Topic: Will you trade Bitcoin to buy Altcoins? - page 27. (Read 4188 times)

Thank you for this brief explanation of your strategy. I was thinking about investing in several altcoins in order to make some small, short-term profit. Glad to see that others think the same. I recently sold a bit of BTC and bought EOS. Hope it is a good investment.

You are thinking of diversifying your portfolio. So you have to sell some Bitcoin to buy Altcoin. As of your strategy holds more Altcoin than Bitcoin. Bitcoin prices are currently still the highest in the market and you believe that you will have more profits in the future if you will invest your money in Altcoin quality so every time you have Bitcoin.

What market conditions do you mean? we know that most altcoin markets are also affected by bitcoin markets right?
I myself also do altcoin trading, but that does not mean all my assets are on altcoin, I also keep backups of funds in bitcoin and fiat,.

I would be preferable to keep on touch on my bitcoin thatn trading it and convert it into altcoin. Though yes, all kinds of cryptocurrencies has it's own value and prices but I'd stilk believe to high possibility of bitcoin that it could recover from it's downfall maybe not now but hopefully by next month. After all what happened I always set a positive outlook in my mind

Of course yes from bitcoin to other coins or altcoin is kind of risky trading you should be sure what coin has a possibility to increase when you trade. Because we have many crypto coin right now. Be wise and sure to choose.

I keep more than half of my cryptocurrency stash in Bitcoin, but I invest the rest of my coins into alts for the medium and short term because of the aforementioned risk in altcoins as everyone else has already said. I'm okay with losing what I invest, and though I'm actually up quite a bit in my trades (I do only a few each week), I don't put all my eggs in one basket and always try to spread out the funds I have allocated for investment. I'd sleep easy at night even if I lost everything in alts and I don't make a thousand trades and get stressed about it- that's my main goal with alts, to potentially make some profit but don't worry too much if it goes in the red- if that happens, I just go see how much money I have to play with and potentially put some more in to buy the dip.

I agree, if the market provides an additional opportunity to earn, this chance should be used. But it is necessary to carefully evaluate the risks.

While I do agree with your reasoning, I find it funny because it conflicts a little bit with your support to a very unknown altcoin in in the signature.
Ah,
I I know the feeeling because I openly plead guilty in trying to get merit (I need 10!) to do the exact same thing with another alt!

F1

Yes it has to be done when we want to have altcoin. That is the thing we have to do because without doing so we will not get anything.

I usually benefit from trading Bitcoin and the results I use to buy altcoin, it is a strategy and I am very happy when I can appropriately apply the strategy.

Why not? if you think that altcoin can give you much more profit than bitcoin then there is nothing wrong with that, selling or trade your bitcoin is your decision because that is your coin. If you think that there is a good altcoin then that is good for you. You seeing the crypto world a positive side even if the market is red all over.

It seem always better to hold more bitcoin s or tether when the market is struggling (as it currently is). A mere 10 percent drop on the price of bitcoin  will  often lead to  up-to 15-20 percent drop in the value of most altcoins

Day trading is good for short term gains. The problem with it is that there are no assurances (as you may have suggested ),prices can easily rise just as it can also easily plunge. It is a game of wits, only the stronger hands survive

If the market situation changes I will change my trading campaign. I will sell the bitcoin away and buy but altcoin depending on market conditions but now my trading plan will remain the same.

Order to be a good trader, you have to have a flexible thinking. Let's follow the market to have a good news. besides, you also need a good knowledge to transfer BTC to altcoin and vice versa.

Well I thank all for the suggestions. But yes, I would not keep the Altcoins for a long term investment. That is why I said that we can make use of the fluctuations / volatility of the Altcoin market. I do observe the market trends as a day trader. The thing is that buying Altcoins by selling BTC takes us to a different psychology.

I honestly feel that with correct trade we may even get back the BTC that we had initially sold. The risk is indeed visible but there is an enormous possibility of success.

I did do this with fiat currency. In fact I bought few Altcoins and regained all of my initial investment. I am now playing around with ‘free coins’ you see! When I can make this possible with fiat currency then I can certainly make it by selling BTC. In fact as I mentioned above, I can regain my BTC back over a period of consistent sharp trades. Certainly this is not impossible especially after having tasted success with in this way.

The question that however pops up is that 'is this the time to sell BTC'?

Certainly this is not the time to sell. When the market is down, selling BTC is enormous risk. This is a time to make a relatively long term investment in BTC. But when market starts getting bullish I am pretty sure that this will work out. The point is this. In every Altcoin that you invest you must make sure that you regain your initial investment. And after that you may start playing with your free coins by taking greater risks. I feel more or less this is what day trading is all about?

Altcoins can not now be analyzed by waves theory for example. It is very importent for a regular profit. When the market will be more stable I would use similar strategy too.

I think it is a good choice to trade altcoin rather than bitcoin for short term since the volatility of altcoin is much higher than bitcoin, as you said that bitcoin is good for long term investment and I agree on that. Bitcoin is similar with gold in our real world that will be good for long term investment.

The idea of investing in other altcoins seems interesting to me, consider the volatility of the mecardo, but I also see sometimes this can not always work and I think it is a risk.

Sure, most of the traders do things like that, but only do it if you have the skill and time to keep on watching the price, alt coin can be very dangerous because of the swing that could happen really fast, and some rising are really quick and short, but I think you can't only rely on btc to make profit, so short term with alt can be good option

That is right, for me trading bitcoin to buy altcoins won't cause any problem if you know what you are doing, but if not then I doubt if you can do it right, we should always considered first having a bitcoin  hodling but not all, we can also consider buying some profitable altcoins.