Should I swap my BTC to altcoins and hold for better benefits? - page 3.

doomloop

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Quote from: bitgolden on May 13, 2021, 09:36:14 AM

Quote from: hotpassion on May 11, 2021, 09:27:13 PM

I'm still struggling to make my decision to sell my BTC for altcoins (I prefer ETH, ADA, SOL, ETC).
Do you think I should do that?

NEVER ever go for that. You may become disappointed at any time.
The best practice must be risking only 5% to 10% of your portfolio in altcoins is always recommended.

What we are having right now due to dogecoin/etehreum is not a sustaining one. Moreover these may happen once in 5 or 10 years, you cannot dream about that on cyclic manner how people are enjoying assured profits with bitcoins on every four years. By the way, I never heard about SOL so far, what is that?

ETH might be trading around its ATH of life time right now, investing with that may become a life's biggest mistake as well. Same the case for Ada. ETC may become dead at any time.

I agree with the notion of bitcoin as the biggest portfolio piece, I just do not agree with the 5-10% part (depending on the coin of course). Right now 90% of my portfolio is btc-eth-bnb and has been like that for months, I am very happy with it, I made a great deal of profit that way, while others made even more I was quite happy with what I have.

But I did purchased eth and bnb, those are altcoins so I could say that I do not have 10% in altcoins, I do have 10% in other coins aside from these three, that is the true part and I agree with that but the fact is that I still managed to make a good amount of income from the biggest three coins in the crypto market. That is why I agree that you should not swim outside of shore too much, but you can keep it at the top levels if you want to, which I did, I have like 40-50% of my money in bitcoin as well, just not 90%.

SaShiRaJaVu

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Quote from: tyz on May 13, 2021, 11:56:54 AM

If you take a closer look at the Bitcoin chart, you can see that Bitcoin has always had longer sideways movements in its history. Especially after a strong price increase. It's the same this time.
Of course, you can now switch to altcoins now, but the separation between good and bad altcoins is just beginning, so you have to choose the right altcoin to really take a profit. Bitcoin will make its next push sooner or later, probably towards 100k. That's why most Bitcoin investors have always been right to sit out such phases and not trade in other coins.

There was a time when we used to switch over from Bitcoin to other altcoins after the rally subsides but this time around the entire market rallied and some of the altcoins reached levels which i never thought was possible in a short period and even the meme coins rallied baffling everyone and hence there is no point in switching to another alt and the general expectation is that we will see one more rally in Bitcoin before the major correction just like you mentioned but i am not sure whether we will reach your target but still expect one last rally before the correction.

dexter141

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It is better to have a small plus on bitcoins, which I am 100% sure than to play with fire on altcoins, where you can lose everything. I keep my money 85% in bitcoins, and the other 15% I trade Eth and transfer all my profits to bitcoins. Bitcoin is the king of cryptocurrency. But the choice is yours ....

tyz

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Quote from: hotpassion on May 11, 2021, 09:27:13 PM

We all see that the BTC price is sideway from 50k to 58k for few months now and it seem can't break up the 60k barrier.

One can see in your post that you have not been in the crypto business that long. If you take a closer look at the Bitcoin chart, you can see that Bitcoin has always had longer sideways movements in its history. Especially after a strong price increase. It's the same this time.
Of course, you can now switch to altcoins now, but the separation between good and bad altcoins is just beginning, so you have to choose the right altcoin to really take a profit. Bitcoin will make its next push sooner or later, probably towards 100k. That's why most Bitcoin investors have always been right to sit out such phases and not trade in other coins.

dificanovi

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I think it's better to hold bitcoins for a long time, but if we have a lot of bitcoins there is nothing wrong with converting some bitcoins into Altcoins because we don't lose all the bitcoins we have.
My principle is not to leave Bitcoin because the price of bitcoin will continue to rise from year to year. I really believe that the price of bitcoin will continue to rise because there are more and more bitcoin users and the supply of bitcoin is only 21 million spread all over the world.

bitgolden

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Quote from: hotpassion on May 11, 2021, 09:27:13 PM

I'm still struggling to make my decision to sell my BTC for altcoins (I prefer ETH, ADA, SOL, ETC).
Do you think I should do that?

NEVER ever go for that. You may become disappointed at any time.
The best practice must be risking only 5% to 10% of your portfolio in altcoins is always recommended.

What we are having right now due to dogecoin/etehreum is not a sustaining one. Moreover these may happen once in 5 or 10 years, you cannot dream about that on cyclic manner how people are enjoying assured profits with bitcoins on every four years. By the way, I never heard about SOL so far, what is that?

ETH might be trading around its ATH of life time right now, investing with that may become a life's biggest mistake as well. Same the case for Ada. ETC may become dead at any time.

senyorito123

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Quote from: ancafe on May 13, 2021, 01:27:07 AM

actually, it depends on circumstances. if it had continued in bitcoin, I would probably hold on to it, and maybe my next investment would be in the popular altcoin. however, if you feel that the holding potential of altcoins is better, I recommend choosing a top-tier altcoin like ethereum and BNB, and don't divide it into too many altcoins.

Both sides is good most especially we can see both btc and Altcoins are good coins. It shows already proof why they exist and remain known in cryptocurrency market. Talking about Altcoins, there are many coins you can choose which surely good for investment. It just need patience, knowledge and trust for you to be successful. In the end both decision is good as long you are confident enough and you know the movement.

HyunBin

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Seeing bitcoin price goes sideways is for me an indicator to sell it and shift into altcoins because if you know every bull market cycle once that bitcoin goes sideways its a sign of the altcoin season and we have seen how altcoins show promising pump even shitcoins.

fielkun

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Hey, Stakenet XSN is one altcoin worthy of an investment I must say.

