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

[raven7886]

I have traded many altcoins so far and I can tell you it is easier to manipulate and control the altcoins with little amount of capital. I have made over a thousand dollars in the past 3 weeks just from a single coin because I knew what the range for that coin was and I just bought from bottom I can and sold from highest I can and it moved between those numbers 4 or 5 times already.

You can't really do that with bitcoin, I mean you can try and there are certainly people who have done it already but I do not think that is easy, it requires a lot of capital and a lot of power to pull off, however on altcoins it is quite easy to achieve. That's why people trade altcoins daily, because they can, everyone finds a corner of the market they feel comfortable with and play there.

The challenge I usually have with altcoins is that it is very difficult to tell when it has bottom,  especially when it is a coin you didn’t follow up on from the ICO, if it is one that you bumped into while deciding on which altcoins to invest in, it is quite very difficult, what I just do now that has been working for me is to look out for new ICOS and invest in them when they are just entering an exchange,  though I still do study the project carefully before doing that, at least I know most of ICO that enters exchanges newly will eventually get a pump in price before crashing.

[1714216942]

1714216942

[1714216942]

1714216942

[Polar91]

If you are a beginner, then you do not need to trade anything except bitcoin. Experienced traders can determine the perspective of some coins and make trades with them because some altcoins look quite interesting in the long or medium term.

There are good markets which have huge volume such as usdt and ETH which have a lot of pair in altcoins. I think it's good not to just stay in the market specially during bear market.

[Aivaryamal]

Bitcoin, although it determines the movement of the market, but not completely, you can see for yourself now, when cryptocurrencies with small capitalization during the week can give 100-200% profit!

[darewaller]

If you are a beginner, then you do not need to trade anything except bitcoin. Experienced traders can determine the perspective of some coins and make trades with them because some altcoins look quite interesting in the long or medium term.

There are good markets which have huge volume such as usdt and ETH which have a lot of pair in altcoins. I think it's good not to just stay in the market specially during bear market.

Yes, we need to stay out of  trading during bear market, but when it comes to long-term investment, bear market is the best for any investor to stay in the market and for trading, we have lots of trader that are also taking advantage of the bear market because it is this period that a lot of shitcoins  gets pumped and dumped, and some pumping can go as high as giving 1500% profit within a very short time than long-term holding would do, but I am still not against the opinion of those who does not have the mind to do so to stay out of the market completely.

Playing with shitcoins in a bear market is like gambling and a trade of luck.

[TheUltraElite]

Pumps and getting 100x-1000x possible profits is the main thing why most people do put money into these projects.Only a few do trust up on them when
it comes to longer prospects.

Again the problem with majority of crypto-enthusiasts is that they look for the easy profit and not the long term effects of a certain token in the crypto ecosystem or is that token actually having an effect in the system or it is just a money grab? Being less experienced about investing they tend to mistake these things quite largely.

As an investor if you can able to risk your money to diversify out by either investing on ICO or directly trading them when it is already on exchangers.Its worthy but be careful on what you are dealing
because not all tokens do pump.

Hate to say this but several coins end up being pumps and dumps if not continuously but transiently they are like that. We have tried to keep away from such coins and I hope the new players entering the market will do so in future too.

[playboy654]

When comes to day trade it will need a cute investment and huge profit in quick period of time so it can be given from the Bitcoin only because The Other investment will not be probably a good investment in the day trading option.

[devinks]

If you are a beginner, then you do not need to trade anything except bitcoin. Experienced traders can determine the perspective of some coins and make trades with them because some altcoins look quite interesting in the long or medium term.

There are good markets which have huge volume such as usdt and ETH which have a lot of pair in altcoins. I think it's good not to just stay in the market specially during bear market.

iit's true that besides trading Bitcoin I also trade ethereum and other atcoins because it's good enough to get results other than bitcoin and the results also promise if in my opinion

[TheUltraElite]

When comes to day trade it will need a cute investment and huge profit in quick period of time so it can be given from the Bitcoin only because The Other investment will not be probably a good investment in the day trading option.

What do you mean by "Cute" investment?

I can make out what you mean by huge profit in a quick period of time - but honestly this does not happen in reality much frequently. Trading is not that simple that you just come in make some quick huge cash and get out safely. It has a lot of hurdles and seems like you are not aware of those yet. You concept of dividing money into long term trading and day trading is good but most people perfer to do one of the two although its not uncommon to get both.

[mersal]

Serious discussion please.

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.

Short term I don't see any reason to trade anything other than bitcoin, especially knowing how little volume some of the other coins have, even top 10 alt coins, for example stellar only has 33m volume. So my question is, what's the point of trading stellar, for example, instead of bitcoin? You know that even if you are a whale and trade a lot, you wont be moving the market as much, if you have 1m and you trade stellar, that's already huge and we all know the 33m volume is probably not even real, a lot of it from bots trading.

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

my opinion is if a person doing a trading he will need the money every day on the profit also was important for him so he need to day trade every time and get the profit again and again then only the income is convenient at the end in a month so I think it depends on every person who are in different situation.

