Bitcoin Forum

I have been telling my (online, because I don't know anyone in real life that even knows what bitcoin is) friends to get rid of their altcoins, because sooner or later there would be a massive bull run to bitcoin that would last months. They never believed in what I had to say. "Bitcoin maximalist" they would accuse me off.

Recently, they finally dumped their alts, which they were holding in hopes of a pump to make more bitcoin with, and simply held BTC. They have dodged the massive alt crash that has brought up BTC back above %50 of the crypto marketcap dominance.

Im not saying all altcoins are shit, but most are. It seems finally reality is kicking in amongst noobs that thought they could get easily rich with altcoins, and they are finally going back to BTC.

I think did this the worse time , actually now is time that people should invest to promising ICOs and other Alt coins.

It's the worst decision any one can make. '' Holding altcoins when they were falling and sell them when they are ready for a big pump ''
We are approaching the fork and after that demand for altcoins will rise again.

indeed many people thought that way and to be honest me too.
but i think it's a bad idea to get rid their altcoin while it's all underwater,
which mean they're hoping to overcome their losses by holding Bitcoin and gain the profit from the run.
we may be can see another run for a few days later on,but what will happen with it after the segwit2x ?
i heard it's a bad idea and if it's locked in i believe there will be another massive dump that will happen with it.
and with that altcoin will slowly recover or at least a sign will come up from them

Really ? ICOs are scam and may turn only short time profit if you get the coins first and be first to dump them as soon as they go on exchange. As for other AltCoins, please let me know what coin can even be compared to Bitcoin ? Jump of over 800% on yearly basis. I understand that it can happen with altcoins too, but their starting price is 0.0001$ and no one is really using the technology behind the coin, just users investing because they are looking for profits.

I don't think they will be very happy when Alts spark off again. They'll be trying to get on the moving train then wondering why they listened to you.

So you made your friends dump all alts when they are all in the deep red? I'm not quite sure your friends will thank you when this bullish run will be over LOL. Unless, of course, your friends wanted to convert all their crypto into fiat soon.

Maybe it was a good idea to dump alts for Bitcoin a month or two ago, but now when almost all alts are deep in red numbers I would rather HODL. It's usually not a very good idea to sell something that's low to buy something that's high right now. The cards can change any time and maybe we'll be surprised. My bet is that the money from Bitcoin will start flowing back to alts sooner or later (I'm not saying that Bitcoin will go down though).

Ah the bottom is near. Massive rise in alts ahead as BTC tops out at $8 - $10k and the exhale into alts begin, repeating August again after the 2X fork fails and Bitcoin gold dividend is collected.

It's pretty late to be swapping alts for bitcoin. It sounds like you convinced your friends to take a risky gamble.

It's always going to be roller coaster ride, and diversification is good, overall.  I'm not selling my alts unless I lose faith in the project.  I'm a Bitcoin Hodler, too, and expect a pullback there after the b2x snapshot, but I'm not selling that, either.  'Chasing returns' and 'timing the market' rarely works long term.

It's certainly a more stable investment in an unstable environment but I don't agree that there is going to be just one coin at the top and everything else is going to zero; it doesn't work that way in any other industry.

That being said industries are typically led by a few that make up most of the market cap. Then the remaining slice is divided up into the rest; it could definitely be the same in crypto.

But if your good at researching and diversifying you can pick some of the little guys that are likely to go up 100-1000% while the big guys get their little gains every year. I guess if you're a passive investor that likes to leave your money in something and not think about it then the top 10 coins are where it's at. Hell for most people on this forum it wouldn't be a bad idea to put the majority of their roll into those anyways and throw tiny amounts into the other stuff.

In my opinion it is a very bad timing to sell altcoins m8. If they could do it a few months ago it would be ok but now it is too late to sell altcoins. And fork is about to finish as well. people will jump to altcoins not to bitcoin soon.

after the bullrun people will be pissed off and anoyed by bitcoin, bitcoin is also an altcoin you are to bitcoin fixed, blind for the problems and damages that bitcoin causes

regards

always keep 30-50% in btc

however the good alts are going to make you more from here on in percentage terms

I think nothing is guarantee in the cryptocurrency world. I think some altcoins which have bad prices currently, can bring good profits in the future.

