Topic: Trade only Bitcoin - page 6. (Read 1344 times)

In terms of durability and strength, it is not wrong that there are many traders who want to choose Bitcoin as one of the assets they trade every day. Because Bitcoin is also suitable for investment as well as being suitable for trading, whereas altcoins that are still very young or new are cryptocurrencies that basically do not need to be traded more in the long term and are also not suitable for investing in the long term because there is a possibility that deleted by the exchange. Except only for old altcoins that are already in the top 20 cryptocurrencies, they can still be considered for trading by everyone.

This is part of the technical work that every trader must have, because without knowledge and expertise everyone will not be able to carry out any trades and will not know the best assets that can be traded for the long term. So this part is also very important to know because the basis of every job is sufficient knowledge and established skills.

Is pleasing to know that even those who trade alts use BTC to have a guideline to know when to trade. What I do mostly is predict price movement the use Sniper Range to short or long if I get it right, it's a double reward for me

Leverage doesn’t increase volatility of the token but rather the risk. Volatility is due to the price change of tokens while leverage just multiply your margin so that even small changes on the price will create huge impact on your trade. Technically, leverage increases only your trade size and not the volatility of the token.

Forex trading is a leverage trading which you should compared on futures/leverage trading  on crypto not on spot.

This is what makes those coin risky. In order to get successful you need to take risks in life but when you have other options in your hand, why take that route? Diversifying your investment into both crypto and physical assets is the best idea to make sure is day profitable even if one fails. And the thing about communities. People don't understand it correctly yet but once they face it they will know. The community includes the owner and the creator or other staff member involved into that project. What I am trying to establish here is, it is centralized and those people can control it. That's the main reason I don't like those coins.
Bitcoin on the other hand is known for it being decentralized. And to me, it was also the reason for Bitcoin becoming this successful. So instead of going through that high risk high reward thing, I tend to stay with Bitcoin while investing money into physical assets or businesses. This has proved to be an effective strategy.

You did not state the type of trading you engage in, whether it be spot or futures/Margin trading, for those two types of trading do have their different techniques and approach, for example, when it comes to trading the futures/Margin market, I surely will agree with you that trading bitcoin is safer, and give the trader a good and better opportunity of winning his or her trades, or most of it, trading altcoins in the futures/margin market is highly risky, as just as you have said, it does not respect the structure.

But when it comes to spot trading, I would say that both bitcoin and altcoin trading can go, as long as the trader will only engage in trading altcoins that are already well known and established, this is just in case the market goes against the trader, the trader can hold the altcoin until the market recovers and then sell it for pyrofit.

Gold is also very stable but have you ever tried trading with gold in the forex market? It is even more volatile than what altcoins offer. In trading, volatility will always occur and whether we want to make more or less profit depends on how we set the leverage, the higher the leverage, the higher the risk but the higher the profit will be. When it comes to holding, it is clear that bitcoin is always the top choice because of its safety but when it comes to trading, there is not much difference between bitcoin or altcoins.

In the crypto market, trading Bitcoin should be the only option because it is established as a currency and has survived the worst time. On the other hand, Altcoins are not a good option and are riskier to trade due to scams and the risk of whipping out from the market. Trade only the established Alts. In Altcoin trading, the chances of a loss are higher compared to Bitcoin.

Before trading, it is important to acquire a related skill set and expertise because it is very risky, and you might end up losing your money. Knowledge about the investment option is also a must. You must be emotionally strong if you are looking for trading. 

I agree and always say, holding is the best, the least risk, but that's not really trading. It's sort of anti-trading because trading looks to make high turnover, same bankroll recycled many times and compounded while holding is one big "buy at whatever price, sell very high".

Then you also consider what you put into the hold. Is it savings? Is it all savings? Is it DCA?

DCA the lowest risk, savings in Bitcoin to me is still high risk considering security. None of this is trading either.

Each coin has distinct characteristics, use cases, and communities that drive its value and impact its market behavior. So, while Bitcoin remains a great option, keeping an open mind about other coins may add an intriguing dimension to your trading adventure and maybe enhance your profits. And, as the crypto field evolves, it's critical to be aware and adapt to the shifting scene.

Everyone has a personal favorite coin to trade in which coins they prefer to trade. Just as you find Bitcoin to be the safest currency to trade, there are many traders who trade in some ALT coins. Trading in Bitcoin and trading ALT Coin with the same amount of money is slightly more profitable in ALT Coin than Bitcoin but investing in ALT Coin is somewhat risky.  I always prefer to invest in coins that have relatively low returns but keep my money safe so Bitcoin is my first choice. Bitcoin is one of the most secure digital currencies among all the coins in cryptocurrency, so if you invest or trade Bitcoin, the profit may be less but the money will be safe.

For short-term trading, using Bitcoin will be safer, because it has the largest market cap, minimizing manipulation. and of course we can carry out strategies using technical analysis well. On the other hand, if we trade short-term using new altcoins, of course dizzying movements will occur, considering how vulnerable they are to manipulation. especially if you use bitcoin for long-term trading, it will certainly be easier to do it

It's not about bitcoin or altcoin obeys the market structure you are talking but trading requires experience to somehow have a good result. Even long-time traders today are still losing therefore just try to keep up with the market volatility as possible as you can.

There are lots of altcoin traders who already made a good profit from altcoin trading. If they can, you can also have the same result.

