Should I buy BTC or DCA other coins?

Oshosondy

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Quote from: ItsCrafty on June 08, 2022, 12:06:41 PM

I think if you have enough knowledge of DCA and you believe that you will make good earn from DCA than offcourse use DCA because profit is big then just holding BTC.
But for safe trading I would recommend to hold BTC in your wallet and wait for breakout.

I will prefer to just wait for bear market, buy bitcoin, wait also for bull market and sell the bitcoin I bought during bear market. Buying and selling this way may not be easy in reality than in theory, but patience can help and a time when the market go further bearish is indicating a better time to buy. It all depends on what we want because dollar cost average is also a good helping means.

ItsCrafty

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I think if you have enough knowledge of DCA and you believe that you will make good earn from DCA than offcourse use DCA because profit is big then just holding BTC.
But for safe trading I would recommend to hold BTC in your wallet and wait for breakout.

SquallLeonhart

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Diversification is very important, I would not really say that you should buy "only" bitcoin, but if the idea of buying something is horrible small cap stuff and take a huge risk, then it is better to just focus on bitcoin alone. The way people make money is patience, and acting smart and not making serious mistakes.

If you know what you are doing, either bitcoin or DCA altcoins both would work, it all depends on how you do it and not what you do. Both systems would work. I personally have 3-4 coins that I am heavily invested into, bitcoin being the biggest them all, and I never bought a coin that crashed to zero, and I will probably never have one neither.

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Quote from: taufik123 on May 25, 2022, 12:02:41 AM

DCA can be the best choice for buying bitcoin, because by using the DCA strategy you can buy bitcoins with money you can afford on a regular basis and hold it for a long time or Long term until it reaches the latest ATH. Bitcoin is the best choice for implementing DCA or you can choose Ethereum, BNB and altcoins that are in the top 10 of CMC. The most important thing is to be consistent.

But right now I'm seeing a decline in all types of coins. starting to get a little anxious to see prices getting worse in Q2. There are things you should be aware of about declines that are worse than this. Don't take careless action.

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Quote from: a298b112 on May 24, 2022, 09:25:30 AM

Since prices are down, I am going to spend some money for shopping. Not a lot, just what I can spend.
Now the question is, should I buy BTC (currently I don't have any BTC) or should I do DCA for ETH, SOL or DOT?
Now the reason I am asking this question is I have some of ETH, SOL and DOT, and I still consider that my ETH and DOT average prices are little bit higher, so DCAing would be nice option. But then, given that the I am little concerned what might happen to SOL and DOT in this phase of the market. Anyway, thanks.

What type of Trader are you anyway? is it Short term or Long term investors?
Because if you know in which of these two you belongs, I am pretty sure you know the answer to your
own questions. And if you are matured enough here in the crypto space, surely Bitcoin will be your first
priority on this matter then you will hold it in the long term or even you choose to become short term
trader you can able to earn also in your daily life here.

sklopan

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Of course I understand everything, but what can stop you? If you understand all the risks, it is quite possible to buy.

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Quote from: Yamifoud on June 05, 2022, 04:55:57 PM

But fortunately, there are no backup claims that support the possible huge decline of the market driving Bitcoin price to fall to $25k. What just we see is that all are positive views and the correction that we have now isn't bad to look at and we keep holding the line at $28k. Now that people are too optimistic about the future and coming halving, the majority were taken to make a buy option rather than waiting and looking for the bottom price. In this situation, we can therefore say that instead of thinking it drops more, it is too possible to see for an early recovery.

I think recovery from 29k will happen but there is a resistance being felt for reaching the 30k price. Possible selling pressure at this range.

Even then buying bitcoin should be the main target, altcoins are not as good as bitcoin in terms of ROI and long term value. If someone fancies them, then by all means go for them, but your faith should be clear on their vision - of course their vision will change all of a sudden and give you a shock in the middle of the holding period. Grin

With a little bit of patience a lot of these things can be cleared with checking the older charts which clearly reveal that bitcoin has been giving the maximum returns. Fact is that most users here will not do this little bit of homework before asking a question.

