Bitcoin Forum

Altcoins are bleeding, BTC is soaring. Yes we all know, we've been here before.

I have bled a lot of BTC value from altcoins losing in this way, almost 40% of my BTC value. USD amount has stayed the same but obviously this is not ideal.

What I am debating doing, is selling all altcoins (maybe except ETH, BCH, LTC) into BTC, holding BTC through to just before the fork, then buying altcoins back at a discount. I know it is hard to predict the market exactly, but I really believe this makes sense. In order to do this, I would be selling a lot of altcoins at a loss, which I'm not excited about but again I think if I can ride the BTC wave and then get back into alts cheaper, it will be better in the long run.

Please let me know your thoughts. I have DMOR but this is a big move and I just want to gather new thoughts, support or resistance.

Cheers.


EDIT: Forgot to mention, yes this strategy would not make me eligible for B2X, however I believe that the value in grabbing alts at a discount before the post-fork pump will be higher than banking on B2X, especially with all the drama about whether its going to be good or not.

personally i liquidated alts before both forks

prefer to buy them with my profits from the forks

Thanks for sharing.
Yes I think this is also a popular way to do it, and in a way, this supports me making this decision. I guess I believe in buying alts right before the snapshot, as that is when they explode. And if I have several BTC in alts just before that pump, is that going to be worth several BTC in B2X. That's the million dollar question.

But either way, I am debating liquidating alts now, even if at a loss.

I think the pump from B2X could be bigger than the one from BTG, so I will also be putting most of my assets into alts. The trick is going to be picking the one(s) that will offset the fact that I won't receive any B2X, but depending on where B2X ends up price-wise that might not be too hard.

Agree, I think it will be potentially huge the alt pump.

I guess the big leap I'm trying to figure out now is whether to sell my alts at a loss or if I'm committed to riding this out.

well i always go in with a loss i can stomach in my mind

but that level is different for everyone

sometimes its better to cut your losses

Selling all the altcoins before a fork is one of the best things that you can do, you should know that altcoins tends to bleed a lot when a fork is announced, so it is a good move.
And then use that money and the free coins to buy more altcoins, this is one of the most good things that you can do once that the fork is done. anyway, i would keep some altcoins, you will never know what is probably going to happen to those altcoins in a few months from now.

Do you think it is unfair strategy sell your altcoins to buy Bitcoin when the price of alt is bleeding?. In my opinion you should buy alts that you think has the potenrial to recover. If you realy like to be eligible to get B2X coins then go for selling your altcoins to Bitcoins and buy back the alts after the fork.

A lot of people don't realize thgat if you would of sold your alt coins for btc back in June, that you would have tripled your money if not more.

well.. if you send now, you will receive BTC in ATH.. while you leave your bleeding alts.. market is not predictable, and what worked some time ago, may doesn't work now.. So this is a very risky strategy as you aren't the only investor thinking about this.
BTC has been risen too much and too fast.. this is also the biggest market cap have ever seen 183.000M$, so there isn't only money shifting form alts to BTC, but there is money flowing form inside to the crypto market. When some of these investors sell to get some profit, if too fast = panic+ big BTC drop. I think this will happen soon.. very soon... so i wouldnt assume that risk.
In this case it is better to leave everything untouched and let things get stabilized, instead of trying to maximize profits and ending fucking up. Altcoins will recover, the pump will be just HUGE when hardfork is over.. unless you got shitcoins.