Is there any reason to day trade anything other than bitcoin?

[BlackPanda]

Bitcoin is essentially the most interesting crypto, so many people trade Bitcoin.
With so many platforms that support Bitcoin, it is also a plus and Bitcoin is also used as a pair of trades that exist on each exchange.
so in my opinion that Bitcoin has a lot of facilities so Bitcoin is much easier to trade than other coins.

[1714211931]

1714211931

[1714211931]

1714211931

[TopT3ns]

Maybe my only reason is day trading with bitcoin usually take longer time because bitcoin price move slowly, even it is fast but not much spread. If in alt, if that altcoin have a lot of volume trading, it can mov with spread that can we used to take profit from it. So it is fit for daily trading.

[DeathProxy]

Day trading other altcoin is also good. Altcoin rise faster rhan bitcoin and can give good profit in no time.  Just that altcoin are volatile and one need to be careful while trading them do as not to get burnt

[BigTeeths]

Yes, because there's  like Eth or eos that  has a lot of user that isi very actively traded in the market. Eth is always the go to when investors want to participate in ICo so if there's a huge oppotunity in an ICO, there's a lot of ETh that is going to be bought. And like Eos and tron, they are very popular in gambling.

[maxreish]

Oh well, I have been short trading with ADA and with some other altcoins. Basically, it is possible to daytrade other than bitcoin though i gained just small amount of profits from them. But sometimes, some of my altcoins were really pumped doubled and tripled from my entry price. Day trading can also be beneficial. But to tell you honestly, I am selecting wisely what coins should i day trade.

[MFahad]

Yeah, it is possible in day trade, You could see a huge number of altcoins are here and i think they are best for day trading wise, If you know about them very well. Information wise you could do in trading then it will not matter that you are doing day trading or other than.

[shesheboy]

imo bitcoin is actually a bad medium for doing day trade or  trading  due to its higher value   . you can only buy smaller amounts because its expensive and you can only earn small amounts of profit because you buy them at a high price and whats worst is that you can loose big when the value dumps  . imo bitcoin is only good for a currency use ( ex. for buying , paying )   . while altcoins on the other hand are the one that is suitable for  trading purposes because they are smaller/lighter  . they are inexpensive  , you can buy them anytime of day   . you wont regret if you loose because you will only loose small .

[Faxmate]

Yeah, it is possible in day trade, You could see a huge number of altcoins are here and i think they are best for day trading wise, If you know about them very well. Information wise you could do in trading then it will not matter that you are doing day trading or other than.

IF you are talking about only the possibility then yeah it is possible but if you are asking about its advantages and disadvantages then I would like to say it is not good to trade with other coin than bitcoin because I spent 3 years with crypto currency but I did not found anyone making profit from day trade with anyone other altcoins than bitcoin.

[akram143]

The only thing is the situation and his needs will decide the person to who make his journey as a long-term or the short-term otherwise everything will be profitable in this field it depends and everyone situation and the difficulties in his life.

[upsidedown75]

Maybe my only reason is day trading with bitcoin usually take longer time because bitcoin price move slowly, even it is fast but not much spread. If in alt, if that altcoin have a lot of volume trading, it can mov with spread that can we used to take profit from it. So it is fit for daily trading.

I mostly depend on Bitcoin because that is the only coin that you can use your technical analysis to predict its price accurately and any trade you go into without basing it on technical analysis will just be a guess work.

Don’t get me wrong, ETH and LTC are okay and they are performing well in their own space and also meeting up to the reason why they were establish but it is not so easy to really analyze them and also, the volatility of a coin is what can make one to have a huge profit on one’s investment which these two coins are not as volatile as much as BTC is, but all still depends on the one that makes the trader more comfortable.

[Taki]

Agreed with OP. Bitcoin has the most high changing of price and logic says me that it's trade can be more profitable. With other coins you'll need to wait long for making of some serious profit or to be satisfied with small daily profit.

[Ezenwanyi1]

You may not have reasons to trade other altcoins but some of us have reasons not to trade only bitcoin , reasons such as paucity of funds etc.
If I don't have $4k+ to buy bitcoin ,then the only alternative is trading other altcoins.
Again , it will not make logical sense for one who has the money for bitcoin to buy only one ....the more quantity the better the profit.