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Quote from: KennyR on June 06, 2022, 06:59:43 PM

Quote from: blockman on June 06, 2022, 06:50:27 PM

Those are good choices so if you're done stacking bitcoin and you think that you've got enough then proceed to your next choice of those altcoins. ETH is one of my top choices after bitcoin. So if you're trying to get as much as you can and balancing the portfolio you've got.
You should choose the best that you think that will fit your portfolio and you truly like because it is your money that you're investing and not the others to intervene with your decisions.

Well said, prioritise bitcoin. When you're fulfilled with the Staking of bitcoin go for altcoins. One contrary altcoins were the one to provide higher ROI than bitcoin, but it has got the risk higher than bitcoin investment. Whenever you make an investment it needs to be diversified, so it is possible to minimize the loss even when the market is on its worse.

You lack a letter of "C". Staking and stacking are different, just a correction with that. Choosing with altcoins, you've got to think of it as you already are aware of it based on your option and knowledge. You can choose anything that you want to but it doesn't guarantee you profits and it's not going to skip the risk that you'll take. As you diversify, it's not going to be that much or too many of it, a few will do together with bitcoin and that's going to make your portfolio stronger.

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Quote from: blockman on June 06, 2022, 06:50:27 PM

Quote from: TelolettOm on June 05, 2022, 06:43:54 PM

If you think it is enough to have BTC, you may diversify again your money into some altcoins with higher risks if you want. ETH and DOT are also my choices. But never follows what other people do. Just make your own research from now.

Those are good choices so if you're done stacking bitcoin and you think that you've got enough then proceed to your next choice of those altcoins. ETH is one of my top choices after bitcoin. So if you're trying to get as much as you can and balancing the portfolio you've got.
You should choose the best that you think that will fit your portfolio and you truly like because it is your money that you're investing and not the others to intervene with your decisions.

Well said, prioritise bitcoin. When you're fulfilled with the Staking of bitcoin go for altcoins. One contrary altcoins were the one to provide higher ROI than bitcoin, but it has got the risk higher than bitcoin investment. Whenever you make an investment it needs to be diversified, so it is possible to minimize the loss even when the market is on its worse.

blockman

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Quote from: TelolettOm on June 05, 2022, 06:43:54 PM

If you think it is enough to have BTC, you may diversify again your money into some altcoins with higher risks if you want. ETH and DOT are also my choices. But never follows what other people do. Just make your own research from now.

Those are good choices so if you're done stacking bitcoin and you think that you've got enough then proceed to your next choice of those altcoins. ETH is one of my top choices after bitcoin. So if you're trying to get as much as you can and balancing the portfolio you've got.
You should choose the best that you think that will fit your portfolio and you truly like because it is your money that you're investing and not the others to intervene with your decisions.

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Quote from: TelolettOm on June 05, 2022, 06:43:54 PM

Quote from: a298b112 on May 24, 2022, 09:25:30 AM

Now the question is, should I buy BTC (currently I don't have any BTC) or should I do DCA for ETH, SOL or DOT?

BTC is the first choice and the main asset to have for investment. The value is clear enough with that high market cap. Although nobody knows the future, Bitcoin has the biggest chance to rise up and create a new ATH in the future.

If you think it is enough to have BTC, you may diversify again your money into some altcoins with higher risks if you want. ETH and DOT are also my choices. But never follows what other people do. Just make your own research from now.

Make bitcoin as your main where you do accumulate as much as you could and also whenever it do declines its price then i would be mainly minding about DCA'ing bitcoin and whenever i do see some opportunity on

some altcoins then this is where i do make out some consideration on taking some altcoins for me to invest on but of course it would really be depending on your funds since this one requires capital.

Not all does have the capital to invest on thats why you should really be wise on making out decisions something like this whether it would result into positive or not.

TelolettOm

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Quote from: a298b112 on May 24, 2022, 09:25:30 AM

Now the question is, should I buy BTC (currently I don't have any BTC) or should I do DCA for ETH, SOL or DOT?

BTC is the first choice and the main asset to have for investment. The value is clear enough with that high market cap. Although nobody knows the future, Bitcoin has the biggest chance to rise up and create a new ATH in the future.

