Bitcoin Forum

Hi all,

Looking for some advice.

Here is my predicament, I have around 1 BTC that is spread out, some in BTC some in ETH, BCH, BNB & other altcoins.

My question is, do I keep my portfolio diversified or do I trade it all in for 1 whole BTC and then build up my alts again over time.

Here's my biggest issue and I know this will probably cause some controversy and I'll have a lot of people disagree with me BUT:

I don't believe in the long term success of bitcoin

Honestly, in my opinion, the advantage is has right now is that it's a first mover, the first Crypto and has HUGE brand awareness.

Do I believe BTC will ever reach zero or be worthless? No, do I think it can reach £100k per coin or more, potentially YES but I believe that the reasons it will get there are all wrong. I believe it will get there purely on it's reputation, brand awareness and it being the first and biggest crypto. Utility wise, I just don't think it's a strong project anymore.

There's countless coins out there that do what BTC does now but better, cheaper, faster, more secure, more utility etc etc.

I think because of the amount of money invested, it will continue to grow because of the reasons I mentioned above, because of speculation, because of FOMO and a wide range of other factors.

Obviously, I could be wrong and I think just brand awareness and being the first to market will be enough to watch Bitcoin keep climbing but if I were a gambling man and had to take a shot in the dark right now, I'd say that in 50 years time, I don't think BTC will be sat at #1 on CMC.

So what would you guys do in my situation, would I be foolish to not trade it all in for 1 BTC and then build up my alts from future savings or do I keep it diversified like I currently have.

There was a time when I was fired up about Bitcoin, everything it stood for, privacy, low fees, fast transactions how it could revolutionise the economy around the world and disrupt the banking sector and help those living in poverty and developing countries.

I still have great respect for Bitcoin, every coin or token that has followed has Satoshi and Bitcoin to thank but when I read the previous sentence, I don't believe Bitcoin actually does what it set out to do anymore, it's neither fast or cheap and it's not transforming the lives of those living in poverty. I'm just not passionate about Bitcoin and do see it as just a store of value now.

Isn't that that wrong mindset to transfer my alts all into BTC?

What should I do?

It sounds like you are trading intermediately or as a swing. It's hard to predict this market, but generally the alts perform better during bull markets, and bitcoin tends to lead the charge and be more stable. While you may gain more percentage-wise with the alts mentioned, bitcoin is more of a sure bet according to many analysts. It's really up to you, because there is always a chance bitcoin may take up a greater percentage of the total market than previously due to investors fleeing to safety. No one can give you the right answer, because the market is too uncertain.

Here's where most people are wrong. I get it, being slow is annoying when trying to transfer funds without you willing to pay almost a dollar, but not because it's quite slow right now(compared to alts), it doesn't mean it will be slow forever. Technology moves forward and people are definitely working on making bitcoin better. As with more secure, I heavily disagree. Name one coin that's "more secure" and more decentralized than bitcoin.

As with converting all your alts to BTC though, in a trading perspective, it depends on what you're going for. If you want to have a much safer investment, then sure move them to BTC. But if you're more of the high risk high reward gambling sort of guy, then alts are for you. I'm personally holding a decent number of coins for trading purposes, but majority of my funds are still in BTC to slightly decrease my risks(as if holding BTC isn't risky enough).

you shouldn't even be asking this question and instead do whatever your own logic tells you even if it is wrong. this is not a financial advice forum and people will always give you biased opinion. so if you really  "don't believe in the long term success of bitcoin" then don't convert anything to bitcoin and continue bag holding altcoins.

unless you have actually used and tested any of them you don't get to say this just based on their advertisement. the fact is they "seem" better but in reality when you test them you can see how worse they are.

It depends on your assessment of the market. No one can give you a definite answer to this because each of us has it's own strategy and preference when it comes to bitcoin and alt.

Whenever bitcoin starts moving and recovering I usually put most of my money on bitcoin and this time I sell most of my shitcoin since some alts are affected by this. When bitcoin price is stable, I watch out for alts because some alts are profitable during this time. Well, when the market starts being bearish, I diversify my investment and add up some more alts and bitcoin for future purposes.

Well, based on your statements the best bet would be, so you would not hurt yourself after all these and "bet" is the word because nothing is sure, to go diversified. In any markets a trader never goes all in. It can be most of the funds are in an industry you really believed. So if you don't believe in Bitcoin anymore keep diversified. Do not lose Bitcoin though, chances are you are wrong.