In the meantime, since you do feel not comfortable with altcoin trading, it's good to stay away from it. Until such time that you are ready to take your trading career into an advanced stage, you can now do altcoin trading while doing bitcoin trading at the same time.

Like the business skills,the trading also requires the life time experience and skills to the trading.If you start to inverse in the bitcoin.So you no need to analysis the market regularly,just check the price flow of the bitcoin for two days once.The new trader can use the bitcoin for their investment,because the bitcoin was the risk free coin in the cryptocurrency market.The bitcoin will give us bth the security for the life time and profit with a specific period of time.The bitcoin was the mostly accepted coin in the gambling by many gambling sites.

For us to make good profits in trading, we need to trade different pairs because there are some pairs that can give us good profits in the market not just trading any pair that we see or like. Crypto trading has it own challenges and we need to be prepared for it or else we might not be getting results from what we do. There are different coins that are paired to Bitcoin and we have to choose from random projects we want to trades not majorly paired to Bitcoin but any good coin that will yield good profits for us especially coins that has good liquidity and moves well.

Bitcoin dominance might be half of the whole cryptocurrencies capitalization but the other half is just as important as bitcoin when it comes to trading. We know for a fact that bitcoin started it all, but altcoin makes the market more interesting, imagine if we cryptocurrencies are composed of just 5 crypto, there won't be any trading activity if that would happen, there will be just a faction where you need to choose which side of cryptocurrency are you in.

Trading altcoins is much interesting on my end, bitcoin is for holder, big whales who can accumulate bits and whole of bitcoin, not for traders like us. With the price of bitcoin, there are things may come unexpectedly, well if you got a luck then trading bitcoin might work for you.

This kind of behavior always comes from those who have not yet understood cryptocurrency in general. If not, why will someone think that the fact that Bitcoin is expensive is the reason why he will decide to invest in altcoins? I may easily conclude that your friend is a newbie; if not, why will someone never choose coins because of their expensiveness but not because of their market cap? Many people are seriously making this kind of mistake by investing in a very weak project just because they want to be holding many of those tokens, which I believe is a very stupid idea that will easily make someone end up in tears one day. Holding many tokens will never result in profits unless the project is great, but holding a small amount of bitcoin that will give someone a little profit is far better than holding many token that will make you even lose your capitals.

This is clear and undeniable. Because if Bitcoin is compared with altcoins in terms of quality, the difference is very big. Whether compared in terms of security, price stability, or in terms of trading volume, Bitcoin is still far superior. So it is natural that bitcoin trading can be said to be the safest. But even so, currently I personally don't just buy bitcoin for trading. However, I also have several altcoins that I have analyzed well and I believe will have quite good potential. So even though Bitcoin is indeed the safest crypto asset among other crypto assets. But I still dare to buy altcoins too. Because soon Bitcoin will enter a halving cycle and bullish market. Because usually when Bitcoin enters a halving cycle it will be followed by a bullish market. Usually many altcoins also experience price increases. Even though there is no definite basis for all of this, I am sure that the habits that occurred in the previous halving and bullish market cycles will be repeated in the next bitcoin halving and bullish market cycles.

However, I also do not carelessly choose altcoins for trading or hodling. However, only dare to buy altcoins that are ranked in the top 15 in terms of market capitalization and also the altcoin project must be really good. Because if you buy altcoins that are too careless and don't have a clear project, then the possibility of experiencing losses will be very large, even during the bitcoin halving and bull market. So in conclusion, bitcoin is indeed the safest crypto asset to trade. However, altcoin trading also sometimes has the opportunity for quite large profits, but with the condition that all aspects must be analyzed carefully first.

OP Not all altcoins are the same as you think; there are still cryptocurrencies that are good for daily trade activity, not just Bitcoin. So don't generalize. Because if that's what we always say, it's like you're saying that altcoin is no longer needed in this industry.

Remember that without altcoins, the popularity of Bitcoin will not increase, so if you say that there is a risk, Bitcoin also has a risk. Just like Ethereum, when it started, the price in the market was low, but as time went on, it also increased, like Bitcoin, so that means there are other altcoins that can give us profit, and they are also proven and tested, like Bitcoin.

Bitcoin is better than all the other coins available in the market, but recently the volatile nature of Bitcoin is decreasing. So trading Bitcoin has become harder for people who trade for short-term. In the future the volatility will become less and less and the only way to earn profit from Bitcoin will be by Hodling.
Alt coins does not always follow the market structure. But who has been in this alt market for a long time, they can easily predict what's coming. But that's not 100% accurate. That's just how the market works. If a person makes a loss the other person will make a profit. Alt coins market moves based on trend and hype all the sentiment attached to Bitcoin market. So if one can analyze the market based on that then they can obviously make profit from alt market.
If you were holding for a long-term then Bitcoin is the best choice no doubt. But if you are trading, you need to find different assets that you can trade on. Bitcoin is becoming less and less effective for trading and one day the market will become stable for sure. So it is good practice to learn how to trade other coins so that you can be prepared for the future.

I would say that when it stays around the same price and has just small amount of movements it's really hard to do spot trading so people moved to do leverage trading during that time. Going just 100 dollars up may not make you a lot of money, but going up that much on a 100x leverage could definitely make you a good income. This of course increases the risk and people shouldn't take that.

Long story short I believe that we are going to end up with a lot of people who are going to take less risk, because we are going to be more volatile soon, and holding bitcoin could be the best thing to do. If we believe that halving will make it go up, then we should trust it to do well enough to keep it going and should be happy about it.