Topic: Switch BTC to altcoin or take profit by selling? - page 2. (Read 712 times)

I have a kraken account but I've never traded on it.

I like you strategy for selling the 50% over 5weeks. I've always believed in selling 50% to re-invest in AltCoins and holding 50%.

Now I'm gong to add the 5*10% sales method, so far the fees are reasonable.

Thanks for sharing this strategy.

And if you are thinking of selling to FIAT, check Bitstamp.. for me personal the best one for selling and withdrawing fiat.

Regards,
Aljaz

Whatever you do, just don't send anything to Kraken. It's a horrible place and not working well for one single day. Can't understand why anyone would still use it compared to all exchanges which are actually working.

There will be a pullback one day but I think it's pointless trying to guess the timing, since you'd be wrong like everyone else is wrong all the time. Just in November many analysts sold waiting for a pull back at 8000, then closing 9000, then at 9500, now at 10.000. Maybe the pullback comes from 15.000 to 10.000, who knows. Secondly, if Bitcoin would crash hard altcoins would go down with it. If you sell BTC now to buy ETH or Dash or whatever, you are selling high but also buying altcoins high.

If you want to buy altcoins today could be a great day compared to Tuesday next week... or really bad. I don't think there's any real way of knowing that.

If you want to sell 50% of your BTC why not for example sell 10% once a week for the next five weeks. Then you would average out the price movements. Each week put it to the alt which hasn't made so big gains. I sold some of my BTC for NEO, which hasn't moved at all now. Also bought IOTA few days ago, but I wouldn't make that trade now when the price has moved up 30%.

I like Exodus too btw, great wallet 

You have a good plan already. Don't sell all out. Just follow your plan and select good coins.

If u believe there is a drop coming going to strong alts is a good play.

You can trading bitcoin to altcoin! and sell it at best price
Hold somes coin: LTC, DASH, ETH and BCC coin

Hodl BTC. If I have not traded BTC for alt coins, my value would have been so much higher.

I simply suggest HODL Bitcoin! It will likely go $15K.

It's very risky at this time, to buy altcoins is only not risky when we're in a calm market. The market is very volatile and the price fluctuation is high, shiftings are not recommended.

Thanks for all the replies guys!

Just tried to log in on Kraken and it already took me 10 minutes due to server errors, so sending and selling via Kraken is definitely not an option for me. 

@ BitcoinHodler thank you for the info on the alts. I always thought the big cap alts more or less remain stable but just looked at the charts and they indeed do more than I would like to risk.

So I guess holding for now and sit out the correction

for me the choice is obvious. if i really speculate a drop (which i don't at the moment, just for the record) then i sell to fiat and wait for the dip to end in order to buy back at the bottom.

if you are expecting a tiny drop like 5-10% then what you say makes sense. otherwise a bigger drop lasts longer and it only becomes hard to sell when everyone else starts panic selling. and if you do really expect a drop then you should act on it faster and before others do.

this is a good option only if you think these altcoins will go up equal or greater than the amount you expect bitcoin to drop.
if bitcoin drops 30% and these alts drop with it (like they always do) you lose more money!
if they rise but not rise equal to 30% drop of bitcoin, you again lose money

for example recently (last drop) when bitcoin went from $7800 to $5500 (-29% drop) ETH went from $330 to $295 (-10% drop) and LTC from $66 to $57 (-13% drop)
dash was the only one which went up but that was because it was already being pumped, other times it follows down like others!

I have same feelings about fixing profit now. I suppose everybody around thinks when the correction begins and hold their hands under the red button)) I'd like to go to Tether USD for some period of time as of now.

I just think about another option just like try to send your bitcoin directly to the centralized exchange site. Remember every exchange site has different demand and that makes the possibility about the different prices between each exchange site. Try to swtich via exodus seems not to be a very good choice.

for now wait bitcoin prices up to 10k $ and sell 50% then the rest you buy altcoin

BTC will have correction soon. So my suggestion for you is to spread 2/3 of BTC in altcoins with upcoming events(check for new release/burn of coins)..

Check this..

http://coinmarketcal.com/?form%5Bmonth%5D=&form%5Byear%5D=&form%5Bcoin%5D=&form%5Bsort_by%5D=hot_events&form%5Bsubmit%5D=

But buying altcoins means like 5% of total for each one.. And sell altcoins right before events also with 10% profit

Other option is for you to buy top10 alts, because they are not so volatile as others and hold for long term. Its on you how much time you have.


Regards,
Aljaz

You can always allocate some for ALTcoins but never go all in in a specific ALT, based on my own experience I earn more when I transfer bitcoin to tether at high then buy at low. Also, I have some investments to some alts but most of my funds are in bitcoin.

but if my suggestion is better if at this time you have 1-0.5 btc better you hold it because i see btc will go up to $ 1,000,000 but in 2020.

BTC is always profit making asset. So it is not advisable to sell your all BTC.  However you may buy some Altcoin also. 

ah not as easy as you say, better hodling your bitcoin or go arbit at several market.

Before the btc starts to dip convert it to USD then after the btc dips convert your usd to btc again the outcome more btc.