In my opinion, the best thing to do is to stake half of one's portfolio with Bitcoin and then the rest with many good altcoins out there. Now, again this is my own opinion and I am not a good trader or investor myself. Bitcoin is not perfect and certainly there can be better alternatives on the market right now but this is a matter of trust and patronage -- a better alternative is nothing if only a few are into it. We have to remember that there have been outstanding products that did not make it to the market due to many factors -- the same thing with those Bitcoin alternatives. And when we are talking about bull run, it is always in relation to Bitcoin.

No one could provide a firm advice for you. Since you have your own belief and you don't trust in a long term success of Bitcoin, then what's the sense of buying and holding more?
It depends on how you are going to handle both altcoins and Bitcoins that you have.

Rule of thumb here, never asked for financial advises because no one is expert in this field. Heck you can even get different opinions and who are you going to follow. In the first place you have made the decision to stick to alts so why move now?

You're asking suggestions while you created already your conclusions. If you "don't believe bitcoin for long term success", same thing, don't convert all your coin to bitcoin since there are many alternatives to cash your coins. And continue to trade alts for good.

if you don't believe in Bitcoin long term activity and Succes then i think you should not even invest in it! try stocks.
but if you think as Satoshi think  ;D then you will get to the moon with BTC.

there is up and down in the prices of all altcoins and bitcoin so you must decide to trade or just hodl them :)
in my opinion if you can be a trader on these days that bitcoin price climbs with some corrections keep your portfolio with 50% BTC and 50% with altcoins that have potential to grow, check on the analysis.
Cheers.

As majority of the users mentioned it is always a good pick to go upon ones own research. As the market is completely unpredictable anytime the market will change in the uptrend or down trend. Having one bitcoin in alts is good if the assets were the top listed altcoins. As the market of bitcoin have grown without big growth with altcoins it is good to invest at least a little on altcoins.

Lets looks at both sides of the story to give you a better perspective.

1. Diversification is recommended if I look from traditional finance perspective
2. Crypto is not traditional financial asset

Today we have more than 2000 cryptocurrencies available in the market. This number is according to coinmarketcap website and we have at least another 200 different cryptos which are not listed there! Have you ever though what is the utility of these coins? Frankly speaking, I don't find any utility of these coins in my life so for me it makes sense to consolidate everything in one major crypto, bitcoin!

Now, if you have seen the market trend, you will see there is only one coin that is mainly driving the entire market. When bitcoin rises, majority of altcoins also rise and vice versa. IT has never happened that BCH or ETH is driving the volume or the market, because they are so small to drive such immense volume! From my experience of trading, I would recommend you to hold only Bitcoin and ETH and consolidate rest of the coins in to either of these two! Because these are two major coins that are capable to turn the tide! I don't see any other coin has this capability.

I wouldn't have invested for long term in altcoins if I were you! I only use altcoins for trading purpose and enjoy the fluctuations of price, I don't HODL altcoins!

In fact, this depends entirely on the trading method you choose. If you made a profit from your investment. You may think of profit realization. Don't remember altcoins can get value quickly and loose value quick. So it is your choice what you want to now. If I were you, I will definitely keep my balances of %50 in BTC.

I suggest you to only diversify your fund only in BTC and ETH. There are too many altcoin that exist, people will forget altcoins which not popular. So my advice is if you want to get profit in the next pump of bitcoin then you should sell all of your altcoins except ETH then buy more bitcoin. I hope you can think more realisticaly.

You can wait btc dominance to %51-52.im afraid it may raise to above %60, if its happen alts will make new all times lows.other scenerio is btc gors between 6k-5.5k for a while, its the spark for alts

I think you're doing well, investing in some alts like ETH, BCH, BNB is a great choice. I also think that bitcoin will be overtaken by other currencies, just look at the cost and time of a transaction. With other alts the costs and times of a transaction are much lower

First of all all newb / jr.members on this forum that claim they got 1-100 bitcoins are actualy are just spammers so you have to prove that you've got those coins.
Second is that everything depends on what you want to achieve. If you need to get some bigger profit then you may buy all those shitcoins and wait for pump. If you want to keep your money safe then just buy BTC. It have a larger cap and during all recent price changes it's correction was always not that hard that the other coins had. So if you are goind to hodl instead of speculation then buy BTC.

One's portfolio should be diversified, But make sure Bitcoin % is higher than 50%. You never know which altcoin may fail. Bitcoin will be the king for eternity, I don't think any altcoin will be able to take #1 position. Yeah it may be slow and has higher fees now but solutions are currently getting built for that like lighting, There will more second layer solutions to tackle such problems.

