Sell all alts to buy more cheaper? - page 5.

bitcub

sr. member

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You are doing it right. Holding is stupidity. Look I bought Siacoin at 600 sats now its 100 or in 90 sats? They said Hold, but look I lose 500%
Rule of the thumb, if theres an upcoming price rally for BTC. Sell all your alts, and expect a huge dumps everyday.

Once Bitcoin reached the top, sell all your BTC to USDT. Or you can play swing trading with alts.

Quote from: jmigdlc99 on October 10, 2017, 12:43:06 AM

With the upcoming bitcoin fork and the so called "dividend" that will be received thru bitcoin gold the price of BTC is on the rise. I am considering selling all my altcoins, even at a loss, so that i can buy more of them once bitcoin's price rises up higher.

What are your thoughts on this? Would this be a good strategy?

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: jmigdlc99 on October 10, 2017, 12:43:06 AM

With the upcoming bitcoin fork and the so called "dividend" that will be received thru bitcoin gold the price of BTC is on the rise. I am considering selling all my altcoins, even at a loss, so that i can buy more of them once bitcoin's price rises up higher.

What are your thoughts on this? Would this be a good strategy?

I would not support your idea. I know that this is the current thing going on in the market and that some youtube pump and dump groups are doing this. I am not going to name anyone here but my suggestion in trading is to do the unexpected and ride the opposite wave. Once the fork in complete people are going to dump all the new altcoin from bitcoin along with buying of the altcoins that they had sold away for bitcoin.

Hence there will be a rise in the price of altcoins after the fork. This is the moment that the whales will sell some altcoins and make profits. If you are sensible then I suggest you not to sell all your altcoins but to sell them after the pump happens after the fork.

Prettyme

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I think it is a good way to do. When you are starting in trading you should do this in order for you to make more coins to be trade. So buy altcoins sell it and buy again more cheaper altcoins then sell it again. Thats how trading work.

tranle789

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I think if you want to do this then you have to know the market analysis and be predictable at altcoin up and altcoin down, this is really hard because all altcoin now depends a lot on the Bitcoin price

Siren

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Quote from: jmigdlc99 on October 10, 2017, 12:43:06 AM

With the upcoming bitcoin fork and the so called "dividend" that will be received thru bitcoin gold the price of BTC is on the rise. I am considering selling all my altcoins, even at a loss, so that i can buy more of them once bitcoin's price rises up higher.

What are your thoughts on this? Would this be a good strategy?

If you really want to get a lot of free bitcoin gold then you should sold your altcoin right away and moved to bitcoin. Bitcoin suddenly on a slid today, so its a good entry point. And since you are on the negative side, much better to exit the altcoin section while you can, otherwise you will be really trap and soon will just sell to covered all your losses. So I would advise you to go out of altcoins then transfer all of it into bitcoin, get your free bitcoin then decide whether you want to invest it to altcoin or just stick to the reliable bitcoin market.

pawanjain

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Nothing lasts forever

That's a well known good strategy brother. Don't worry about the others who say its a loss. They probably don't know how trading works.
If You believe that the coin you invested in has a good potential and it will fall further to rise back later then it's probably the best thing to sell it now to buy back at a cheaper price. To be logical even that's considered as a profit. But be careful as to which coin you are investing in because if it doesn't have the potential to rise up then you are doomed.

lilRoy07

full member

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with great gain comes great loss.

I often sell to buy back, but the margin of profit doesn't always workout in my favour.

ive been stung 1-2 times on a fast moving ship.

Sithara007

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It would be a good idea to sell the alts now. Look at the alt market caps. There are a total of 11 alts with a market cap of over $1 billion. And another 47 with a market cap of over $100 million. I don't think that there is anything to justify this inflated market caps. They are not accepted as currency anywhere and they don't have a large number of users.

choirunn

newbie

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you should not need to sell your altcoin, if you sell it you will get a loss, you just hold your coin course price will back up, so my strategy is only hold until the price back up.

Natsuu

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Quote from: Wind_FURY on October 10, 2017, 02:17:52 AM

Quote from: jmigdlc99 on October 10, 2017, 12:43:06 AM

With the upcoming bitcoin fork and the so called "dividend" that will be received thru bitcoin gold the price of BTC is on the rise. I am considering selling all my altcoins, even at a loss, so that i can buy more of them once bitcoin's price rises up higher.

What are your thoughts on this? Would this be a good strategy?

Are you sure the price of your altcoins are not on the bottom? If they are it would be better for you to keep holding them. You should have thought about this a month ago when the prices were not that bad.

I would agree to this. You want to sell your alts now then buy back again? I don't think it's a good idea, I suggest don't touch your coins and stay it on your wallet. You could just lose profit if you sell then buy back, and there's a small chance of getting good price again. Don't risk your alts just because you want to ride the waves.

ethereumhunter

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Quote from: jmigdlc99 on October 10, 2017, 12:43:06 AM

With the upcoming bitcoin fork and the so called "dividend" that will be received thru bitcoin gold the price of BTC is on the rise. I am considering selling all my altcoins, even at a loss, so that i can buy more of them once bitcoin's price rises up higher.

