Using BTC only for Trading? | Bitcointalksearch.org

wxa7115

hero member

Activity: 2814

Merit: 734

Bitcoin is GOD

Quote from: romero121 on July 27, 2021, 03:20:21 PM

Bitcoin in its early days was marked as an asset for illegal activities. Slowly this got dragged as an asset for gambling. This way people had a negative opinion on bitcoin as an asset developed for gambling and illegal activities. Later trading practice began and the circulation contributed good to the further progress of the market. Now priority is for trading than as a currency. Maybe scenario could change in the future.

This is something that will eventually happen, a great deal of people are interested in earning money whether this is through trading or by holding their coins, and who can blame them when we see that bitcoin can grow so spectacularly in value in just a few months, so many people want the same to happen to them and they are not really using bitcoin is a currency but just as a way to make money.

However I really think that once bitcoin hits a certain level of adoption the amount of people that are going to want to trade it is going to diminish as they are going to think that bitcoin has reached something close to its maximum value and that is when we're going to see people using it as a currency.

Sir Legend

sr. member

Activity: 1792

Merit: 255

Quote from: romero121 on July 27, 2021, 03:20:21 PM

Bitcoin in its early days was marked as an asset for illegal activities. Slowly this got dragged as an asset for gambling. This way people had a negative opinion on bitcoin as an asset developed for gambling and illegal activities. Later trading practice began and the circulation contributed good to the further progress of the market. Now priority is for trading than as a currency. Maybe scenario could change in the future.

It must be admitted that the thinking of most people who hear bitcoin is for illegal activities such as terrorist fees, money laundering and many more. This is what makes bitcoin at that time like a roller coaster, the presence of a trading platform makes the need for bitcoin continues to increase so it looks stable than in the past.

romero121

legendary

Activity: 3234

Merit: 1214

Vave.com - Crypto Casino

Bitcoin in its early days was marked as an asset for illegal activities. Slowly this got dragged as an asset for gambling. This way people had a negative opinion on bitcoin as an asset developed for gambling and illegal activities. Later trading practice began and the circulation contributed good to the further progress of the market. Now priority is for trading than as a currency. Maybe scenario could change in the future.

wxa7115

hero member

Activity: 2814

Merit: 734

Bitcoin is GOD

Quote from: Distinctin on July 23, 2021, 06:43:43 PM

Quote from: Hippocrypto on July 18, 2021, 05:55:46 PM

That's our own personal prerogatives, whether standing btc all alone for trading can be our best choice to prosper with our asset. Before we can do it, lets have a strong foundation until such time it can establish the right momentum. Trading during bear market has a lot of challenges situation, particularly with volatile movement which I think difficult to handle when you don't have proper mindset.
Always study the behavior of the market, and never take the risk when you're not certain because it might put your money on danger of losing.

Well, we also have to think that trading is riskier than just invest and hold. Many had come and lost later because of making the wrong choice of coins in trading. But even we have chosen Bitcoin or altcoins, timing will also matter a lot and this could never be ignored as this was one reason for our failures. TA and FA are very important in this place, we can just set this aside as these were the tools to help us recognize what is a certain coin to trade.

We must remember that bitcoin is a currency and it can be used for whatever we want, if there are some people out there that want to use bitcoin as nothing more but a way to obtain profits when they trade then they are within their rights to do so.

But to me this is extremely shortsighted, bitcoin can do a lot more than that as bitcoin can be used to buy almost anything now and this tendency will only increase as governments begin to lose control over the economy due to all the money they have been printing recently due to the pandemic.

GeorgeJohn

hero member

Activity: 1498

Merit: 711

Enjoy 500% bonus + 70 FS

I have over had that cryptocurrency especially bitcoin that trading bitcoin only that the disadvantages is higher than the advantages via trading, but people are only emphasising on alternative coin trading, but in my views is equivalent to bitcoin trading, such altcoins are ethereum, litecoin, BNB, USDT, Doge's and other numerous coin to be mention, myself i prefer buying and selling or holding in such a way that even though it wil lead to this advantages part of cryptocurrency, which is degradation in price.

btc78

full member

Activity: 2520

Merit: 214

Eloncoin.org - Mars, here we come!

Quote from: worldtraveller321 on June 30, 2021, 07:03:25 AM

For all of you who do trading in Cryptocurrency.

I ask for those who just use Bitcoin for trades?
Do you think just focusing on Bitcoin to do trades back and forth using Stablecoins such as USDC etc a good focus?

If you are ready for what will happen then why not?

Example you are trading 10,000$ in bitcoin but suddenly the value drops badly and High , Are you willing to Sell at losses or can carry to Keep holding?