From those selections of alt you mentioned most of them can be hold for long term and no need to change anything, what you needed is the patience to wait and the trust that the market will bring good outcome from your investment, we don't have any sure predictions what will future bring to us, but by believing with your own assessment it will add good confidence to hold and wait.

You should decide according to your own observations, you can get some answer which will give you some good insight but in the end of the day,
It's you who needs to manage everything for your investment.

Mostly yes but not all, so we should not underestimate someone just because their member account's rank in this forum as it is possible to lower rank members has better investment that higher member ranks.
@OP, I think you have done the best already by spreading your money into some different coins as what is always being suggested in this industry "dont put all your eggs in single basket".
So you do not need to convert all your coins in bitcoin only.

not of your statement is wrong because all of it depend on your heart will, besides that all the decisions you make must have risks. for me, I prefer to stay in the initial state of having a lot of cryptocurrency because with that most have great potential and not too much risk

Well, we all have different opinions and expactations from crypto.
From my dexperience, when bitcoin grows alt coins grows even faster but when the bitcoin fall altcoin falls even faster.
I had some funds before invested in alt coins but I decided to move everything in bitcoin in order to preserve the value of my portfolio.
This is answer based on my experience.

If you monitor the only top 10 altcoins your decision was write. But currently we have many altcoins in crypto market so I see different types of falls in Bitcoin and altcoin. If you like Bitcoin it was your own decision but you complain the altcoins many supporting peoples available in this forum. If we concentrate our own decision that will be a good movement in any transfer.

I've seen your doubt and the decision is only yours. For a friendly advice, do not to put everything in Bitcoin; put your investment to other altcoins also which you're confident that has a good future and useful even before. Though it's riskier than just putting it all in BTC, it's still better to try it than just sticking into something that you're not satisfied of.

First of all, I don't have to prove anything, that's just ridiculous.

I'm not offering any product or service here, I don't think 1 BTC is even a lot of money tbh, anyone who was in from the start will have WAYYY more than 1 BTC in funds so why I'd lie over an insignificant amount of money when I gain nothing from that lie is just questionable.

Even if I was lying and this was a hypothetical question what difference does it make. It doesn't actually affect anyone here on the forum at all. Regardless, I am not lying and this 'you have to provide proof' business is just ridiculous.

Finally, this is more directed at everyone else who has replied.

I'm not asking for financial advice, I'm asking for opinions, this forum is honestly made up of the most ridiculous and uptight people that are so rigid. You could literally close down ANY topic outside of trading on this forum by saying to everyone 'this forum isn't for financial advice'.

I'm not going to bloody blame others if I make a decision and it's the wrong one, ultimately it's my choice at the end of the day and any decision I make right or wrong I can only blame myself for.

Thank you to those who have bothered to share their opinion and be friendly, I really appreciate that!

I suppose I was trying to gage the rest of the communities response and see if anyone had a thought, opinion or idea that maybe I had not thought of when coming to my conclusion / analysis.

Everyone is throwing out the same old saying's that come from traditional financial trading (Stocks/Forex) etc etc but guys this isn't traditional financial trading, literally this is a WHOLE new playing field and while some of the same rules apply (don't risk more than you want to lose) this is a unique horizon and anything could happen.

That is true. I have been witnessing the same trend of rise in the prices of Bitcoin and altcoin and the fall in the values of both the coins when the market is going into recession. This is normal for assets in crypto market. Altcoin loose quick value because where we face a loss of $600 in the value of Bitcoin lets say from $5000, a similar loss in ETH could be more than 80% in case in case it falls from $600 to 200 dollars. 

If you are holding small amount of bitcoin then you should buy more. It should be 30% or 40% of your portfolio and don't need to transfer all to btc. I think you are ok with diversified.

Altcoins are now cheap, but it doesn't mean they will not rise.
Analyze first how much you can make with investing in bitcoin based on your analysis compared to how much you will loss in altcoins if you transfer it in bitcoin. For me, it's quite complicated, it needs proper analysis and if I'm in your position, I would not touch it, just wait until they will start pumping again.

Then, an alternative decision can be taken. You can exchange half of the altcoins that seem to be not as profitable as you would like to see them to BTC, and the other half will be in Bitcoin.

Diversified investment is good to earn profit from other coin. If you found another crypto to invest aside from btc which also offer good project then it is good to invest. Although Btc as the top crypto diversifying investment is really recommended as long you know the project.

Yeah it's worth a try, many people recommend diversifying. and it was far more profitable and safer they said. still use bitcoin as the
main investment dude, and you can allocate a few percent to the altcoin, I use that strategy anyway.

I think you don't need to transfer all to BTC for long-term investment purpose but there will be a time for you to convert all of your altcoins  to BTC in order to save your investment capital, to save your funds.

No need for advice. You already made your analyzation and not just a simple guess.

What if I say go all-in BTC, will you follow? Trust your own judgment rather than rely on other people's opinions. Or think of more possible outcomes so that you can each set a strategy.

That's your money after all.

I don't think that is a wise move. Remember the last time we were in 20 thousand dollar levels? Ethereum went to 1500 dollars and all other coins went up like that as well.

Yeah, when the first time bitcoin goes up all other coins drop in bitcoin value but they mostly stay around the same levels in dollar value because of the increase in bitcoin however when there is enough time given they go back to their bitcoin levels whereas the bitcoin is still high so they worth more in dollar value. That is why I am keeping a lot of bitcoin myself but I am not changing my altcoins to bitcoin, I am going to keep them until all this bull is over and I am going to keep having that for a long time. I am not planning on touching any of my coins until I really need them for something personal.

Bitcoin is not about transforming lives of people who are living in poverty and it is never meant to be, it is about freedom from financial regulations where you are not able to purchase goods freely with your own money and to overcome hurdles when it comes to international trade, it is far cheaper than traditional banking system when it comes to international transactions and trade, when it comes to personal choice on where to invest the decision is yours on what you think will be biggest game changer in the industry in the long term.

First rule on investment world

-Dont invest on the amount that you cant afford to lose (Ex. Life savings) which you have done already
yet it is really very risky to diversify your savings with crypto investments yet anytime this thing can wreck you down.

About on your question and insights.Nothing on this world is permanent and yes bitcoin can be possibly replaced on top spot
yet there are alts that do much more better than btc but basing on the support itself, you can really say that btc
do really have that thing no matter what which do built some confidence that this would push through future but still
its your choice if you diversify into those alts you have mentioned.

It is good you take the decisions yourself and be able to make the investment decision yourself . This market is a risky one and when I want to take any decisions I do take them myself and I hardly seck other people opinion.  Many of the altcoins has refused to grow and no one knows if there will start to grow when you convert them to bitcoin and you will have to regret.

it seems you already have decided what you are going to do? just need some sort of approvals?
based on your post, you are quite comfortable holding onto your altcoins, so... do what your heart tells you
if you don't believe in bitcoin's sustainability, you should keep coins that have direct fiat trade pairs
because when bitcoin no longer exists, any (alt)coin which relies too much on btc will decrease (if not crashed) in value

The price of bitcoin from the past months was at $3,000. If you have that doubt with altcoins, it's better if you have sell all of your altcoins back then and then bought 1 bitcoin when it was at the lowest price. See the price of btc now,  almost $6k . So if you transferred your altcoin into bitcoin, you had 50% profits by now. Anyway, at the end of the day it will be your own decision after all.

Definitely no! You shouldn't convert all your BTC into alts. Always make it half. Bear in mind that bitcoin is still the king, and if you have any dilemma that it will soon die, so must all altcoin 'coz they are correlationally proportional to one another. Always leave some funds in BTC to be safe. Look at its history. Whenever bitcoin goes wild, it really soars, and no altcoin can chase it.

that was from the past but now we are now on the present and the current value of bitcoin now is already at 5.7xx k usd but still even if the value of bitcoin was cheap i wont still suggest to the op that he converts his btc to alts because btc still got the highest value among other coins and its guarantee that btc can recover and pump compare to other coins out there  .

if he trully want to buy alts then he should buy it using his own cash or any other funds as long as he dont touch his existing bitcoin invstments  .

well, I would suggest selling according to your needs. but if that's the thing you want to put together all the funds you have, I think there's nothing wrong, seeing the current development of bitcoin is really very good.

Well, have that much potential, but since you have 1 BTC, I think, the better move is to allocate some of it into altcoins that have a good chance of making a good run when the market changes like Ethereum, for example. It has been showing good changes and increases in the past several months, and since its value is not as high as before, it can be a good option to be bought in bulk and to gain a lot of return from when the time comes. However, I only suggested a part because Bitcoin is still the most reliable coin out there.

Already you decided that bitcoin is not going to hit $100K or more then no point of converting your alts into bitcoin but I wonders why do you feel like that,bitcoin was evolved from nothing and hit $20K in less than a decade so in the next successive bull run we are going to see the price of bitcoin more than $20K at least so I will convert it into bitcoin but for you,just decide based on your opinion.