Topic: Using Tether to increase your Bitcoin Position (Read 120 times)

IMO bear market is close, but not imminent.
I think we're expecting one more BIG push up before bears take over. And then yes, sell at some predefined position, for example, BTC at 70k, and wait.
If it dips, buy more, if not, you got 70k profit out of it. WIN WIN imo

Dude short term trading & hoping to increase your bitcoin position is a fools game. You’ve done the right thing by long term hodling & dca. Take profits off the table at some point when the time is right for you, no problem. I advise against constantly converting bitcoin to usdt & vice versa though. Sure you might get lucky a couple of times but most normies can’t time the market & end up with egg on their face.

We fell from 64,000 but so what, we are still in a bull run. You hodled from 2018, another 6 months & you will make even more money.

I see you are confused and getting that FOMO feeling right now. Im also suffering the same trauma right now but I have decided one solution on this and thats diversification. This is way better strategy than loosing your money completely. In this one you should keep diverting your BTC to another stablecoin like in your case USDT but not fully. You only put the portion which is your profit in the form of USDT. I mean if you have entered the BTC market when the prices were 17K then any profit above that should be shifted to the USDT. If BTC starts pumping again then you will not miss the train and still earn profits on that remaining amount.

Think about this strategy based on how much BTC you have invested and what entry point you have.

all suggestions will be good in time, it depends on you because the decision in your hand is as good as any advice if you are not careful or rash then regrets that end up appearing either there is a little benefit or a lot of profit, because there is no sense of satisfaction

This is the right time to take a position in Bitcoin and wait until the year ends. Bitcoin is presently available at a discount price, you can use your tether to buy it on Binance. In just a few weeks it has lost near about 20k and has been holding strong at 30K level. If you want your holding to increase invest in Bitcoin as soon as possible. Also, it has been advised quite a lot of time to keep your assets in your personal wallet and not on an exchange wallet.   

Holding your cryptocurrency on exchanges, forever, is bad. Binance is a big one and possibly have good security protection but you need to keep your capital safe.

If you want to use your Tether USD to buy Bitcoin on Binance, transfer the amount you want to use for your trades to Binance. Finish your trades, and if you don't want to trade your bought Bitcoin, transfer (withdraw) your Bitcoin from Binance to your Bitcoin wallet (Bitcoin Core, Electrum or Wasabi wallet).

Lastly, I don't believe it is good if you transfer all your Tether USD to Binance in one transaction. If you make mistakes, you lose your money. You can save your deposit address but don't believe in any automated tool for your safety.

PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets

Big dumped just happened a few week's ago, and currently BTC stay strong in the level support above 30k. I think now is good times to buy BTC, because the price can be sideway more for another a few week and then rebound. In this month, can be phase for accumulate and after that BTC will bounce back. I predict, the bull run season is not over yet, and current situation of market is just correction and accumulation for next rally.

The drops could be over imo. I expected a drop by half in the current bull run for quite a while as it always happens and orally happens with other assets too when they go on a bit of a run. Things move back to allow indicators to be more balanced.

Investing when everyone is claiming there's a drop is a bit problematic. If this guy with a short call didn't open it around 50k with 1x Lev, he might be wrong again?

If you're desperate for a sell, I'd suggest putting all your btc on an exchange and having stops at $29k. If we get just below the last low, we might go a bit further but I'm not sure how much lower we could go then. (if we break 29k then $25k COULD happen). If we don't break 29k then 25 obviously won't.

Have you thought this through, is it goi g to be too stressful to keep track of and are you likely to gamble what if you put a buy in at 17k and it drops to 16k you sell? You just leave it?. You quit?

If you're printe to gambling or stress of checking the price then don't bother doing this. You seem to have a reason to not be a day trader, otherwise you'd already be one.

Hey guys,

Recently I've been doing a lot of thinking about utilizing Tether, I HODL from 2018 at the end of the last bear market. I've held and held and held, and now I've even bought more. But since the first crash from 64 i'm regretting not having the foresight to have already done this correctly and doubling my position once already!

One of my good friends things we are on the cusp of a serious bear market and has a few short position calls thinking it can go as low as 17k. As much as I hate to say this I think that we may be entering bearish territory, really hope i'm wrong tho.

So now then why not transfer everything back over to Binance, transfer to Tether, hold in Tether, wait for BTC to dip and buy back in and increase the position. Wow, thats so easy to say isn't it?

Even thinking about doing this scares the absolute crap out of me. Moving all my coins over to the exchange and converting it, there's no way I'd keep it on the exchange I'd move it right back. Ledger can hold Tether apparently, which is the wallet I use. But I need to research that process a bit more. From my understanding you just send the Tether to the Ethereum wallet on Ledger since it is ERC-20?

Just thinking about possible things that could go wrong here: What if BTC jumps way up? I miss out on huge gains and have LESS Bitcoin. How tf can you even time this crap? I wish we had a crystal ball lol. I just want to have more. I need more. My family needs more. Huge risk + huge rewards right?

These are just all of my thoughts, I needed to type them out and process this. Need to find out how much higher BTC can go, and look for signs of what can affect this in the short term. I'm no day trader, i'm no expert, just a guy trying to leave a legacy for my family!

Any suggestions, advice, know how, input, anything helps! What are all your thoughts on this? I'm sure tons of people utilize Tether like this, does anyone think they have a good pulse on the market and have any ideas of when the next big drop could be?