I am all in alts and I am seeing all my missed opportunities in the last weeks and months. But to try to correct these mistakes now seems a bit too risky for me at the moment. The rise of BTC doesn't look healthy at all, and to switch my alts now to BTC may lead to a dreadful loss. So I am holding my alts, keep watching the market and try to learn for the next time, when history repeats.
 

your friends shouldn't be investing if they're going by your advise and not their own research

the joke is that even the own research will not be enough.....

After the BTC bull run is over and people get their free money from the fork, where do you think they will re-invest that money? Personally, I think they will put a lot of that money back into the alt market.

You gave your friends "buy high sell low" advice? I think they'll regret it after the fork.

That is a really stupid move, because sooner or later the altcoins will recover when Bitcoin will step up on its crazy rise.

Looks like a good call to leave alts a few days ago, but now is probably the time to go back gradually as the segwit2x fork coming. Bitcoin will be in a month of uncertainty and alts may have an opportunity to bounce back, the problem is which alts....

Bitcoin's bullrun might end even before the fork, if the "free money" isn't enough to justify not selling on the premium caused by the fork hype.  The smart traders always seem to sell on the hype before an event, not wait for the actual event itself.

This is the time to be buying the good alts, not selling.  It's too late to get in on this bitcoin push if you haven't already.  As bitcoin's price continues to increase, so does its risk, and the profit to be made diminishes.  Traders are already looking for the next big flip, and that will come from an altcoin.  Which one is the question.

You should not give that advice to be honest it can turn around a bite you where it hurts.  Altcoins are going to play a big part in the cryptoworld.  You can call most shit coins but there are some that are already changing the game. Never put all your eggs in one basket is the old saying :)

Honestly, to keep all of the amounts in the altcoins were not a good decision. But nice try for your friend. I was always buying in the dip to manage my loss. That means your friend already sold their altcoin portfolio in lost.
It seems 15 -16 November becomes the final result of the bitcoin bullish moment. I hold around 50% in bitcoin.

OMG. I am glad I am not your friend. would be such a loss to sell my alts now and not few months ago when was expensive.   I think your fiends just distributed some of their value to the more patient ones :P

I believe that you are right but not completely because there are many very interesting projects and they can be raised much more than just bitcoin

I have done the same, i was holding a lot of golem's and zrx's for months, and i decided to dump them last saturday, and i exchanged all of those altcoins to bitcoin, and i am happy with that, because when i dumped them bitcoin was about $5700, and now it is upto $7450 each one.
I am only holding 2 ethereums, but i dont know, i dont want to dump them because i feel like that those are my favourites altcoins, no matter what, but yes, if it dumps below $275, i will dump them anyway.

no doubt alt coins will recover. i sold all of mine except for golem because the price is to low. i will reinvest though after this run.

Lol. That's a pretty dumb decision tommake specially at a time like this whem a fork is about to hapoen again. Clearly these guys you are saying don't know much about how the crypto world works. I mean, i love bitcoin and all but, i sure believe in the altcoins i own big time. Because i have not just invested without thinking a lot of times and researching about the altcoins i have. And besides, what ever it is, profit is still profit. A lot has gained a lot with altcoins. Not because altcoins are better with bitcoins, but because these people sell and buy at the right time. That's how i see it.

Depends upon actual "Dominance" as seen on https://coinmarketcap.com/charts/
If the bitcoin Dominance is rising, we are like 62% around tomorrow, it's unwise to hold more than 40% in Alts. On a rise better lesser than those.
The first sharp drop on the Dominance charts usually made a short rest, that is the ideal buying point for the small marketcaps.
Factually trading is easy, just the patience troubles, we are looking at four years of data on that chart.

Now is the worst time to sell altcoins because all of them are in red. I udenstand that people are selling them because of the fork. I personally wouldn't sell them when the price is low. I think that after the fork, prices of altcoins will start to raise. There are good altcoins out there and I think that they have a future, together with the bitcoin. Of course Bitcoin is a King of cryptocurrencies and it is wise to hold at least 50 % of portfolio in BtC. But I don' t see a reason to dump all altcoins. I am sure that some good coins will have a future.

Not a good decision for selling altcoins when the price is low and you buy when the price is high. Actually, it is the best time to buy altcoins during red days, because altcoins price will recover. The same scenario last hard fork altcoins dump but it will rise again.