If you think it is enough to have BTC, you may diversify again your money into some altcoins with higher risks if you want. ETH and DOT are also my choices. But never follows what other people do. Just make your own research from now.

Yamifoud

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Quote from: naira on June 05, 2022, 12:38:39 PM

Quote from: Desscount on June 05, 2022, 11:55:17 AM

this is a bear market, of course you have to immediately choose an altcoin or you can wait for the price of Bitcoin to be safe to buy,
because the price of Bitcoin still feels shaken due to news of interest rates in the US, if you want to buy Bitcoin I think it's good at $20k to $25k

It's still not enough if you have to wait for a bear market that's not yet halfway through. Because when a bear market comes along with pretty drastic conditions, we will see Bitcoin at $25K as you said. but can Bitcoin be this deep? Of course nothing is impossible, seeing the increase in interest rates is still only a few percent of the impact. That hasn't fully provided a deep enough correction. At the end of the year, we usually see a deep correction, so if that happens then the buying moment will be very promising in the long term until we welcome the halving of 2024.

But fortunately, there are no backup claims that support the possible huge decline of the market driving Bitcoin price to fall to $25k. What just we see is that all are positive views and the correction that we have now isn't bad to look at and we keep holding the line at $28k. Now that people are too optimistic about the future and coming halving, the majority were taken to make a buy option rather than waiting and looking for the bottom price. In this situation, we can therefore say that instead of thinking it drops more, it is too possible to see for an early recovery.

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Quote from: Desscount on June 05, 2022, 11:55:17 AM

this is a bear market, of course you have to immediately choose an altcoin or you can wait for the price of Bitcoin to be safe to buy,
because the price of Bitcoin still feels shaken due to news of interest rates in the US, if you want to buy Bitcoin I think it's good at $20k to $25k

It's still not enough if you have to wait for a bear market that's not yet halfway through. Because when a bear market comes along with pretty drastic conditions, we will see Bitcoin at $25K as you said. but can Bitcoin be this deep? Of course nothing is impossible, seeing the increase in interest rates is still only a few percent of the impact. That hasn't fully provided a deep enough correction. At the end of the year, we usually see a deep correction, so if that happens then the buying moment will be very promising in the long term until we welcome the halving of 2024.

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Quote from: Mauser on June 05, 2022, 05:05:05 AM

Quote from: a298b112 on May 24, 2022, 09:25:30 AM

Since prices are down, I am going to spend some money for shopping. Not a lot, just what I can spend.
Now the question is, should I buy BTC (currently I don't have any BTC) or should I do DCA for ETH, SOL or DOT?

Since you already hold some other coins but no bitcoins yet, I would strongly recommend to buy some BTC. Right now the BTC price is cheap compared to last year. If you can buy BTC below 30,000 USD it's a good deal on my opinion. And BTC as the oldest crypto coin should be part of any crypto portfolio. I am assuming you are looking to build up a long term portfolio and not only want short term gains. For that BTC should definitely be part of your wallet. We don't know which Alt coin will be successful long term, but we know that bitcoins will still be around in the future, it's never a bad investment.

Not only bitcoin should be part of every portfolio it should also be its main investment, after all even with the bear market the bitcoin dominance is above 44% and if we did not considered all the shitcoins, centralized coins and POS coins then that dominance will be even higher, so with this in mind then it is important to take bitcoin seriously and make it an important part of your portfolio otherwise your long term results will be disappointing at best.

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this is a bear market, of course you have to immediately choose an altcoin or you can wait for the price of Bitcoin to be safe to buy,
because the price of Bitcoin still feels shaken due to news of interest rates in the US, if you want to buy Bitcoin I think it's good at $20k to $25k

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Quote from: a298b112 on May 24, 2022, 09:25:30 AM

Since prices are down, I am going to spend some money for shopping. Not a lot, just what I can spend.
Now the question is, should I buy BTC (currently I don't have any BTC) or should I do DCA for ETH, SOL or DOT?

Since you already hold some other coins but no bitcoins yet, I would strongly recommend to buy some BTC. Right now the BTC price is cheap compared to last year. If you can buy BTC below 30,000 USD it's a good deal on my opinion. And BTC as the oldest crypto coin should be part of any crypto portfolio. I am assuming you are looking to build up a long term portfolio and not only want short term gains. For that BTC should definitely be part of your wallet. We don't know which Alt coin will be successful long term, but we know that bitcoins will still be around in the future, it's never a bad investment.

