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

[Bardman]

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.

[Aion2n]

First. It is necessary to consider what size of deposit. After all, if a person starts trading for example with $ 1000 and he buys bitcoin for all money, he initially puts himself in a bad position. Since we all understand that having bitcoin is good, but it doesn't always make us happy with him price. Therefore, a person will be a hostage to his decision to buy only one coin.
The second. Yes, the price of altcoins depends on the price of bitcoin. But if bitcoin increases by an average of 5% of the cost, at the same time, a lot of altcoins gain 20-30% of the cost. Accordingly, the altcoins have the opportunity to earn much higher. Of course, if the price falls, this pattern plays against the altcoins, so it's important to be on the alert.
In any case, everyone chooses what is more convenient for him to trade with. Personally, I prefer almost always trade with altcoins. But I also remember to accumulate bitcoin.

[spirali]

I think a good rule of thumb is to have at least 1 full BTC before playing with alts... Also, this way you can impress nocoiners telling them "hey I have 1 bitcoin!!!"

[Lakai01]

Depends on the volume in my opinion. The higher the volume is the more a coin is suitable for day trading. But you are right, only a handful of coins in the top 10 are worth considering. Back in my day trading days I mostly traded BTC and ETH, but to be honest without any success. I simply didnt have enough time to watch the charts 24/7 ;-)

[St4yInTh3D4rk]

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.

Day trading is much easier when we do it with bitcoins because as you said there is lot of price swings happens in a day and it also happens with altcoins as well but it is hard to predict the price of altcoins than the bitcoin.If you ask me never do day trade with any coins because in long term you will end up with earned nothing.

[gilangIDR]

Depends on the volume in my opinion. The higher the volume is the more a coin is suitable for day trading. But you are right, only a handful of coins in the top 10 are worth considering. Back in my day trading days I mostly traded BTC and ETH, but to be honest without any success. I simply didnt have enough time to watch the charts 24/7 ;-)

Bitcoin and Etherum are indeed coins that have a very high level of popularity.
Therefore, the level of risk in investing in Bitcoin and Etherum will not be too large.
I also believe that coinmarketcap can be our benchmark in investing.
The higher level of popularity will be closer to us in the opportunity to success.
I will always choose Bitcoin as the main coin in day trading.

[mk4]

Not that good of a trader but here's my opinion:

Other coins and tokens has lower trade volumes and liquidity. So theoretically, they should be significantly more volatile than bitcoin.
Higher volatility = higher chances of price swings = higher chances of making(or losing) bigger amounts of money.

Thing is this though, if you do better trading bitcoin than other coins, then stick with trading bitcoin. You don't have to trade other coins/tokens because people are. At the end of the day probably no same person trades with exactly the same strategies. You do you. Just my 2 sats.

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.

Volume is still volume whether it's traded manually by people or via bots.

[enhu]

Its not just BTC that us paired with USDT, this itself is a good reason already. If you can trade your ETH to USDT while the price spikes up then that's the same thing we did with BTC/USDT. ETH however don't burst up so much these day which is why its somehow risky. But there were months that spikes can reach up to 3-5%. There are more besides ETH.

[shield132]

There are no reasons, only aims. But answer on your question is yes, your best friend is coinmarketcap and some altcoin chart websites. It's hard to suggest you coins directly because such moments when daily trade worths are needed to catch on different coins. But on long term, for example take Ripple, last three years ripple rise more than 830x, from 0.004 to 3.32 and more.

[charlotte04]

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.

Of course, it is more better to trade altcoins rather than Bitcoin because of the more high gains you could get from it. But for more secure trading then Bitcoin is the idea.

[BitHodler]

I have seen various professional traders state that it doesn't matter what asset or stock you day trade, the only thing that matters are the fluctuations, which is something I do agree with.

Overall, bots don't care what altcoin you are trading, so why would manual traders care? It's clear that when it comes to altcoins the worst coins without any idea behind them perform the best in terms of profitability.

One moment people are focusing on Litecoin for example, then directly hop over to Dash because there is more action happening, and more action means more potential profits.

Altcoins are preferred for day trading purposes because of how you can still bank on them with a small balance. If you lose a few % then so be it because you'll move to another coin to try your luck there.

[Indrawan77]

Well it's true that its more secure and more predictable when we trade bitcoin, but trading alt coin for short term is better, the price swing of alt coin is bigger than bitcoin, and usually people trade alt coin because its cheaper, and sometimes alt coin rising percentage can be bigger than bitcoin, if you have small capital you wont get much in trading bitcoin for short term

[nealdlover]

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.

That's just the rule of the past. Now things have changed. As bitcoin increases, the altcoins are not likely to increase with it. because when the bitcoin is pumped from $ 6k8 to $ 8k3, the altcoins did not rise under it. That was a bad thing, the traders were expecting this but it did not happen. So I think we can now invest in altcoins to make a profit instead of just investing in Bitcoin.

[JaekRock]

I bought an altcoin with BTC last week at 205 sats.  Sold at 399 yesterday.  Yes, there are good reasons to trade stuff other than BTC.

[Binugon]

Depends on the volume in my opinion. The higher the volume is the more a coin is suitable for day trading. But you are right, only a handful of coins in the top 10 are worth considering. Back in my day trading days I mostly traded BTC and ETH, but to be honest without any success. I simply didnt have enough time to watch the charts 24/7 ;-)

Bitcoin's phenomenal strengthening made many people interested in using Bitcoin some time ago bitcoin reached a fantastic figure, but quickly also slumped down, this also causes some people are still reluctant to collect Bitcoin

[apityeh71]

I was much loss in crypto trading and decide to hold my all coins in 2 or 3 months, and now i want to move to stock trading.  Since crypto market on bearish trend,  its hard for me to make profit.  And i thinking i have to try other asset to trade,  so i will have more experience in different kind of investment.

[hungsanh2512]

When you only buy Bitcoin and keep it in wallet, it's a waste of time and money. When Bitcoin is used to invest in Altcoin, it is reasonable and you will have more money to buy Bitcoin and increase Bitcoin value than original.

[TheUltraElite]

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.

Obviously altcoins are never going to be as big as bitcoin. Although you can hold the top ten altcoins of coinmarketcap except bitcoin cash (which is a shitcoin) and then sell them in a year or two when they are affected by bull run. In other words, trading on the altcoins will have more risk but often the reward of that risk is not adequate. Hence you must sell them for bitcoin in the midst of the green market.

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,

I just buy and sell a particular volume of btc - buy at low and sell at high. Simple way to recycle your money to make more money.

About Stellar, I cant give you any expert advice, but the basic altcoin strategy is same.

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

No comments because people have divided opinions on this.

[coinplus]

Probably higher risk and higher reward deal. If you invest into bitcoin than yeah you can make some money off it and it swings a lot however if you find some obscure coin that you really don't know what crazy stuff think it will do than you have yourself either a way to burst all your coins and lose a lot or you have yourself something that can go like x100 in couple weeks from the trades you do from the swings.

I really like bitcoin and prefer investing rather than trading however if I wanted to make a lot of money myself than I would have selected the second option to make more money from risky coins with the money I am willing to lose (or basically can afford to lose) so I have a chance at getting that into thousands instead of just couple bucks profit.

[EXtremeAEX]

It is bitcoin that is good for long term trading, and altcoins, for the daily. Altcoins are more volatile than bitcoin, they can drop -10%, and then make + 30% (in a relatively short period of time). Accordingly, with the same investment, you will definitely get a much higher profit. I started trading with bitcoin, and I traded altcoins in parallel, and within a month I realized that trading with altcoins was much more profitable.