The thing with altcoins is that nobody really care about them. The majority of people just want to earn more bitcoin by investing in altcoins hoping for a better return. So as long as they are invested into an altcoin they will praise it to heave' and back in hopes for a moon landing somewhere in the near future. Only to dump their alt for more bitcoin.
To opposite happens when the altcoin crashes down and everybody is losing money. In the hat case the altcoin is dead and always has been dead or it's a scam, pump and dump etc. (a good example is siacoin).
So in reality nobody truly cares about altcoins most of them just want to make more BTC or $. And if they say it's not true they're most likely lying.

Do you really think no one cares about Ethereum?  Or Litecoin?  Or Dash and Monero and ZCash?

And if you follow Siacoin development at all you would know the last thing the devs want is a pump and dump coin and they are definitely not scamming.  They actually don't want to market it yet because they want to develop the technology.  There was a lot of complaining when one of the developers said they didn't want Siacoin to pump when a bunch of other coins where getting pumped (and subsequently crashed).   Yes they did become overvalued for the stage of development they were at due and there was a natural price decline.   And no Siacoin is NOT dead and is being actively developed by a great team.

Your friends have definitely made the right decision at the right time.

However, this will not always be the case. Alts ar a lot more volatile than bitcoin is which means that there are a lot of opportunities and cases where alts will outpace bitcoin growth, especially after such a bearish season to start the month with.

Right now would be a perfect time to stock up with alts, in my opinion.

Holding only Bitcoin is the most easiest way to make profit because of the price jump recently. But it's also stressful, because volatility is biiiiig. Now it's good to hold on, but remember what was just 2-3 months ago :D

It you have time and courage, to read and trade with alts, profits are bigger and the risk is smaller. However, you are right - there are a lot sh*tcoins around.

This time Altcoin price was too low and could hardly lower as GCR for example, so selling at this point is not appropriate. BTC will grow, maybe next time there is a sharp drop is due to the shark's move to sell goods but then will increase again. When stable Altcoin BTC will boom strongly. ;D ;D ;D ;D

I do not consider it a good idea to drop all my violas now and translate them into bitcoins. Altcoins will still show their potential, and bitcoin will not always grow by 800 percent a year. Of course, in order to have a good profit in violas, you need to understand them well, to know which one is used and for what purpose it was created.

I have alts in my wallet , but i will not dump them . I will still hold my alts even if its not going to pump by this year. I believe that alts will go pumping by next year 2018. Hope your friends never regrets for what they do to their alts in the end.

I think it's the wrong decision, because I think the altcoin downstairs is not just a few, but almost all altcoin down to deep red, and hopefully this is only temporary, after this people will sell the bitcoin again and buy altcoin again, unless your friend really is in need of money, then it does not matter if it sells altcoin now

They should have dumped them in june, when they were at the top, not now that they have tanked all the way down to what is likely to be the bottom. When you have lost 70%-90%+ of your money because of the price tanking, what's the point of trying to save 10-30% of your investment, compromising the chance to get it all back in the next cycle of the market?

I think that is the reason why you do not have much friends in real life. You probably advice them to do wrong. Always sell on high and buy low.

If Bitcoin will goes even higher it will burst and will hurt all cryptomarket in general. No one is ready to Bitcoin cost so much. Even the Bitcoin maximalist. I think it will goes back to 4500- 5500 $ atleast.

3 transaction per second, old infrastructure, outdated technology. More than 7000$  ??? ;D


Altcoins is the future.

I guess we'll see interesting things happening after the fork...

you friends will kill you soon  ;D just kidding but that's a really bad decision as btc will stop rising eventually and then a huge pump for altcoins

Despite what most are saying that now is a bad time to sell alts, i beg to differ.

Why? Because look at the short term speculation first, bitcoin will pump before the hard fork. This has been happening and is proven by history in the previous two forks. Bitcoin will rise because many people will buy bitcoin expecting free dividends. That being said, now until some time before November 16 is a good time to sell alts, then on November 16 buy back again.

Even I have sold some of my altcoin holdings not all . I sold some tokens because I dint see any progress from devs or team and dint find any potentiality after fork that kind of token I sold for ethereum not for bitcoin because comparatively after fork eth will be the first alt coin pump hard for sure.

But I haven't. I believe it's not worth the transaction fees to start converting them to bitcoin. The alt too are rising to some extent against USD and bitcoin is not going to rise indefinitely.

Lucky for those friends of yours did able to get in on the right time which they did able to earn percentage profits but if those alts are good ones and they did pull out their investment then the possibility of regrets will occur later on because we cant really poinpoint that bitcoins price will still continue to rise up even more.If they would able to see pumps sooner on those alts that they had invested which they saw that they can earn more then they will surely regret such decision.