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Quote from: DoublerHunter on June 04, 2022, 04:40:23 PM

Quote from: Wexnident on June 04, 2022, 12:53:44 PM

Quote from: KingsDen on June 04, 2022, 06:33:01 AM

A core bitcoiner will always tell you to buy bitcoin. And that is a nice advice. The great difference between bitcoin and some altcoins is, in 5years time, we are sure to see bitcoin here, but this cannot be said for many altcoins.

In the other hand, a lover of altcoins will give you some good coins you will buy which can do x2 to x5 for you and that cannot easily be said of bitcoin. So, it all boils down to what you want.

True. Most Bitcoiners look at investment opportunities in the long term, while altcoins are more of a short term instead since majority of them are built up on hype and they die off after a few months or maybe even weeks of release. Nothing odd about it though, that's just how most of them goes.

^ I rather apply the DCA way of buying BTC than altcoins.
For peace of mind, BTC is the right answer, you can invest it and wait for it for a long period of time purpose and if your profit was there of course it is easy for you to sell them all and invest back when there is a correction. Altcoins nowadays did not have a real utility, aside from those at the top of the coin market cap. We should avoid them, especially those meme coins that price increases through the hype. Remember that a high yield return coins are possible to turn out into scams.

If we don't look at the graphs then we can have peace of mind otherwise btc price movement is really upsetting these days but yes if you are not into trading and want to hold long term then you don't need to worry a lot and you will get profits in near future.While if you are into DCA then it could be beneficial even more as you can have more btc with you.But the altcoin market is mostly manipulated with fake pumps and once the market crash they are unable to recover so stay away from them.

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Quote from: a298b112 on May 24, 2022, 09:25:30 AM

Since prices are down, I am going to spend some money for shopping. Not a lot, just what I can spend.
Now the question is, should I buy BTC (currently I don't have any BTC) or should I do DCA for ETH, SOL or DOT?
Now the reason I am asking this question is I have some of ETH, SOL and DOT, and I still consider that my ETH and DOT average prices are little bit higher, so DCAing would be nice option. But then, given that the I am little concerned what might happen to SOL and DOT in this phase of the market. Anyway, thanks.

This question is a critical question at this time when the market is down and we don't know what will happen in the next minutes. For me, getting bitcoin will be a good idea especially now that the market is down so one can ride the price of Bitcoin to the top. Going for altcoins is also a good idea but it will be perfect if you but both Bitcoin and other cryptocurrencies that are doing well in the market will good chances of going far.

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Quote from: KingsDen on June 04, 2022, 06:33:01 AM

A core bitcoiner will always tell you to buy bitcoin. And that is a nice advice. The great difference between bitcoin and some altcoins is, in 5years time, we are sure to see bitcoin here, but this cannot be said for many altcoins.

In the other hand, a lover of altcoins will give you some good coins you will buy which can do x2 to x5 for you and that cannot easily be said of bitcoin. So, it all boils down to what you want.

Bitcoin has total conditions of delivering x2 of the investments made right now. We are near 30,000$ price range, while the ATH was almost 70,000$. It's likely bitcoin will surpass that ATH yet, so even on the humblest scenario (that is to repeat the same ATH), investors will double their investments. And being optimistic, x5, that is bitcoin reaching to 150,000$, seems possible as well.

The difference is that regards altcoins, the risks when investing on them are higher. But in percentage increasement potential, bitcoin is still a very strong one. Only greedy investors can't get satisfied with BTC returns, because they are looking for exorbitant returns (like 1000% and above) on short run.

Quote from: KingsDen on June 04, 2022, 06:33:01 AM

My advice is always to buy bitcoin if the money is not what you want to pay rent next month with.
Note that you can also DCA bitcoin, averaging is not only particular to altcoins.

That is a good advice and an interesting strategy to follow, although I'm not used to it, since I tend to do things in a single shot, instead of DCA.

Topic: Should I buy BTC or DCA other coins? (Read 645 times)