Will you trade Bitcoin to buy Altcoins?

[imadmirer]

Well I thank all for the suggestions. But yes, I would not keep the Altcoins for a long term investment. That is why I said that we can make use of the fluctuations / volatility of the Altcoin market. I do observe the market trends as a day trader. The thing is that buying Altcoins by selling BTC takes us to a different psychology.

I honestly feel that with correct trade we may even get back the BTC that we had initially sold. The risk is indeed visible but there is an enormous possibility of success.

I did do this with fiat currency. In fact I bought few Altcoins and regained all of my initial investment. I am now playing around with ‘free coins’ you see! When I can make this possible with fiat currency then I can certainly make it by selling BTC. In fact as I mentioned above, I can regain my BTC back over a period of consistent sharp trades. Certainly this is not impossible especially after having tasted success with in this way.

The question that however pops up is that 'is this the time to sell BTC'?

Certainly this is not the time to sell. When the market is down, selling BTC is enormous risk. This is a time to make a relatively long term investment in BTC. But when market starts getting bullish I am pretty sure that this will work out. The point is this. In every Altcoin that you invest you must make sure that you regain your initial investment. And after that you may start playing with your free coins by taking greater risks. I feel more or less this is what day trading is all about?

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[AnCapFree]

Order to be a good trader, you have to have a flexible thinking. Let's follow the market to have a good news. besides, you also need a good knowledge to transfer BTC to altcoin and vice versa.

[binghope]

If the market situation changes I will change my trading campaign. I will sell the bitcoin away and buy but altcoin depending on market conditions but now my trading plan will remain the same.

[tonyosa]

Day trading is good for short term gains. The problem with it is that there are no assurances (as you may have suggested ),prices can easily rise just as it can also easily plunge. It is a game of wits, only the stronger hands survive

[tonyosa]

Yes.If the price of Bitcoin is maximum.I will convert my holding bitcoin into the trusted altcoin.Then holding both the remaining bitcoin and altcoin for my future.If the price increase,it will good news for the holding people.We can easily convert Bitcoin into Altcoin.

It seem always better to hold more bitcoin s or tether when the market is struggling (as it currently is). A mere 10 percent drop on the price of bitcoin  will  often lead to  up-to 15-20 percent drop in the value of most altcoins

[eann014]

Why not? if you think that altcoin can give you much more profit than bitcoin then there is nothing wrong with that, selling or trade your bitcoin is your decision because that is your coin. If you think that there is a good altcoin then that is good for you. You seeing the crypto world a positive side even if the market is red all over.

[Lazada]

Yes it has to be done when we want to have altcoin. That is the thing we have to do because without doing so we will not get anything.

I usually benefit from trading Bitcoin and the results I use to buy altcoin, it is a strategy and I am very happy when I can appropriately apply the strategy.

[fillippone]

I would love to stay in the bitcoin always no matter what happens. An altcoin is always good investment but it is not the best one. I am looking forward to see my bitcoin go upwards as it has been the case always. I do have the altcoin portfolio but whenever I get the chance then I always prefer to revert back my asset to bitcoin. I know bitcoin can move lot more than the alts and that is the reason I get most of the profits from it.

While I do agree with your reasoning, I find it funny because it conflicts a little bit with your support to a very unknown altcoin in in the signature.
Ah,
I I know the feeeling because I openly plead guilty in trying to get merit (I need 10!) to do the exact same thing with another alt!

F1

[big_bankir]

I agree, if the market provides an additional opportunity to earn, this chance should be used. But it is necessary to carefully evaluate the risks.

[leowonderful]

I keep more than half of my cryptocurrency stash in Bitcoin, but I invest the rest of my coins into alts for the medium and short term because of the aforementioned risk in altcoins as everyone else has already said. I'm okay with losing what I invest, and though I'm actually up quite a bit in my trades (I do only a few each week), I don't put all my eggs in one basket and always try to spread out the funds I have allocated for investment. I'd sleep easy at night even if I lost everything in alts and I don't make a thousand trades and get stressed about it- that's my main goal with alts, to potentially make some profit but don't worry too much if it goes in the red- if that happens, I just go see how much money I have to play with and potentially put some more in to buy the dip.

[intoy_victor]

Of course yes from bitcoin to other coins or altcoin is kind of risky trading you should be sure what coin has a possibility to increase when you trade. Because we have many crypto coin right now. Be wise and sure to choose.

[Traslavin]

Yes.If the price of Bitcoin is maximum.I will convert my holding bitcoin into the trusted altcoin.Then holding both the remaining bitcoin and altcoin for my future.If the price increase,it will good news for the holding people.We can easily convert Bitcoin into Altcoin.