I think now is the time to BUY but not to SELL alts.

As someone mentioned above - forks of BTC will end soon,and the more its forking the less trustworthy and expensive that shitfork becomes.

ALSO - alts mostly dumped to BTC, but in USD they are pretty stable.Whats the problem?

HODL guys

You have very wise friends OP. However, not all of them alts are going to be useless or go red. I have done the same, but I am still keeping a few like NEM and Monero, which I feel would still have a very good future. Only time will tell if their decision is a good time, one requires plenty of patience in this business.

Actually it depends on which Altcoins you throw and how many Altcoins it is. If what you throw away is Altcoins that comes from the new ICO, then it does not matter if it is discarded because we do not know whether they will succeed in the future or not. But if what you throw away is Ethereum and the amount is quite a lot. Then you're wrong. At least let the Ethereum be buried for several years. Later on you can make a big profit out of it.

Because basically, the price of each Altcoins will always go up. We just need to be patient and not panic when there is a price change. Hopefully we can be more wise in addressing Altcoins.

Not a wise decision for me to dump their alts when it is utterly low to buy bitcoin which is already unimajinably high, too late I might say

Once bitcoin bulls stop taking control, alts will skyrocket  ;D

If all of your friends did that then do not be like them. If you will sell or dump all of your alts then it is a complete loss and i know that you don't want to get losses or negative profit and if you bought good coins then there is nothing to worry about because they will get up again once the hype or bullishness of bitcoin will be gone.

I think it's too late to dump alts now. It will be the cause of bigger losses than HODL them through the hardfork. They all will grow back after the middle of November for sure.

Your position is quite correct but the issue is in the face of difficulties that alts are facing now, there is still some element of profit making although it might look dim because if the massive crash but that does not mean people are still making money along the line. Also, one sure thing about the cryto market is that nothing is constant for long as the issue at hand now is not something that would last long. The crash happening to Alts now has been about say 4weeks which to me is still short to make a position about the fate of alts.

Dumpers now are all have weak hands even they knew they're losing still they dump their alts. Like this isn't the first time for the alts to kiss the ground so we should all know that soon they'll recover after all this bullish run of bitcoin.
I have this one friend that after seeing the alts in blood bath he immediately dump almost of his alts and try to convince his self that's everything's fine and just buy back again. And that statement of him makes me think that's he's insane and stupid.

Just wait for the new Alt season...you have pretty obviously not so intelligent friends if they dump on the bottom haha...now its time to fill the bags!

These teams differ in size and impact, which has to be counted in. 1 Vitalik weights way more than 1 Lee. Intellect, not body weight btw.
The Monero team has a bigger number of participants in comparison to Dash. And Zcash is a company, you can buy stocks of other companies like PayPal, too.
Sorted along that order you approximately get: Ethereum > Monero > Litecoin > Dash > ZCash
Days before (another!) fork day I will stock up on these in exactly that order and weighting!

Selling ALTs at an ATL to buy BTC at ATH is a quick way to lose money  ;)

So buying at an ATL and selling BTC at it's ATH would be a quick way to win money?
But how do you know what's an ATL or ATH ;)

Do not even seek for perfect entry or exit points. Watch the progress as a continual show, averaging down or stocking up as a daily bussiness.

Are you sure, I heard star investors speaking about investment strategies. I'm not sure but do they not repeat something like this: Buy high, sell low?  ;D

IF I have learned something from crypto is to do the opposite of what the herd is doing. I believe that now would be the best time to buy some alts as they are pretty cheap at this time. Needless to say that one should pick coins with strong fundamentals.

And you may want to wait for BTC to hit $8000 first. Or even $10,000, but I think $8000 is where I would start nibbling.

Holding alts in these last months was not very profitable. Should have traded them for bitcoin some months ago. This would have been a wise decision. But right now It's better to hold them a while, but you'll have to be patient and have a long breath. Because bitcoin will hold the uptrend for at least another 6 months.

Holding alts not all recommended way of making money to anyone because if that concern alts value dumps that we will face the issue for the n numbers of coins holded from the tokens or got as a alt from anyone.
Instead of that you can put your amount in trading and start trading it for fiat, btc or eth.
If you hold the bitcoin for the same 6 months that value will increase like sky rocket for the amount you holded.