[kkaroul4]

if for my own reasons to trade other than bitcoin is to get a lot of results when I trade. so the coins that I trade besides the bitcoin are definitely altcoins because trading altcoin also promises results

[bitzizzix]

All depends on the needs and what is needed, I do two trading options and what I do by trading bitcoin for the long term and trading weekly with altcoins like Ethereum or other coins depending on the market situation.
but it doesn't depend on what is planned and what I do is when I think it's profitable I will sell it because I need a short income to meet my needs from weekly trading and bitcoin trading just to get big profits and everything returns to the market situation, strategy people vary depending on their expertise and needs.

[Malsetid]

Serious discussion please.

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.

Short term I don't see any reason to trade anything other than bitcoin, especially knowing how little volume some of the other coins have, even top 10 alt coins, for example stellar only has 33m volume. So my question is, what's the point of trading stellar, for example, instead of bitcoin? You know that even if you are a whale and trade a lot, you wont be moving the market as much, if you have 1m and you trade stellar, that's already huge and we all know the 33m volume is probably not even real, a lot of it from bots trading.

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

my opinion is if a person doing a trading he will need the money every day on the profit also was important for him so he need to day trade every time and get the profit again and again then only the income is convenient at the end in a month so I think it depends on every person who are in different situation.

There's a whole lot of reasons as why you shouldn't day trade btc. Bigger volume but less movement compared to other alts.  Before btc moved up by almost 1k yesterday, it was moving sleepily sideways. Not really the perfect situation if you're going to day trade since your entry point would almost be the same as your selling point. It would be such a waste of time.

[cryptjh]

Trading with bitcoins means shorting bitcoins, you sell your BTC into fiat or a stable coin, and then you buy back your Bitcoins when the price of bitcoins has fallen!
I did make a few small trades like that in 2018, but generally, I'm too afraid of losing a large portion of my bitcoins into a sudden overnight bull run, so I try only to trade with altcoins.

[qwertyup23]

Based from my experience, I only limit my trading to Bitcoin and ETH as they are both included at the top 5 cryptocurrencies for investing/trading. You should base your decision depending on the volume of each coin. The higher the volume, the higher the liquidity and exchange.

Like what most people mentioned, the higher the risks the better the reward. But never forget the number essential rules in trading:
Set a limit on your maximum allowable money for trading; never be greedy; have self-discipline before engaging; and never go all-out UNLESS you are confident enough (backed with technical analysis and research) that the price will increase.

When comes to day trade it will need a cute investment and huge profit in quick period of time so it can be given from the Bitcoin only because The Other investment will not be probably a good investment in the day trading option.

There are altcoins that have potential to be profitable but they are mostly focused for long-term trading. Day trading is only suitable for highly volatile coins like bitcoin since its price may skyrocket without any given notice, unlike most alternate coins.

[enhu]

There is no better pair to trade than BTC/USD, and this is the best time right now while the market is in uptrend. ETH is possible paired with USD but only because the market is also in the good condition other than that you can't just trust any other coins. And I would jsut add do it binance too.

[KennyR]

Trading with bitcoins means shorting bitcoins, you sell your BTC into fiat or a stable coin, and then you buy back your Bitcoins when the price of bitcoins has fallen!
I did make a few small trades like that in 2018, but generally, I'm too afraid of losing a large portion of my bitcoins into a sudden overnight bull run, so I try only to trade with altcoins.

That's the key process with gambling, but this won't happen throughout. At times the market fluctuation completely differs and go away from the prediction. When this happens in the day trade the loss is big and users find it hard to overcome. Even it is hard with altcoins as well, because we don't know which coin is gonna grow within specific time frame. In long term observation with long term holding can get the best out of the same.

[whirlcoin]

Serious discussion please.

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.

Short term I don't see any reason to trade anything other than bitcoin, especially knowing how little volume some of the other coins have, even top 10 alt coins, for example stellar only has 33m volume. So my question is, what's the point of trading stellar, for example, instead of bitcoin? You know that even if you are a whale and trade a lot, you wont be moving the market as much, if you have 1m and you trade stellar, that's already huge and we all know the 33m volume is probably not even real, a lot of it from bots trading.

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

my opinion is that day trader always need to be careful this is the only problem here in day trading and it is also the plus point for getting daily income every time so when the the risk always increasing the profit are also increasing so I don't think it will not been a bad idea to make money.

[dunfida]

Trading with bitcoins means shorting bitcoins, you sell your BTC into fiat or a stable coin, and then you buy back your Bitcoins when the price of bitcoins has fallen!
I did make a few small trades like that in 2018, but generally, I'm too afraid of losing a large portion of my bitcoins into a sudden overnight bull run, so I try only to trade with altcoins.

That's the key process with gambling, but this won't happen throughout. At times the market fluctuation completely differs and go away from the prediction. When this happens in the day trade the loss is big and users find it hard to overcome. Even it is hard with altcoins as well, because we don't know which coin is gonna grow within specific time frame. In long term observation with long term holding can get the best out of the same.

Neither with Bitcoin or some top altcoins would really be capable when it comes to day trade.It would really just matter on how you deal with it.Shorting and
Swing trades can really be done.Risk is high though compared on longer orders but chances on making profits is high yet these are indeed volatile since they are mostly
being traded.If you are afraid to lose money then day trade wont really be for you.

[leowonderful]

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.

[frankcastle19]

It depends on liquidity and volatility of the coin. For example, it is not bad idea to trade eth or ltc.