Topic: Using BTC only for Trading? - page 4. (Read 489 times)

Yogee

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Quote from: worldtraveller321 on June 30, 2021, 08:03:25 AM

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

The advantage of trading BTC only is the fact that it's less manipulated by pumps and dumps since it has the highest trading volume. I wouldn't say you'll become a more successful trader with BTC/stable coin pairs because that still depends on your ability or trading strategy. You'll probably do better in the long term than trading other coins or tokens that are more speculative.

Another thing you should consider is the flow of money in each market cycle. We have a so called altcoin season where most alts would bring higher yield than BTC.

worldtraveller321

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The Quest of the Best Information to the Solution

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

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