whole market price is down
but i think that you can earn more if you sell it to bitcoin because when the price of alt raise the bitcoin will raise also , and you can earn more comparing bitcoin vs the alt you hold , the bitcoin price is fast moving so when it rise expect that you will earn more unlike when the price of alt raise it is limited to its low value unless you will hold for a long time.
I believe in the projects I have invested in and they still have a lot of promise and upside and some will provide me with the passive income to semi retire from once they get going and grow bigger, so No I will NOT be selling right now any altcons for Bitcoin but if I have spare cash, I sometimes buy a little bitcoin with that, after I have seen my monthly living expenses are all covered and paid for. I am going long on some of my altcoin positions right now.
Can you tell me which altcoins you are holding and what is your strategy for them?
I believe in the projects I have invested in and they still have a lot of promise and upside and some will provide me with the passive income to semi retire from once they get going and grow bigger, so No I will NOT be selling right now any altcons for Bitcoin but if I have spare cash, I sometimes buy a little bitcoin with that, after I have seen my monthly living expenses are all covered and paid for. I am going long on some of my altcoin positions right now.
Wouldnt it make sense to sell it for usdt instead?
Jump to: