Never tried to do that, I prefer holding altcoins, selling them at some point and just putting some of the gains in Bitcoin. The rest I'm just withdrawing. Jumping from one altcoin to another is really risky and requires a lot of research and guts.
Yes I am only talking about starting with £100 - it will either go to zero or I could turn it into thousands in just a few trades. I think I will give it a good soon to see how I get on. |
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I understand this is like gambling however i have seen multiple altcoins pump over 100% in recent weeks so this is doable , especially in bull run when everything pumps even more.
I am not talking about doing this with micro caps, more low caps that should be around till the end of the next bull run at least.
It only takes 7 doubles to go from £100 to £12,800.
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I hold quite a few altcoins and some of them have almost seen 100% profit in less than a week lately and it got me thinking how I can make the most of this volatility.
I am thinking of starting with £100 and compounding profits jumping from one altcoin to another.
For example starting with £100, i see 100% profit so then put £200 onto another altcoin which also sees 100% profit so i now have £400 and just keep doing that until I reach an amount I am happy with.
I know this is risky as it only takes one altcoin to go to zero to lose my money but I am ok starting with £100 - does anyone else do this?
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Like I said I am not looking at trading to make a big return and if I start with $200 will be happy if I can turn that into $1k to then invest the profits in my long term position.
Alliance block I mentioned above has pumped even more and done over 55% now in less than 24 hours so had I put my $200 in when I thought I would now be over $300 in less then a day.
The plan would then be to put that $300+ into another coin that yet to pump, wait for it to go up then repeat till i reach $1k so it is swing trading I am thinking of.
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The two altcoins I am talking about are Alliance Block & Kaspa which have both been very up and down over the last week or so. Alliance Block pumped 35% in less than a day today.
I am just getting bored of only buying and waiting for bull run as I have been doing that for almost 2 years now
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Up until now I have been just buying and patiently waiting for the bull run but in the last week I have seen 2 altcoins I was interested in pump up 40% in less than 24 hours so want to try make some money and give trading a go.
What is the best site for this in the UK?
I am only going to start with $200 roughly to see what I can turn it into over the next few weeks and months as the market is starting to get very volatile so could be good opportunity to make some extra money which would then mean I can invest more into my long term plays.
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If I may know, what coins have you had up to a year? Holding up to one is the right choice to get maximum results if the coin you are holding is the right one, such as BTC and Eth
I don't hold any BTC or ETH. I don't plan on ever holding any ETH but do plan on getting some BTC once my altcoins have pumped. My main two holds are Quant & Cronos. |
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Wish I had believed in it at the time of this post.
I did manage to get in at $0.02 but sold soon as it reached $0.05 for 150% profit.
Anyone know why this is performing so well? Many are saying it can easily reach $1 in bull run but i am not sure if that is just a lot of hype which is what we are seeing currently.
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Well we have had a mini pump the last 72 hours - biggest we have seen for a long time anyway.
I am just going to continue to DCA until the halving next year then sell bit by bit throughout 2024 & 2025.
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You do not sell until and unless your co-workers who never knew about Crypto are asking you or searching on how to buy Bitcoin or how to invest in Cryptocurrency.
Lol that's a good one! I would just add that you shoulnd't sell to your friends at that point as it may get ugly once bitcoin price goes into correction.  I did not say my target is break even. My target is to at least 10x my portfolio.
If that's your target, then I think it will take you a little bit longer than the next bull run to get that kind of return. Unless your average entry price is much lowet than the current one. What I would advise you though is not to try sell all at once at some imaginary prcie but instead sell certain percentage of portoflio at certain levesl. Well, at least that's what I am doing every bull run. Why? Many altcoins done a 50x , 100x or even 200x last bull run - I only want a 10x which won't take much in some of the coins I am holding. |
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Even after the good few days recently my portfolio is still down 17% overall and at the worst I think it was 50% down so just getting back to break even will feel big for me but need to remember I am in this to do a lot better then break even.
What is your real purpose in holding assets when your target is just to break even? Are you too afraid when you can't see your investment making a profit? all you need is patience and don't be tempted by the break-even target. Make a profit target, even if it's not big. but try to be consistent with your target. If you give up just returning your capital, it means there is no point in putting your money in your investment assets. you just waste your time to put your money to sleep without progress. I did not say my target is break even. My target is to at least 10x my portfolio. I said getting back to break even will feel big for me as i have spent all of my crypto journey up till now at a loss. |
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OP, since you don't have any bitcoin yet, I guess that you should move this topic to the altcoin board. You shouldn't expect anything much from your altcoins, and it is better that you sell them when the price pumps and quickly invest it into bitcoin. This is because it is only bitcoin that has the potential to give you good profit during the bull run.
Like others have said before, if you invest in bitcoin, you should have a price target i.e the price that bitcoin will reach before you will take profit, so that you don't get carried away with the anxiety and miss out the ATH price of bitcoin, to avoid regrets and selling your bitcoin when it hirs the bear. After the bull market, comes the bear market.
How can you say that? Bitcoin is great for those who have a decent amount of money to invest and want a 4 or 5x but for the normal person like myself we want more then that. Some altcoins will not make it to the bull run but many will and many will see much better returns then Bitcoin will over the next 18-24 months. |
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You do not sell until and unless your co-workers who never knew about Crypto are asking you or searching on how to buy Bitcoin or how to invest in Cryptocurrency.
That's the best signal out there to sell your stash and wait for the prices to calm down. This is what that actually worked for me in 2021 Bull Run when my friends asked me about Crypto.
And this thing will work for any X amount of years to come.
Thanks - this is all I am after just experience from those who have gone through bull run before. After being in the red for so long it will feel like a win just being break even again but have to tell myself that is nowhere near where I want to be I want at least a 10x from my investment. |
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Before getting into Bitcoin, you are supposed to have your plans and targets as that will guide you in your decision making. If I may ask, are you buying Bitcoin now to sell all or part of it in next bull market? Are you buying to save for the future even beyond next bull market? What percentage of your funds did you inject into Bitcoin? Is it the part that will make you panic and would want to sell to recoup? If you answer these questions correctly, you will know exactly how to manage your portfolio and when and how much of your Bitcoin to sell when you see substantial profits.
I do not own any Bitcoin yet only altcoins. I only have a small amount to invest so do not see it worth it for me investing in Bitcoin for maybe a 4 or 5x return in the bull run , I want more. I am hoping I have a good bull run with the altcoins I have and then I may look at buying a full Bitcoin at some point. |
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Next year will hopefully be the start of the bull run and it will be first for me so just wondering if anyone has any advice/tips on how avoid the temptation and not sell too early?
All I have experienced so far in Crypto is bear market and with the market showing good signs over the last few days its made me realize that I am not used to the good times and I want to have a plan in place for when the bull run returns.
Even after the good few days recently my portfolio is still down 17% overall and at the worst I think it was 50% down so just getting back to break even will feel big for me but need to remember I am in this to do a lot better then break even.
Any advice or individual plan when it comes to selling in bull run?
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I should have just bought then rather than ask the question as it went up over 45% in 3 days!!
Hopefully it comes back down again and I will buy my first few thousand - I think it will be worth holding a bag of 10,000 till the bull run as I can see this doing a 30 - 50x.
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I do not have any investment in the above but thinking about it.
86% of its supply is in circulation and only $35m market cap.
Anyone else invested or can advise if this is a good opportunity?
Have watched a few videos online many say it can 100x next bull run but even a 25x would be great and with its low market cap and most of the supply in circulation it could be possible / likely.
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Hello all, apologies for the repeated threads this is just my first bull run coming up and I want to know for sure what needs to be done when paying taxes as I have received different opinions and want to make sure I do it right when it comes to it.
My salary is £33k and I pay 20% tax so should I not being paying 20% on my capital gains tax or is it 10% ?
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2024 / 2025 (hopefully) will be my first bull run and the majority of my crypto is currently on cold storage and I am wondering if I should get some ETH ready now to pay for fees when it comes to selling or if I should wait till next year when I actually do sell - is there any difference?
I do not hold Ethereum but do have a few tokens that will require me to pay fees so wondering what is best to do have it ready now or if it doesn't matter and just wait till it actually comes to selling and pay then but obviously the price of Ethereum will be a lot higher next year then it is now so thinking is it best to buy now whilst cheaper?
Do this now, the main reason for this is not really the cost but how long it could take for your transaction to be confirmed, once the bull market starts not only a bunch of coins will be released over the ethereum network, but many people will begin to move their coins as well, so if you wait until then to send some ethereum to move your coins you will lose hours and maybe even days before that ethereum arrives to your wallet, and by the time it does you could have wasted the opportunity to sell your coins for a high price. That is a good point - I will buy $100 of ETH later today that should cover me , thanks |
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This is my first bull run coming up in the next few years and I am just wondering how tax works when will sell in UK?
Lets say for example by the time I sell I will have invested £10,000 and I want to cash out £100,000 in 2025.
£100,000 minus the £10,000 I invested would leave me with £90,000 profit.
How do I know how much tax I need to pay on that?
I read online it depends how much income I make but is that from my own job outside of crypto or do they mean income made purely from crypto?
I know we have plenty of time still until the bull run but just want to be clear in my mind so when it comes to it I understand how and when to pay tax.
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