Topic: Trade only Bitcoin - page 5. (Read 1329 times)

The reason why it is important to learn more about the asset you are going to trade is so that your money doesn't float away.  Bitcoin is a very volatile asset, but the reputation and liquidity that Bitcoin has are very high compared to altcoins in general, but there are also several altcoins that are quite common. traded by people such as ethereum, bch and bnb, while the assets you should avoid for trading are meme tokens and tokens that are just based on hype ^{(such as DeFi and AI tokens)}, don't misplace your money in an asset when you trade, your money will be difficult to get back.

While it is true that Bitcoin is frequently a more trustworthy and secure trading option in the turbulent world of cryptocurrencies, trading Bitcoin exclusively may restrict your potential for profit, as the cryptocurrency market is packed with alternatives other than Bitcoin. Given Bitcoin's effect on broader market mood, traders must continually monitor its price. However, it is also critical to diversify and investigate other interesting cryptocurrencies with solid foundations and market potential. Instead of shunning altcoins entirely, including them into your trading strategy and keeping a close watch on Bitcoin's price might help you navigate this volatile area more successfully, grasping the varied investment opportunities it provides.

What is Bits? 
I don't think people will only trade with altcoins. Moreover, when they know that trading with Bitcoin will be safer. I'm sure most people trade both Bitcoin and altcoins, people don't want to miss the chance to gain profits from all the coins. But it is different when it is for a long term investment. There are people who only invest in Bitcoin because they only trust on Bitcoin for the long run.

The exchanges removed the altcoins because of many reasons. They may be scams, failed projects, rebranding coins/projects, or any other reasons. So, we can't conclude that the delisting because of scams or fraudulent cases only.

It is the fact. It is not only your perception. 

A person who trades in Altcoins also knows that Bits are the best for trading but they only trade in Altcoins with the hope of making some extra money. Altcoins are the most scams we notice. There are many exchanges that list Altcoins on their exchange only to have them removed from the exchange only because they may be fraudulent. I always think that if I don't have my money safe in the place where I trade hoping for a little more profit, then I won't do anything with a little profit. Protect your capital and then expect to make a profit. If the capital is secure, a trader will continue to make profits regularly even after a while, but if a trader loses his capital, what will he trade with? I think Bitcoin is one of the most reliable way to do business.

Why we only need to trade with Bitcoin? I think there is no problem to trade with altcoins, too.
If we get a loss in altcoin, it means there is something wrong with our strategy. Don't blame the altcoins! You may choose the wrong altcoins, that's why you get a loss. I suggest to make a better research when you choose altcoins to buy. Just prioritize top altcoins if you are afraid of pump-dump scheme!
In many cases, most people get a loss when they are trading with unpopular altcoins, especially new altcoins. It is because those altcoins are easy to skyrocket but they are easy to freefall as well. They just rely on the hype that only last in a very short time. People who don't understand the pump-dump scheme, will have a big chance to be trapped in those hype altcoins.

Bitcoin always allows us to trade more reliably in the cryptocurrency markets compared to other altcoins. Especially in today's conditions, it is a very important advantage for Bitcoin that it leads the cryptocurrency markets in general due to its dominance. Of course, when the situation is like this, it wouldn't be right to choose only Bitcoin in order to trade reliably. Traders trading in the cryptocurrency markets must always analyze the Bitcoin price up to date because price changes in the Bitcoin price generally determine the direction of the market. However, this doesn't mean that only Bitcoin trading should be done. Altcoins should also be preferred to evaluate price changes in cryptocurrencies belonging to many other successful projects but when performing this trade the Bitcoin price must also be analyzed.

In summary, there are never ending opportunities in the cryptocurrency markets. For this reason, it isn't a good idea to choose only Bitcoin to trade reliably as trading only Bitcoin will cause potential investment opportunities to be missed. The important detail here is to always analyze the Bitcoin price when trading altcoins to identify the potential effects it may have and to help trade efficiently. So, to make a reliable trade it isn't necessary to trade only Bitcoin but it is very important to always follow the Bitcoin price.

In trading, you need two coins. They are called as a pair. Now, how can we do trading if BTC is the only coin that we want? Maybe if we say investing it is more possible. BTC isn't the only crypto that survived a worst time. So we shouldn't be afraid on picking the others too. We should thank the altcoins because they help BTC to grow evenly. Sometimes, it's not about the coins but it's about the person who trade.

So as per everyone suggests, it's important to learn first: learn everything, starting from the cryptos and how trading works. Having a stable emotion is also important. I think this is something can't be learned in the books. So it's tricky despite being looking to simple.

For first try its really good for us to start trading on bitcoin since this can save us from heavy volatility and we can learn a lot from its movement. Since if we take shortcuts and go directly on those altcoins where we don't know if this is good for trading then possibly that we can lose our money instantly. Since there are so many altcoins only exist for a day or one week then turn scam and this could really badly bother the decisions of newbie to continue since maybe this wrong pick up can disappoint them and drop a decision to quit. So for small assurance that they will not get rug pulled by tokens they should focus on bitcoin for a while since this is also the best option especially if we are trying to make a short trades.

They should not rush their decision to trade altcoin and they should think about that when they are always bullish on trading bitcoin since that mean they are already skilled and well prepared to advance on more risky grounds.

Trading involves a lot of trading operations, when we will sell and buy Bitcoin, everything else is long-term investment. Sometimes I look at reviews of trading guys and it seems to me that they can really earn something from this, but I am also sure that trading is not for everyone, in any business there are those who can earn money from it and those for whom this activity will be difficult. Bitcoin can be traded like any other asset, but the point is not to trade Bitcoin or other coins, the point is to make money from it.

As a trader, wherever you're good at with these pairs, you can depend on those. Whether it's only for Bitcoin or any other coin or one coin, just keep what you've started. Some could have been good with USDT pairs and Bitcoin and some are the other type.

I do agree with what you've said. When we invest, we have to make it happen that if we're only focusing on some altcoins then you better diversify and choose to have Bitcoin as well. But remember that not every diversification is a must.

Nah, you can make better profits by just simply holding bitcoin. But since the topic is all about trading, that's the other way around if you have good experience in trading other altcoins.

Yeah true, volatility is basically the price going up or down, and in a sense leverage means that smaller ups an downs would be a lot better or worse for you, that is not volatility changing, that is basically enhancing it. So, a small 1% down would suddenly feel like 50% down for you and that matters, or a 2% increase would double your money. As you can see the volatility stays the same, instead of 2% increase means 2% profit, it means 100% profit and that movement matters a lot more to you. The risk taking feature of it means that you are going to risk all of it and that is the logic.

So if you do not have 100k but have 1k, that means when you bet on 100x you risk that 1k as well, if the investment starts at 100k and drops to 99k, then all your 1k is gone and the position is closed, but at the same time 1% increase would mean that its 101k now, and you can sell, and you just doubled your money easily. Sure if you agree to 1% meaning your entire money is gone or double your money whichever direction it goes, the nits a good idea to try it. However, I do not like that type of risk and know that crypto is way volatile to take that kind of risk and the results will not be all that good for me personally.

Traders need to begin their journeys by taking baby steps, it is true that a good trader can earn more money by trading altcoins as the volatility of those coins is greater than what you can find in bitcoin right now.

However if the volatility is higher then the opportunities to lose your money are also more plentiful, so traders need to first learn how to trade bitcoin and obtain long term profits with it, then they can move to altcoins like ethereum and BNB, and finally once they can obtain profits with those coins as well then they can try to trade other altcoins with a lower market cap.

There are alts out there OP that obeys structure, I have seen few and secondly Bitcoin doesn't go volatile just as most shit coins does, I don't know if you get what am saying though, I don't like trading Bitcoin because of its ROI is not volatile when it comes to movement, it might be best to buy and keep but when it comes to FUTURE TRADING I trade random coins that has clean P.A.

Well, if you trade altcoins then the picks are endless and even though you only choose the top coins one and then the feeling is somewhat different than trading with Bitcoin because you indeed know that trading using Bitcoin  for short term or even holding for long-term have a higher chance to get profit. Also every user has their own method to get money with altcoins and Bitcoin.

It is okay to only choose Bitcoin as your investment, no one is going to stop you. You could use the rest of your investment money to invest on different assets instead such as gold.

Investing in bitcoin is much safer than investing in altcoin but we don't know that investing in bitcoin will not give you much profit. But to get more profit we can buy some good altcoins including bnb and ethereum. Investing in altcoin has same risk.  Also more profit is available from altcoin. Sometimes we have to take risk, if we take risk, we get something good.

Trading is one of the most profitable business where you can earn good money if you adopt good strategy. And if you are going to grow money then definitely start trading but you must keep in mind that before starting trading you need to learn about trading. And when you get a good education about trading, you can risk entering the market by never entering the market before you do. Be sure to stay away from Altcoins when you are trading for profit, here if you trade there will definitely be risk and fear of losing money. If you trade in Bitcoin here you will not only get profit but also get safety of your money. And if you trade in altcoin then risk for your money and many times the coins turn into scam so you have fear of losing your money. So traders first get good experience about Bitcoin and learn to analyze the market before trading. If you want to trade then definitely start with Bitcoin it will give you security for long time and will give you huge profit.

I mean, it's not like we're increasing leverage to increase the volatility of bitcoin or tokens. He said that bitcoin has become more stable and it is becoming more difficult to profit from bitcoin. But if he increases the leverage, he will see that trading with bitcoin pairs can also make huge profits although the risks are also very high.

Yes, I'm talking about futures trading, I'm not talking about spot trading. For spot trading, we have thousands of pairs to choose from, I have not seen anyone focusing solely on bitcoin. In spot trading most people will use multiple pairs to offset each other to get better profits.

I don't think this is so,  Market structures are obeyed where necessary when it comes to technical analysis, basically when the terms and conditions of doing so are met, so you could rather say that the Altcoin market is more manipulative, volatile than the Bitcoin market in the sense that they are centralized and can be controlled by one entity,  whereas Bitcoin is decentralized and it is not controlled by any entity but by market forces, the supply and demand.

Both bitcoin and altcoins can give profit but if we compare bitcoin with altcoin then bitcoin is more successful than altcoins because disappearing concept is involved in altcoins but not in bitcoin. But in most of the cases you can do trading with altcoins but bitcoin will be suitable for investment more than trading.

If you don't have knowledge then trading with both altcoins and bitcoin will be risky for you and when you are expert trader then your will surely select certain trustworthy altcoins as well as bitcoin. Making concept about market and then using strategies according to market movement is the best solution to earn profit but if you go against market then you are doing a big mistakes which does not suited well in trading.

Bitcoin is always better than altcoin investment.  But trading should not depend on only one coin. Those who have good capital to invest should diversify their funds.  Although there are many good altcoins among altcoins such as BNB Ethereum.  The only way to increase your chances of making significant profits is to trade alternative coins that offer better altcoins.  But since Altcoins are very risky, you must be careful with your trades.