It seem always better to hold more bitcoin s or tether when the market is struggling (as it currently is). A mere 10 percent drop on the price of bitcoin  will  often lead to  up-to 15-20 percent drop in the value of most altcoins

I would be preferable to keep on touch on my bitcoin thatn trading it and convert it into altcoin. Though yes, all kinds of cryptocurrencies has it's own value and prices but I'd stilk believe to high possibility of bitcoin that it could recover from it's downfall maybe not now but hopefully by next month. After all what happened I always set a positive outlook in my mind

[BeGoods]

If the market situation changes I will change my trading campaign. I will sell the bitcoin away and buy but altcoin depending on market conditions but now my trading plan will remain the same.

What market conditions do you mean? we know that most altcoin markets are also affected by bitcoin markets right?
I myself also do altcoin trading, but that does not mean all my assets are on altcoin, I also keep backups of funds in bitcoin and fiat,.

[dekcutbusu33]

You are thinking of diversifying your portfolio. So you have to sell some Bitcoin to buy Altcoin. As of your strategy holds more Altcoin than Bitcoin. Bitcoin prices are currently still the highest in the market and you believe that you will have more profits in the future if you will invest your money in Altcoin quality so every time you have Bitcoin.

[Thodin]

I was looking at the possibility of investing in several Altcoins as part of my trading by selling off Bitcoins. I do feel that with proper planning and execution, the profits that could be reaped through these Altcoins by day trading in a week would be far superior to that of Bitcoin.

It is true I am talking in terms of a short term gain. BTC is certainly a long term investment but what about the short term gains? As an example, even if I invest in 1000 coins of IOTA or 10000 coins of NEM, I am assured of greater volatility in the market for these coins compared to that of BTC. If NEM makes a high on a particular day even by 0.05$ USD, I would make 0.05x10000 = 500$ USD in a day if I sell all my coins at that price.

Of course, trading does involve many other practical factors which make things not as simply as I write here. But being a pro I can simplify the complexity and say that it is certainly possible to make it so.

But will this not be a way to make decent income every day? When you invest in cryptocurrency, it is a need for one to continually observe the market trends. When one is able to understand the intricacies of the market then it is better that he takes up (day) trading.

After all it is important we make money on a regular basis apart from the long term investment isn’t it so?

Thank you for this brief explanation of your strategy. I was thinking about investing in several altcoins in order to make some small, short-term profit. Glad to see that others think the same. I recently sold a bit of BTC and bought EOS. Hope it is a good investment.

[Coinsher]

I will not trade my bitcoins just to buy altcoins because there is a possiblity that the price will rise again in the coming days. I will only trade a small amount of it and I will invest it in the altcoins because so many coins now are dropping and it will be the right time to do it.

[piterpie]

Unless you are a very experienced trader, I strongly suggest you not to do that.
Altcoins pose substantial risks, even in day trading: subpar exchanges, vulnerabilities of all sorts, poor liquidity that can damage your profits.
Greed is good, but I think you can fulfill it with bitcoin.
My two cents,
F1

Investing in bitcoin is very difficult to earn the profit, so many altcoins have just started and the price is very cheap. I think altcoin investment is the best strategy

[CryptoCoinArbitrage]

During this bearish market  BTC  dominated over altcoins as they decreased more than BTC. For example ETH was 11% of BTC price before the dip and now is on 7.1 % of it. So, trading altcoins instead of holding BTC during this period could be profitable only in case of professional daily trading which could offset the loss holding  altcoins  versus holding Bitcoin.  IT was , and still  it is a risky business to sell BTC for alts. in this shrinking market.

[Karmakid]

I was looking at the possibility of investing in several Altcoins as part of my trading by selling off Bitcoins. I do feel that with proper planning and execution, the profits that could be reaped through these Altcoins by day trading in a week would be far superior to that of Bitcoin.

It is true I am talking in terms of a short term gain. BTC is certainly a long term investment but what about the short term gains? As an example, even if I invest in 1000 coins of IOTA or 10000 coins of NEM, I am assured of greater volatility in the market for these coins compared to that of BTC. If NEM makes a high on a particular day even by 0.05$ USD, I would make 0.05x10000 = 500$ USD in a day if I sell all my coins at that price.

Of course, trading does involve many other practical factors which make things not as simply as I write here. But being a pro I can simplify the complexity and say that it is certainly possible to make it so.

But will this not be a way to make decent income every day? When you invest in cryptocurrency, it is a need for one to continually observe the market trends. When one is able to understand the intricacies of the market then it is better that he takes up (day) trading.

After all it is important we make money on a regular basis apart from the long term investment isn’t it so?

As for me, both are profitable so I would still keep my bitcoin and just try to find ways to invest in a good altcoin. Bitcoin is still good for a long term investment so if I would only have that choice, I would prefer to trade my altcoins for bitcoin because I gind bitcoin more profitable than altcoins.

[Tory-Tory]

After all it is important we make money on a regular basis apart from the long term investment isn’t it so?

And if someone does not know how to trade? They simply can not earn on a regular basis because the trader's skill is acquired over the years. Trading is a hard way to easy money. For them simply to learn how to find interesting assets among the altcoins and invest in them for a long time and it would be easier.