Quote

Your thoughts on this. Do you think one can be successful just day trading on BTC only vs the other coins/tokens? thanks

No it is not , Bitcoin cannot even Climb 10% in 1 day,most of the time so what more we can get from the fee Exchange will charge if we are daytrading? when the increase each day can only be 3%?

Xinarae*

sr. member

Activity: 1414

Merit: 326

It is up to the individual to decide where to trade there is a risk if you have little idea about trading in many new currency markets, there is no guarantee that they will rise that's why bitcoin is good for trading. There is no fear of losing this currency long term retention is very profitable I just love bitcoin and the whales in the market don't really last long.

Distinctin

hero member

Activity: 2926

Merit: 657

No dream is too big and no dreamer is too small

Quote from: Hippocrypto on July 18, 2021, 05:55:46 PM

That's our own personal prerogatives, whether standing btc all alone for trading can be our best choice to prosper with our asset. Before we can do it, lets have a strong foundation until such time it can establish the right momentum. Trading during bear market has a lot of challenges situation, particularly with volatile movement which I think difficult to handle when you don't have proper mindset.
Always study the behavior of the market, and never take the risk when you're not certain because it might put your money on danger of losing.

Well, we also have to think that trading is riskier than just invest and hold. Many had come and lost later because of making the wrong choice of coins in trading. But even we have chosen Bitcoin or altcoins, timing will also matter a lot and this could never be ignored as this was one reason for our failures. TA and FA are very important in this place, we can just set this aside as these were the tools to help us recognize what is a certain coin to trade.

BuNga_cute

full member

Activity: 1736

Merit: 116

Quote from: Fatunad on July 20, 2021, 04:45:50 PM

Quote from: BuNga_cute on July 20, 2021, 06:37:00 AM

Quote from: erep on July 18, 2021, 01:47:45 AM

Quote from: BuNga_cute on July 16, 2021, 11:13:28 PM

~

In conclusion, new projects are mostly used for pump and dump. Therefore, if we intend to trade on new projects, we must start trading when projects
are released on exchanges. And that's only for short term trading, because based on my experience if long term investment in new projects,
it is likely that the price will continue to fall and the volume will be very low. This is what makes it difficult for us to finally sell the coins.

These things are only a bit looking interesting or still plausible into those golden days of crypto which is on the year 2017 when everything is hyping up and those pumps and dumps are still
existing as of todays but it would really be not worth for your time and effort and of course with your money.Bitcoin isnt only used for trading but of course for long term hodling.
It is just on personal choice whether you do hold or actively trade and this is here profit do really differs on each person depending on their vies about bitcoin.
You wouldnt able to find out if you wont try.

I also feel what happened in 2017, where almost all coins experienced hype. So when it was very profitable short-term trading in some new projects.
But right now the number of new projects whose prices can go up very high is very few, so I agree for now it's not really worth trading in
new projects. It's better to focus on trading some coins that do have good potential, and Bitcoin is very suitable for trading. But interestingly
Bitcoin not only be used for trading, but Bitcoin is also good as a store of value. Which is very profitable holding Bitcoin in the long term,
if we really see the Bitcoin trend that continues to increase in price. Sometimes I also use Bitcoin to send money to my friends and family
who are overseas, because the process is fast and costs are cheaper than using fiat through a bank.

Fatunad

sr. member

Activity: 2226

Merit: 347

Quote from: BuNga_cute on July 20, 2021, 06:37:00 AM

Quote from: erep on July 18, 2021, 01:47:45 AM

Quote from: BuNga_cute on July 16, 2021, 11:13:28 PM

but the problem is that new projects are always manipulated by whales, so it is very risky to be able to generate profits from new projects. Because if the price goes down and we sell it too late, then it will be a very long time to wait for the price to recover. So I prefer trading on popular coins.

The trading volume of the new project increased dramatically at the beginning of the trading release, I think there was another party adding large liquidity for the purpose of multiple profits from the new project's assets, after the whale takes profit, the liquidity will decrease drastically and result in losses for long-term investors.

In conclusion, new projects are mostly used for pump and dump. Therefore, if we intend to trade on new projects, we must start trading when projects
are released on exchanges. And that's only for short term trading, because based on my experience if long term investment in new projects,
it is likely that the price will continue to fall and the volume will be very low. This is what makes it difficult for us to finally sell the coins.

These things are only a bit looking interesting or still plausible into those golden days of crypto which is on the year 2017 when everything is hyping up and those pumps and dumps are still
existing as of todays but it would really be not worth for your time and effort and of course with your money.Bitcoin isnt only used for trading but of course for long term hodling.
It is just on personal choice whether you do hold or actively trade and this is here profit do really differs on each person depending on their vies about bitcoin.
You wouldnt able to find out if you wont try.

