Bitcoin Forum

Hi Guys,

I am expecting a big pullback with the current rise of BTC to 10.000$ and planning to sell some or switch to ALT.

I have 2 possible options;
- send my BTC to Kraken and sell high, buy in lower (hence the server errors on Kraken at a normal day I expect many difficulties to sell/buy when the market starts to move, so this wouldn't be my top pick)
- switch from BTC to altcoins via Exodus/Shapeshift exchange; spread over 3 or 4 coins (I am thinking 33% LTC, 33% ETH and 33% in another supported coin like DASH or maybe Bitcoin Cash) this would be my favorite play

Which would be your favorite and if you spread coins via Exodus, how would your spread look like in which coins?

Thanks!

Before the btc starts to dip convert it to USD then after the btc dips convert your usd to btc again the outcome more btc.

ah not as easy as you say, better hodling your bitcoin or go arbit at several market.

BTC is always profit making asset. So it is not advisable to sell your all BTC.  However you may buy some Altcoin also. 

but if my suggestion is better if at this time you have 1-0.5 btc better you hold it because i see btc will go up to $ 1,000,000 but in 2020.

You can always allocate some for ALTcoins but never go all in in a specific ALT, based on my own experience I earn more when I transfer bitcoin to tether at high then buy at low. Also, I have some investments to some alts but most of my funds are in bitcoin.

BTC will have correction soon. So my suggestion for you is to spread 2/3 of BTC in altcoins with upcoming events(check for new release/burn of coins)..

Check this..

http://coinmarketcal.com/?form%5Bmonth%5D=&form%5Byear%5D=&form%5Bcoin%5D=&form%5Bsort_by%5D=hot_events&form%5Bsubmit%5D=

But buying altcoins means like 5% of total for each one.. And sell altcoins right before events also with 10% profit ;)

Other option is for you to buy top10 alts, because they are not so volatile as others and hold for long term. Its on you how much time you have.


Regards,
Aljaz

for now wait bitcoin prices up to 10k $ and sell 50% then the rest you buy altcoin

I just think about another option just like try to send your bitcoin directly to the centralized exchange site. Remember every exchange site has different demand and that makes the possibility about the different prices between each exchange site. Try to swtich via exodus seems not to be a very good choice.

I have same feelings about fixing profit now. I suppose everybody around thinks when the correction begins and hold their hands under the red button)) I'd like to go to Tether USD for some period of time as of now.

for me the choice is obvious. if i really speculate a drop (which i don't at the moment, just for the record) then i sell to fiat and wait for the dip to end in order to buy back at the bottom.

if you are expecting a tiny drop like 5-10% then what you say makes sense. otherwise a bigger drop lasts longer and it only becomes hard to sell when everyone else starts panic selling. and if you do really expect a drop then you should act on it faster and before others do.

this is a good option only if you think these altcoins will go up equal or greater than the amount you expect bitcoin to drop.
if bitcoin drops 30% and these alts drop with it (like they always do) you lose more money!
if they rise but not rise equal to 30% drop of bitcoin, you again lose money

for example recently (last drop) when bitcoin went from $7800 to $5500 (-29% drop) ETH went from $330 to $295 (-10% drop) and LTC from $66 to $57 (-13% drop)
dash was the only one which went up but that was because it was already being pumped, other times it follows down like others!

Thanks for all the replies guys!

Just tried to log in on Kraken and it already took me 10 minutes due to server errors, so sending and selling via Kraken is definitely not an option for me. 

@ BitcoinHodler thank you for the info on the alts. I always thought the big cap alts more or less remain stable but just looked at the charts and they indeed do more than I would like to risk.

So I guess holding for now and sit out the correction

It's very risky at this time, to buy altcoins is only not risky when we're in a calm market. The market is very volatile and the price fluctuation is high, shiftings are not recommended.

I simply suggest HODL Bitcoin! It will likely go $15K.

Hodl BTC. If I have not traded BTC for alt coins, my value would have been so much higher.

You can trading bitcoin to altcoin! and sell it at best price
Hold somes coin: LTC, DASH, ETH and BCC coin

If u believe there is a drop coming going to strong alts is a good play.

You have a good plan already. Don't sell all out. Just follow your plan and select good coins.

Whatever you do, just don't send anything to Kraken. It's a horrible place and not working well for one single day. Can't understand why anyone would still use it compared to all exchanges which are actually working.

There will be a pullback one day but I think it's pointless trying to guess the timing, since you'd be wrong like everyone else is wrong all the time. Just in November many analysts sold waiting for a pull back at 8000, then closing 9000, then at 9500, now at 10.000. Maybe the pullback comes from 15.000 to 10.000, who knows. Secondly, if Bitcoin would crash hard altcoins would go down with it. If you sell BTC now to buy ETH or Dash or whatever, you are selling high but also buying altcoins high.

If you want to buy altcoins today could be a great day compared to Tuesday next week... or really bad. I don't think there's any real way of knowing that.

If you want to sell 50% of your BTC why not for example sell 10% once a week for the next five weeks. Then you would average out the price movements. Each week put it to the alt which hasn't made so big gains. I sold some of my BTC for NEO, which hasn't moved at all now. Also bought IOTA few days ago, but I wouldn't make that trade now when the price has moved up 30%.