What are your thoughts on this? Would this be a good strategy?

with the bitcoin price is increase, altcoin will be down but for me, i don't think that to sell all alts could be a solution because our bitcoin is reduce too much and although if we sell our btc we can make profit too. but still for me, i don't sell all my alts but if i see some of my altcoin can give me a profit even for small profit, i think i will sell it so i can hold btc and waiting the high price again. i think when the altcoin is down, we can buy it again and still waiting the price is up again and gladly i can buy at low price for almost all of my coins so if i sell it now, i still can make profit Grin

Bolt Brownie

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Quote from: jmigdlc99 on October 10, 2017, 12:43:06 AM

With the upcoming bitcoin fork and the so called "dividend" that will be received thru bitcoin gold the price of BTC is on the rise. I am considering selling all my altcoins, even at a loss, so that i can buy more of them once bitcoin's price rises up higher.

What are your thoughts on this? Would this be a good strategy?

I think that's what the majority of people are doing. They are selling their alts to buy more bitcoin and get more bgold. During the ride they are also benefiting from rise in the price of bitcoin itself, so I think it's always a win for them, even if the bgold comes out with no real value. When bgold comes out, they will probably just sell it, and start buyin back some of their favorite alts again, or just more BTC, if it continues to rise.

ignorans

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Buying bitcoins with this heavy rising is not a good idea in my opinion. Are you sure that Btc gold's value will be enough to cover what you are spending at the moment? Don't think so. Just my opinion of course

Idrisu

sr. member

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Now is the best time to buy bitcoin as the buying momentum is very high. Many traders are converting there altcoins currently because of the fort coming hardfork issue. Though bitcoin gold is not as popular as when we have the last splitting. I will advise you to be ready to buy more altcoins in days to come as fund will flow back to altcoins markets. This is the circle of this market, we should also expect bitcoin to cross $5000 before the end of this week as the market is now in it favor.

Pursuer

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since altcoins are going down, I think it is pretty obvious that you should have sold your coins and kept out of the altcoin market until the prices reach the bottom and start showing any signs of recovery before you re-enter the market.

also this is not because of the upcoming fork(s) though. it is a general suggestion that you always sell before the altcoin dumps start. right now the altcoin dump is intensified only because of bitcoin price rising. if there were no rise in bitcoin price, the dumps in altcoins still would have happened but they may have been smaller then.

nydiacaskey01

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Quote from: jmigdlc99 on October 10, 2017, 12:43:06 AM

With the upcoming bitcoin fork and the so called "dividend" that will be received thru bitcoin gold the price of BTC is on the rise. I am considering selling all my altcoins, even at a loss, so that i can buy more of them once bitcoin's price rises up higher.

What are your thoughts on this? Would this be a good strategy?

No. That's not a good idea. If you bought $100 worth of NEO and sell at below Buy price and you get $70 worth of BTC. You lost 30%. Since you are now holding BTC, you need BTC to climb up to 50% (50% of $70 = $35). At today's BTC rate, which is example $4,800, that means BTC needs to reach $7,200 so that you gain back that $105. Math gurus out there, please correct me if my computation is wrong.

gameK

jr. member

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Just don't miss your opportunities on other altcoins. BitcoinGold can be bought so why you have to sell all your altcoins into Bitcoin to just receive some BitcoinGold when you're loss at altcoins. In my opinion it's not a good stragedy at all. Just gather at much Bitcoin as you can. Don't sell your altcoins.

futurebitcoins

full member

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Quote from: Ignacia on October 10, 2017, 02:08:13 AM

Yes, i agree, its a good strategy. There is a very high probability, that alts will continue to fall

But no one can tell you what the bottom price so it is not good to sell all instead you can buy more when prices go down to average down your prices.

Renai0925

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Quote from: jmigdlc99 on October 10, 2017, 12:43:06 AM

With the upcoming bitcoin fork and the so called "dividend" that will be received thru bitcoin gold the price of BTC is on the rise. I am considering selling all my altcoins, even at a loss, so that i can buy more of them once bitcoin's price rises up higher.

What are your thoughts on this? Would this be a good strategy?

If you have cut your losses at 5% it would have been a sound strategy. Cut losses then buy at bottom price. But if you were still contemplating by the time you posted this its already too late. It seems to have stopped falling for now but who knows. Just hold. at least if bitcoin gold turns out to be shitcoins it's a good thing you diversified.

Blamsud

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Quote from: coinjack1337 on October 10, 2017, 03:10:40 AM

It depends on your diversity.

Considering Bitcoin Gold will have similar price like Bitcoin Cash - so about 10% of Bitcoin's value - your Profit from Bitcoin Gold will be 10% if you sold all your alts. Since most alts are down more than 10% right now, you will probably be at loss. Also, don't Forget that the alts will rise again after fork, so to my mind now is the best time to buy alts, not BTC.

Also, i don't think that Bitcoin Gold will get much Reputation nor Support by the exchanges.

When you believe that coin still have a potential to recover then better hold to it. It's veey much possible that alts can recover as long as the project is still in development process.

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