- Undervalued but has high potential to rise with the upcoming launch of their beta Stakenet DEX.
- A project with real utility.
- Not a buy-product of hype or meme.
- Continuous development since 2018.
- Built by a wonderful team of professionals.
- Active discord/twitter community.

Please check it out.

azhariejaya

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In my opinion, keep your BTC. Suppose you want to buy altcoins that give you a big profit, either x10 x100 or more. In that case, you don't need much money because I have seen that most altcoins whose prices have gone up drastically are shitcoins that have a lot of total supply. Still, the altcoins you mentioned, I don't think it can give you significant returns in a short time unless you hold on to the long term.

ancafe

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actually, it depends on circumstances. if it had continued in bitcoin, I would probably hold on to it, and maybe my next investment would be in the popular altcoin. however, if you feel that the holding potential of altcoins is better, I recommend choosing a top-tier altcoin like ethereum and BNB, and don't divide it into too many altcoins.

isaac_clarke22

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Quote from: hotpassion on May 11, 2021, 09:27:13 PM

~

So you're easily driven by what others just said to you? You know that Bitcoin is for the longer-term right. Getting stuck around a certain price range is just quite normal for all of us in Bitcoin.
Do you even remember back in 2018 when Bitcoin was like stabilizing around 7k before it crashed to 4k, but prepared to launch itself back and now we're in here?
How's that for the story in the past, OP? Wink

Do you think you'll still swap?

MUG1WARA

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It's your bitcoin your rules you can do whatever you want with it, if you think bitcoin isn't making any head way as before, then you can dump it for another coin, although if u had those Bitcoins I wouldn't think of selling them for all this animal / meme coins around, cause those coins are very risky, there's no real product and at any point in time their value can go back to zero but bitcoin price cant drop to zero, so choose wisely.

wayaneka

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Currently Bitcoin dominance dropped from above 50% to 40%, so that mean alot of investor and trader moved their BTC to altcoin that make price of altcoin going to new high. So in my opinion altcoin season just starting, and move from BTC to altcoin is good decision now, but becarefull to choose altcoin because the risk can be more than BTC. From altcoin that your mention, I think SOL is one of the best one, because this smart contract platform solved high transaction fee and possible to handle 50,000 transaction per second. And will be good decision if keep holding 50% of BTC and other remaining 50% swap to altcoin.

onecall123

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My friends circle and I'm also extremely keen on buying some Ether. The problem is we can't neglect the power of BTC which takes way to much time to up, at that point convert to eth would be best idea to accumulate large amounts. Ether likely to reach $5k, so easy shot. My biggest concern is safety, then taking profits.

Kasabus

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Quote from: Ararbermas on May 12, 2021, 10:48:51 PM

If you're already invested in bitcoin then i suggest you to keep hodling mate.. Rather than choosing again some altcoin that can help you to improve your profits and especially to skip the situation what you have right now.. For me its a bad idea actually because mostly alts are not that good like bitcoin .. Yes you can solve your current situation right now if you swap your btc in some promising alts but did you know how long it will last? Is it like bitcoin than has a strong support wherein in every fluctuation it always bouncing and the potential is too high to make an ATH soon? I think no since alts nowadays are good only for short term unlike bitcoin, even you hold it for how many years you still can make good return after all, what i mean even you have a worst situation right know you still have a chance to win no matter what happen afterwards. Unlike alts wherein not trustworthy when it comes hodling.

Your investment will only depend in your own preference. Don't worry if you get lose from your own choice because that will also leave you good lessons.

I would not suggest to swap your bitcoin into altcoins or just focus on bitcoin alone because we have different perspective on how to become profitable. Just DYOR with due diligence and i know you will never get wrong from your own point of view.

Sled

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I'm not going to believe that altcoins will be much more profitable than Bitcoin in the future that gives us the reason that we have to sacrifice our BTC for them. Holding altcoins instead of having Bitcoin is not really a good idea, we just like taking the consequences of losing near.

before you do that, think about which one will gives you as better future, think about which one is sustainable, and which one could give you a higher profit assurance. We are talking about long-term investment, altcoins just in higher profit this time because of the hypes but what will happen if this will be over?

cryptoaddictchie

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Quote from: Mahdirakib on May 12, 2021, 06:22:19 PM

I think we shouldn't expect more and more from those alts. Bitcoin price may increase quickly in upcoming days. It would be better to invest fresh money in altcoins rather than swapping bitcoin into alts.

Im not saying that on those altcoins but you can also venture to those new projects that are going to come out like casper, clover, dfinity, truebit, flare, symbol and new major altcoins that will enter the market. I think these new projects have chance to do a good run this 2021. Just my opinion, you can do your due diligence.

Ararbermas

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If you're already invested in bitcoin then i suggest you to keep hodling mate.. Rather than choosing again some altcoin that can help you to improve your profits and especially to skip the situation what you have right now.. For me its a bad idea actually because mostly alts are not that good like bitcoin .. Yes you can solve your current situation right now if you swap your btc in some promising alts but did you know how long it will last? Is it like bitcoin than has a strong support wherein in every fluctuation it always bouncing and the potential is too high to make an ATH soon? I think no since alts nowadays are good only for short term unlike bitcoin, even you hold it for how many years you still can make good return after all, what i mean even you have a worst situation right know you still have a chance to win no matter what happen afterwards. Unlike alts wherein not trustworthy when it comes hodling.

MoneyJ

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This is just an insight of mine. Normally what goes up must come down. BTC has limited usecase in the real world so I want now to hedge over stable coin like DAI or Tether. To feel more secure. Just a financial thoughts of mine .

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