I like Exodus too btw, great wallet  :)

And if you are thinking of selling to FIAT, check Bitstamp.. for me personal the best one for selling and withdrawing fiat.

Regards,
Aljaz

I have a kraken account but I've never traded on it.

I like you strategy for selling the 50% over 5weeks. I've always believed in selling 50% to re-invest in AltCoins and holding 50%.

Now I'm gong to add the 5*10% sales method, so far the fees are reasonable.

Thanks for sharing this strategy.

Keep and hold a good portion of your bitcoin. You can allocate 20%-30% on profitable altcoins.

Make your conversion into several stable altcoins. Buy Ethereum, DASH and Ripple. Choose the smaller alts like Vertcoin. However, I think you should keep at least 30% of your BTC in your wallet, friend.

In the long-term perspective, I do not think that bitkoyn will drop in price. On the contrary, everyone expects its further growth. Therefore, it does not make sense to sell it. However, it will be reasonable to partially translate funds into promising altas, including bitcoin in cash. I think that in the near future it will be quite promising for making a profit.

Ok, that is a nice project. But If I were you, I wont switch BTC to altcoin. Because Bitcoin is rising up so much, I will get big profit in the future

Well if you picked dash you wouldve seen some gains during the sell off of bitcoins. As you had seen almost everything, well everything else including bitcoin has dropped by alot. If you had all dash, you probably seen it was the only coin standing and going up in price while everything else fell hard.. theres a recovery in the market now and it ooking pretty solid and stable. During these times its good to transfer all your assets into usdt, wait till the blood shed is over and buy backin on dips or when the market is stable again

Just as investor you should understand the importance of diversifying. So it's the most right thing that you can do imo. I'd like to advice to do one more small portfolio with high risked assets. It could bring a lot of earnings in a long term.

I advice you spread your investment and risk, invest oart of your portfolio into Altcoin and reserve some in BTC

Sell them high buy them low is our motto as investors. The bitcoin now went down a little below 11,000. I'm looking at a good increase in the future. The btc is going up, not down. So if you wanna ride with the wave then just hold your btc. Or if you really wanna break it down, you don't have to transfer it all to alts. You can just get a portion of your btc and invest in eth. It is the alt that has so much potential now.

It's a good idea when Bitcoin is high to invest in some promising alt coins and then sell those alt coins when Bitcoin has gone down from the original value that you investing in the alt coins. But these days it's much harder to predict the market has people have been predicting a price correction for a very long time and bitcoin continues to rise.

Neither...why not just hold it until it doubles up again. It went from $1800 to $10,800 in about 6 months. What do you think is going to happen in another 6 months? Just hold on to it. When it doubles in price, sell half your coins and profit like that. Wait for it to double again, sell half..etc. I would say to only do this if you REALLY need the money, or are VERY scared of the internet or crypto crashing. Otherwise JUST HOLD.

Trading in between coins and selling OTC trades to earn profit seems really good and favorable to take an advantage from.
Do not invest in BC or DASH hence these coins are more controlled than ETH, LTC or BTC.

I'm expecting a near pullback too. You can buy tether and sell for bitcoin when the price is lower.

You can wait for bitcoin's value to go lower if you already sold yours then buy it again or you could just invest on some altcoins like ethereum.

the only problem with your strategy is that bitcoin hasn't dipped but in fact the altcoins have dipped more since you made that post on the 28th november. Do you think bitcoin will ever have a dip again, so many new people buying in every day. This has never happened before so it may just continue to rise and not come back down than if you have sold all your bitcoin you run the risk of having to buy back in at a much higher price. If you haven't sold yet i would recommend saving 50% of your bitcoin.

If I had enough money to buy a full BTC coin or even two currencies I would definitely be sure and would leave my money at BITCOIN. I think that opting for safety is better than being in the uncertainty, I have seen many altcoins that broke in a few days and left many people in harm's way.

If you always try to switch from BTC to any alt you will get a loss as for now any investor will not sell his/her bitcoins and move to alts.

I do not recommend swapping the coins in shapeshift because the rate is very low from other than regular exchange

The man wrote a very good piece of advice. I advise you to look at him with your eyes. He is right to say that it's better to fix most of the (60%) in bitcoin, and for the remainder to buy a few altkoins, just think carefully which ones are better. And you did not say how many bitcoins you have, if you have 0.0001 bitcoins, then there's no sense in doing something with it)

Naturally you must listen to yourself first, but I won’t sell all Bitcoins to get altcoins. Hold at least 30% of BTC in your wallet and buy alts from the top-10. All together they will give you more profit if you make a long-time investment.

It doesn't make you any less money if you exchange whatever you have right now. You could make more money if you decide on purchasing more fiat though lol.

You don't sell all bitcoin but can sell a part of your investment in btc and add some good altcoins in your portfolio. There are many good altcoins as ethereum, dash, monero, waves, ripple and stratis. You can choose 2-3 from them as per your choice and hold them for long term to get decent earnings.