BuNga_cute

full member

Activity: 1736

Merit: 116

Quote from: erep on July 18, 2021, 01:47:45 AM

Quote from: BuNga_cute on July 16, 2021, 11:13:28 PM

but the problem is that new projects are always manipulated by whales, so it is very risky to be able to generate profits from new projects. Because if the price goes down and we sell it too late, then it will be a very long time to wait for the price to recover. So I prefer trading on popular coins.

The trading volume of the new project increased dramatically at the beginning of the trading release, I think there was another party adding large liquidity for the purpose of multiple profits from the new project's assets, after the whale takes profit, the liquidity will decrease drastically and result in losses for long-term investors.

In conclusion, new projects are mostly used for pump and dump. Therefore, if we intend to trade on new projects, we must start trading when projects
are released on exchanges. And that's only for short term trading, because based on my experience if long term investment in new projects,
it is likely that the price will continue to fall and the volume will be very low. This is what makes it difficult for us to finally sell the coins.

Hippocrypto

sr. member

Activity: 1484

Merit: 277

That's our own personal prerogatives, whether standing btc all alone for trading can be our best choice to prosper with our asset. Before we can do it, lets have a strong foundation until such time it can establish the right momentum. Trading during bear market has a lot of challenges situation, particularly with volatile movement which I think difficult to handle when you don't have proper mindset.
Always study the behavior of the market, and never take the risk when you're not certain because it might put your money on danger of losing.

STT

legendary

Activity: 4102

Merit: 1454

Trading in and out of alt coins acts like a form of leverage and it best works when BTC is positive or recently has seen alot of monetary velocity. Otherwise the simplest thing is to stick to BTC for trading I think as you dont run as large a risk of gains being wiped out by the larger contraction in the crypto monetary base. For anything alternate to BTC to gain while BTC is losing ground is a hard task, that makes trading much harder also.

wxa7115

hero member

Activity: 2814

Merit: 734

Bitcoin is GOD

Quote from: Sled on July 13, 2021, 09:07:27 AM

BTC/USDT trading pair is what I commonly used when I started but for now, it is to realize that BTC is not profitable anymore unless if you are just collecting for the future.
If you are a short-term trading, new coins are something that could give you a decent reward. However, we need to be careful choosing them and we need to consider those factors that could help us to determine if that coin is legit or not. I use to sell them when it hypes and no longer to trade them back.

You need to be careful with new coins as it is true that you can make more profits with those coins but at the same time since their volume is so small then this means that a whale can manipulate the market as they want and it is going to be impossible for you to predict those kind of movements.

Another possibility is that a pump and dump group gets interested in the coin in which you are trading and as such this also could make the price to go against what you expect of the market and make you lose a lot of money in just a few minutes or hours.

lablab03

full member

Activity: 1064

Merit: 112

Quote from: worldtraveller321 on June 30, 2021, 07:03:25 AM

For all of you who do trading in Cryptocurrency.

I ask for those who just use Bitcoin for trades?
Do you think just focusing on Bitcoin to do trades back and forth using Stablecoins such as USDC etc a good focus?

For me yes its a good decision, especially if you see bitcoin is in a trend because surely you can make good return from it afterwards . And its very safe trading as well with stable coin, as the matter of fact most trader actually rely in it just to protect their profits from the volatility, unlike pairing with another coins because very skeptic. So if you want to trade then pair it with stable coin at least your money is in a safe place..

erep

hero member

Activity: 2282

Merit: 589

Quote from: BuNga_cute on July 16, 2021, 11:13:28 PM

but the problem is that new projects are always manipulated by whales, so it is very risky to be able to generate profits from new projects. Because if the price goes down and we sell it too late, then it will be a very long time to wait for the price to recover. So I prefer trading on popular coins.

The trading volume of the new project increased dramatically at the beginning of the trading release, I think there was another party adding large liquidity for the purpose of multiple profits from the new project's assets, after the whale takes profit, the liquidity will decrease drastically and result in losses for long-term investors.

traderethereum

hero member

Activity: 2870

Merit: 574

Vave.com - Crypto Casino

Quote from: Boov on July 14, 2021, 02:58:50 PM

Quote from: worldtraveller321 on June 30, 2021, 07:03:25 AM

For all of you who do trading in Cryptocurrency.

I ask for those who just use Bitcoin for trades?
Do you think just focusing on Bitcoin to do trades back and forth using Stablecoins such as USDC etc a good focus?

More less being a safe avenue in case you miss the sell off targets as markets change.

I am thinking yes we all know just holding BTC is always seen as something as value.

So if you put yourself in a Buy position and the sell position does not happen. Just being left holding that BTC is a safe position regardless.

