Sell My Portfolio for 75% of a Bitcoin? - page 2.

Fredomago

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Quote from: ene1980 on June 07, 2021, 05:40:14 PM

Quote from: jilkspie2 on June 06, 2021, 05:41:58 PM

I was looking at my portfolio this morning and realized I have enough to convert all of my coins and have 0.75 of a full Bitcoin. It has always been a dream of mine to own a full Bitcoin. Right as of now I only have about 20% (0.20) of a Bitcoin.

Since you said you are holding the coins in multiple cryptocurrency it is difficult to give you an opinion as there are several coins that rallied in the past few months and there is a possibility that some of them will go down as well and if you are smart enough book your profit when the price is rallying rather than holding them expecting them to go further.

The choice is yours on how you want to hold your investment and in my past rallies there were points in time where i thought about holding further for some of the coins i am holding rather than converting them and just like that the valuations went away when there was a major correction. So take your decisions wisely.

The final decision always relied upon you, but I like the idea of booking the profits while the value still up,
instead of being greedy thinking that the asset will grow for more.
But if you have such goals and you do believe that what you now have are good enough to keep and wait for
the moment that you'll see the real value to reached 1 full Bitcoin.
Aiming for long-term and holding good assets will fulfil your target. Good luck!

ene1980

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Quote from: jilkspie2 on June 06, 2021, 05:41:58 PM

I was looking at my portfolio this morning and realized I have enough to convert all of my coins and have 0.75 of a full Bitcoin. It has always been a dream of mine to own a full Bitcoin. Right as of now I only have about 20% (0.20) of a Bitcoin.

Since you said you are holding the coins in multiple cryptocurrency it is difficult to give you an opinion as there are several coins that rallied in the past few months and there is a possibility that some of them will go down as well and if you are smart enough book your profit when the price is rallying rather than holding them expecting them to go further.

The choice is yours on how you want to hold your investment and in my past rallies there were points in time where i thought about holding further for some of the coins i am holding rather than converting them and just like that the valuations went away when there was a major correction. So take your decisions wisely.

Yatsan

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If you are seeing betterment with your portfolio by doing a big decision of converting those cryptocurrency coins and make it into Bitcoin possession, then it is up to you but you have a point that by doing such you will be compromising the possibility of exploring the other innovations in crypto within the vast market we are currently into. But having 0.75 Bitcoin is really a big thing though. It is a hard time doing the decision but if you see that you can grab the big chance of obtaining a big portion of Bitcoin, then do it because you can acquire once again those cryptocurrency coins you will be selling for the sake of Bitcoin.

Branflakes92

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Quote from: Vishnu.Reang on June 07, 2021, 09:58:38 AM

Quote from: Branflakes92 on June 07, 2021, 09:50:06 AM

My portfolio is 50% BTC, 25% ETH, 25% XMR. And, as much as I love those coins, I would dump them all in a heartbeat to get that magical 1BTC.

Mine is more than 90% BTC now. Back in 2018, I sold most of my alts, and converted them to either ETH or BTC. That proved to be a good step, because the coins that I sold back then (BitSend, Denarius, Gbyte.etc) are now almost worthless. And I am sure that the same will happen to many of the coins listed out by OP. I am not saying this about coins such as ADA and ETH, but about the other alts in that list. The recent bull rally has taken the altcoin market share from less than 25% to more than 50%, and this has made many of these coins heavily overpriced.

Mine was supposed to be closer to 70% BTC but the recent correction and ETH/XMR's performance vs BTC has pulled these two much closer to BTC than before. I do see ETH/XMR as having a lot of staying power (smart contracts/defi and low fees/privacy respectively) and would like to hope they will not crash too much more than BTC after this bullrun is done, and perhaps even decouple (although I see that as unlikely for a long time). I am a new investor this cycle though, started DCAing in Feb 2021, so I am a noobie to swings of the market so could end up being totally wrong.