[omonuyak]

Day traders only take the advantage of little changes in pricing to make money from the market and it can be done every minute or hour.  Since other coins such as ripple, litecoin and ethereum provide this trading opportunity often I think we can trade them in the place of bitcoin.

[Bonsaiav]

Of course there is. Rising crypto prices are times that are fun for everyone, including you. You will feel happy when you see the crypto price that you hold increases in value. Or maybe, you will smile with satisfaction when the crypto value you are holding printed in an amazing nominal on the market cap.

Obviously some alts can have significantly bigger gains than bitcoin when it comes to long term and bull runs, the last bull run from 6k to 10k for example, sure bitcoin was strong, almost a 2x but some of the top alt coins did more than a 2x even 3x. However that's only long term.

However, wait a minute. Don't be complacent with that value because everything is just pseudo and ultimately it must re-take root in the main crypto, which is bitcoin.

It's also much easier to follow bitcoin because, well, the whole market follows bitcoin. Bitcoin dictates where the market goes.

Because, bitcoin's an indicator and a major pioneer for the growth and existence of all scattered cryptocurrency. Therefore, most crypto analysts use bitcoin more as a comparison material in discussing various forms of investment that exist today, and the topic of bitcoin, coincidence's one of the investments chosen by investors.

[rodel caling]

I use to trade altcoin for short term and long term in my day trade i choose from the top altcoins to buy for my long term i buy cheaper altcoins and i keep it until they can worthly use in the market to tror convert it imto bitcoin or usd. I think depends the strategy of each traders how to gain as the traders.

[BeGoods]

Alts are more volatile than BTC which can work both to your advantage and to your disadvantage. I typically do not trade with very low-volume coins or very new coins as trading such coins and tokens is more risky than trading older and higher-volume coins IMO, but there's also more profit to potentially be had in them. BTC also does not seem to be completely leading the way out of the $3000s doldrums, with alts like LTC seeing signfiicantly more percentage gains in the last month and week.

Of course there are many other choices, bitcoin is not the only crypto on the market. and you're right, in fact the altcoin price is much more volatile than bitcoin, and from that then trading will be much more challenging and more profitabel in altcoin right?

[Aivaryamal]

Bitcoin used to be the main crypto currency, but now there are more and more projects that already have an excellent product in demand, a strong community and can give growth more than 100 times and we need to be paid attention it

[Mastercon]

Its all depends on the amount you're going to spend for trade. I have some bad and good experience with day trade. I deposit low amount on day trade and i gain nothing except loosing my money. A 100$ trade would be good. More your invest more than chances you gain to get profit. But the luck not always work.

[bonker]

Some altcoins have huge gain in very short term so people who are looking to earn more money in short term will choose altcoin and obviously they are taking huge risk as well.I agree that bitcoin is the best for day trading and we can choose any stable coin as pair and start making atleast 1% of profits per day if we can pick the right time to buy and sell cryptos.

[futile-resistance]

imo bitcoin is actually a bad medium for doing day trade or  trading  due to its higher value   . you can only buy smaller amounts because its expensive and you can only earn small amounts of profit because you buy them at a high price and whats worst is that you can loose big when the value dumps  . imo bitcoin is only good for a currency use ( ex. for buying , paying )   . while altcoins on the other hand are the one that is suitable for  trading purposes because they are smaller/lighter  . they are inexpensive  , you can buy them anytime of day   . you wont regret if you loose because you will only loose small .

That is why as a pro trader, it is every paramount for them always make sure that their TA is very close to them for them to quickly read and see the direction of BTC price. Bitcoin is still the easiest coin to predict its price movement using technical analysis than other altcoins, provided the entry point is very good.

On the other hand, trading altcoins is not much of a good choice, an altcoins is only good to be traded at its early stage when it’s still new and fresh, buyers tend to lose interest in them the moment another altcoins comes out to compete against them and you know you need lots of price fluctuation to be able to trade successfully, which I think BTC is still the most volatile.