Vs holding an unstable alt coin such as something like Shibu Inu or some of those other alt coins that could disappear or dump lots within a day or a few hours. Also have no value in long term to hold an alt coin?

Your thoughts on this. Do you think one can be successful just day trading on BTC only vs the other coins/tokens? thanks

I just don't think so, unless you're doing it with an alternative trading on other coins aside from btc. You can't rely all alone with bitcoin because we need to divert on other coins due to downfalls of btc. Many had the expectations that btc will rapidly increase double from current price, but the long waits has not yet to come.

It will have a chance to increase double from the current price but that will not happen rapidly because I guess we can see this situation for some time, maybe it can happen for more than 1-2 months later.
We can select what we want to use, whether bitcoin or altcoin, to trade because we need to find what coin can make us feel is not too hard to make a profit.
But we need to consider that trading will not be easy when the bear market comes like today and we need to find another way to make a profit.
I think it is our benefit to have so many coins besides bitcoin because that can help us to have a chance to make a profit when bitcoin price moves are not good. But yes, the altcoin will get the impact from the bitcoin price.

BuNga_cute

full member

Activity: 1736

Merit: 116

Quote from: Sled on July 13, 2021, 09:07:27 AM

Quote from: BuNga_cute on July 13, 2021, 08:36:12 AM

Quote from: Ararbermas on July 07, 2021, 11:35:38 PM

Stable coins is very reliable to use when it comes trading especially if you prefer to trade with bitcoin, because bitcoin is so volatile and you can't protect your money in it if you're using some alts to trade with it. and the fact that bitcoin has many whales within reason it's easy to manipulate so it always a good idea to pair it with stablecoins to assure your profits is secured no matter what happen in the market.

Indeed, using paired stable coins is far more effective for securing profits than trading using Bitcoin pairing. Due to the volatile Bitcoin price, trading
using Bitcoin pairs is less risky. Unless our goal is to trade to collect Bitcoin, then there is no problem trading using Bitcoin pairs. But with the current
bad market conditions it is not recommended to trade using Bitcoin pairs, but using pairing stable coins is much safer.

BTC/USDT trading pair is what I commonly used when I started but for now, it is to realize that BTC is not profitable anymore unless if you are just collecting for the future.
If you are a short-term trading, new coins are something that could give you a decent reward. However, we need to be careful choosing them and we need to consider those factors that could help us to determine if that coin is legit or not. I use to sell them when it hypes and no longer to trade them back.

For now, if we want to make a profit from Bitcoin, it is better long-term investment, because the movement of Bitcoin in the market is now too
stable to be able to generate large profits. If we want to make big profits, we can try short-term trading on new projects, but the problem is
that new projects are always manipulated by whales, so it is very risky to be able to generate profits from new projects. Because if the price goes
down and we sell it too late, then it will be a very long time to wait for the price to recover. So I prefer trading on popular coins.

Boov

sr. member

Activity: 868

Merit: 256

Quote from: worldtraveller321 on June 30, 2021, 07:03:25 AM

For all of you who do trading in Cryptocurrency.

I ask for those who just use Bitcoin for trades?
Do you think just focusing on Bitcoin to do trades back and forth using Stablecoins such as USDC etc a good focus?

More less being a safe avenue in case you miss the sell off targets as markets change.

I am thinking yes we all know just holding BTC is always seen as something as value.

So if you put yourself in a Buy position and the sell position does not happen. Just being left holding that BTC is a safe position regardless.

Vs holding an unstable alt coin such as something like Shibu Inu or some of those other alt coins that could disappear or dump lots within a day or a few hours. Also have no value in long term to hold an alt coin?

Your thoughts on this. Do you think one can be successful just day trading on BTC only vs the other coins/tokens? thanks

I just don't think so, unless you're doing it with an alternative trading on other coins aside from btc. You can't rely all alone with bitcoin because we need to divert on other coins due to downfalls of btc. Many had the expectations that btc will rapidly increase double from current price, but the long waits has not yet to come.

Questat

hero member

Activity: 2982

Merit: 610

Quote from: worldtraveller321 on June 30, 2021, 07:03:25 AM

Your thoughts on this. Do you think one can be successful just day trading on BTC only vs the other coins/tokens? thanks

yes of course, unless if you got emotionally stress when the market drastically dumps and do sell all your Bitcoin.
Bitcoin trading volume huge and has a high volatility rate where it is good for trading. If you can go along with the trend by simply do the buy at low and sell at high, you're certainly in profit.
We should also remember that it cannot be all the time the market is good, well, losing is not a thing to be afraid of as it was a part of our trading life.

Topic: Using BTC only for Trading? (Read 556 times)