pawanjain

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That would probably be a bad idea. I know how it feels because similar to you even I have the dream of holding one whole bitcoin.
But if I were in your place then I would not sell all my altcoins to hold 0.75 BTC. If the altcoins you hold do have a lot of potential then may be they might give you more than 1 BTC all combined but if you convert your altcoins to bitcoin then they will stay 0.75 only. Yes, the opposite can also happen and you might lose the amount in bitcoin pair as well but that's the risk you have to take.
Also, we should never put all our eggs in one basket and diversify our portfolio but I do think that 10 coins are a lot.
I think 5 are sufficient and you can exchange the rest to bitcoins. Eventually it should be your final call.

bitbollo

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Most of altcoins are just a pump and dump scheme. It's very risky growth a portfolio where the exposition to altcoins is bigger then 50%.
Even if we have seen some "miracle" in the past this doesn't means it's something easy or it can happens with a certain frequency.
Please note that the value of some altcoins can be flawed by some mistakes: there is not enough market volume, shady exchanges with high price, transactions fees and exchange fees.

UserU

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I reckon its better to keep the alts while slowly earning Bitcoin along the way. Alts have good growing potential and selling all of them while the prices are still sideways isn't a good idea.

But its your choice in the end, and if you like seeing the full 1 digit, by all means.

Vishnu.Reang

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Quote from: Branflakes92 on June 07, 2021, 09:50:06 AM

My portfolio is 50% BTC, 25% ETH, 25% XMR. And, as much as I love those coins, I would dump them all in a heartbeat to get that magical 1BTC.

Mine is more than 90% BTC now. Back in 2018, I sold most of my alts, and converted them to either ETH or BTC. That proved to be a good step, because the coins that I sold back then (BitSend, Denarius, Gbyte.etc) are now almost worthless. And I am sure that the same will happen to many of the coins listed out by OP. I am not saying this about coins such as ADA and ETH, but about the other alts in that list. The recent bull rally has taken the altcoin market share from less than 25% to more than 50%, and this has made many of these coins heavily overpriced.

Branflakes92

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If its your dream to get a full bitcoin then absolutely get it done. You'll be annoyed if you don't imo. Altcoins are performing well against bitcoin compared to how the were doing a few months ago, so you'll get a lot more for your money. Of course its possible that those coins will rise faster still than bitcoin but that's the risk you take.

My portfolio is 50% BTC, 25% ETH, 25% XMR. And, as much as I love those coins, I would dump them all in a heartbeat to get that magical 1BTC.

TopTort777

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This is actually a very smart move. From my point of view, chances that bitcoin will recover and recover quicker are higher than any altcoin will do the same. Also, if bitcoin recovers, no doubts that it will update ath. While when bitcoin price was 64k$, not every altcoin updated its ath.

swiftbits

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Not my expertise to share great insights; for me, it would be better to minimize the number of alternative coins you invested in.
Maybe limit it to under 5. many altcoins come and go at the market chart; choose the safest coin out there.

Chato1977

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Quote from: jilkspie2 on June 06, 2021, 05:41:58 PM

My portfolio has become quite extensive, in my opinion.

I am in about 10 different cryptocurrencies, all that aim to provide a lot of real world value.

I was looking at my portfolio this morning and realized I have enough to convert all of my coins and have 0.75 of a full Bitcoin. It has always been a dream of mine to own a full Bitcoin. Right as of now I only have about 20% (0.20) of a Bitcoin.

I know that Bitcoin will always be THE store of value, but I think it would not be wise to miss out on the other innovations the cryptocurrency space has to offer.

Let me know what you guys think.

Never let your desire goes to Altcoin against bitcoin..

if you wanted to sell then only part of it but maintain the majority of funds inside Bitcoin and not for altcoin.

You will regret that decision all your life trust me.

yazher

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That's really some hard decision you got there but all of the users here can only give you their suggestions at the end of the day you will gonna choose what to do with your current portfolio. With this kind of market situation, you need to decide courageously with your own personal decision that whatever might happened you don't regret after that. There are lots of happening right now after the price fell from more than $50k and no one really knows when will it be back again so it is better that whatever decision you will make after this, you won't ever regret it.

Vishnu.Reang

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With the altcoins looking inflated right now, I would agree with your suggestion of increasing the share of BTC to at least 75%. But needs to analyze various cryptocurrencies carefully which of the alts you need to sell. Obviously you need to reduce the share of ETH, since it is 30% of the portfolio. I would suggest to sell 4/5th of the XMR holding. The same advice with XRP as well, because these coins are looking overpriced with low future potential. Would do the same with ALGO, ONE and HOT. With LINK and ADA, I would be more cautious.

Ararbermas

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Always keep in mind that bitcoin still the real king when it comes long term hodling.. Yes there's a lot of opportunities in crypto space but you don't even know how can it guarantee after all unlike bitcoin wherein proven and tested even before that day when the value wasn't too high. So how much more now?
Indeed it has good technology so it always too good to rely, surely this the common reason as well after it plunges it rocketed because a bunch of investors still see it good and very promising even everytime here in crypto space there's a new projects emerges.. Be smart mate don't easily fell in other advices.

Lucius

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Quote from: goinmerry on June 07, 2021, 03:02:53 AM

It's your dream to own a BTC1 so why still confused? Go ahead and sell your altcoins as the more days are passing, it will just make you more confused.

He’s not confused, he’s just hesitant about the moment he should make such a move. The first reason why he hesitates is that he will still not have 1 BTC even if he sells everything he has - and the second is that somewhere in his subconscious he knows that he could have achieved his goal if he had done it a month ago.

In other words, if he didn't take the opportunity when the whole market was at its peak - why do it now?

kotajikikox

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Quote from: jilkspie2 on June 06, 2021, 05:41:58 PM

My portfolio has become quite extensive, in my opinion.

I am in about 10 different cryptocurrencies, all that aim to provide a lot of real world value.

I was looking at my portfolio this morning and realized I have enough to convert all of my coins and have 0.75 of a full Bitcoin. It has always been a dream of mine to own a full Bitcoin. Right as of now I only have about 20% (0.20) of a Bitcoin.

Wait how much is your capital from this investment ?

Because from that will appear our advices mate, it is hard to tell you what to decide if i dont know how much earning or losses you have.

Quote

I know that Bitcoin will always be THE store of value, but I think it would not be wise to miss out on the other innovations the cryptocurrency space has to offer.

Let me know what you guys think.

Wait you are aiming for 1 whole bitcoin then you best not to have this kind of behavior because it looks like you are turning into either maintaining altcoins or jumping to bitcoin.

aoluain

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@pooya87 has it right in all points.

I currently have 100% in Bitcoin, I used to have some alts but over a year ago I
exchanged all back into Bitcoin.

If I look at those alts now, they are gone outside the top 10 in Coinmarketcap and
the altcoin section of the forum is rarely talking about them. The focus in alts
is constantly changing to the newer project which promises to have a real
world solution, until the next new project comes along.

Altcoins are for the developers of those alts to take Bitcoin from people and
offer those people a 1 in xxxxx chance to get rich quick.

We all know how different that is compared to Bitcoin.

goinmerry

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It's your dream to own a BTC1 so why still confused? Go ahead and sell your altcoins as the more days are passing, it will just make you more confused.

Since you managed to get your portfolio up to where it's now, I'm sure you can gain back your altcoins again after some endless trades and will now reach your 25% target more to reach BTC1.

In terms of trading "to" BTC, I don't really hesitate even those altcoins are valuable for one reason that there's no turning back if the other way around happened which is losing the value of those altcoins. Long-term-wise, nothing beats Bitcoin.

20kevin20

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Are you in for the long term? Do you care about USD or BTC profits?

Ask yourself questions and determine what the best choice is for you. If you're in for the long term, perhaps Bitcoin is the best option for you. But no matter if you care about USD or BTC profits, Bitcoin almost always provided the largest one over the long term.

However, we obviously have exceptions. Ethereum rose massively since last year, but the BTC value never reached an ATH. Had you invested in it though, you would've had today more money than if you had invested in Bitcoin.

I'd put my money into Bitcoin and keep it for the long term. For me, this was always the safest bet.

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