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

[okala]

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 more risky than every other form of trading and because of this I will prefer bitcoin to other coins because of the fluctuations in pricing.  Bitcoin is a bit more stable and highly predictable compared to other coins. Many of those coins can be manipulated by pump and dump group.

[1715181134]

1715181134

[zhekinsp]

Stop day trading with bitcoin which is the thing causes too much price fluctuations and disturb the long term investors.Day trading can be quite profitable with crypto currencies in short term but you keep buying and selling the coins for a while you will have nothing substantial profits in long term so be a investor and let live the bitcoin longer by holding it.You still have lot of other crypto currencies go and day trade with it and make some money.

[TheUltraElite]

Day trading is more risky than every other form of trading and because of this I will prefer bitcoin to other coins because of the fluctuations in pricing.  Bitcoin is a bit more stable and highly predictable compared to other coins.

Bitcoin being more stable is the one that you can take advantage of being less risky on a short term. You can simply set sell orders in the bull market and then buyback coins at lower prices in the bear market - like at the time of writing this post bitcoin is around 6.5k USD and this is good time to buy. THough I have a feeling that price might drop to 5k USD ish soon if panic selling/dumping continues.

Many of those coins can be manipulated by pump and dump group.

If you follow any such group you can actually take advantage of the opposite side trade. But its risky and not recommended.

[gabmen]

Stop day trading with bitcoin which is the thing causes too much price fluctuations and disturb the long term investors.Day trading can be quite profitable with crypto currencies in short term but you keep buying and selling the coins for a while you will have nothing substantial profits in long term so be a investor and let live the bitcoin longer by holding it.You still have lot of other crypto currencies go and day trade with it and make some money.

Well if people are making money with bitcoin's fluctuations then you basically can't tell them to stop. Fluctiations can be taken advantage of when you day trade that even bear markets can produce decent profit.

[lablab03]

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.

yes maybe holding is a waste of time but converting into altcoin as well for me is not really safe. Wherin in my opinion even bitcoin always suffering because of the volatility i believe there's still a huge gain after .than altcoin.  And indeed there is a huge difference between alt and btc when it comes gaining profits.  , which is  altcoin  so stagnant than bitcoin.  And bitcoin always showing potential after. 
So i think much better to invest or trade and etc in bitcoin.  

[jlong187]

Of course it is, every other cryptocurrency around the stage is perspective to have this volatility that bitcooin has, so you basically can have your profit from all the different cryptocurrencies around.

[TheUltraElite]

Well if people are making money with bitcoin's fluctuations then you basically can't tell them to stop. Fluctiations can be taken advantage of when you day trade that even bear markets can produce decent profit.

I dont see anything other than holding or buying the dip when you enter a bearish trend. Its the time to stock up and get ready for a bull market as people keep on making FUD comments in every social media. You can try placing order to test the resistance of the market and the market movement trend but in my opinion thats not necessary for those who are not trading professionally but as a hobby.

Of course it is, every other cryptocurrency around the stage is perspective to have this volatility that bitcooin has, so you basically can have your profit from all the different cryptocurrencies around.

Thats not totally true. If you enter altcoin trading you need to do extensive work on its history market and also the current price trend. If you can make money off trading it then its worth the risk though.

[MiXxe]

Well if people are making money with bitcoin's fluctuations then you basically can't tell them to stop. Fluctiations can be taken advantage of when you day trade that even bear markets can produce decent profit.

I dont see anything other than holding or buying the dip when you enter a bearish trend. Its the time to stock up and get ready for a bull market as people keep on making FUD comments in every social media. You can try placing order to test the resistance of the market and the market movement trend but in my opinion thats not necessary for those who are not trading professionally but as a hobby.

Of course it is, every other cryptocurrency around the stage is perspective to have this volatility that bitcooin has, so you basically can have your profit from all the different cryptocurrencies around.

Thats not totally true. If you enter altcoin trading you need to do extensive work on its history market and also the current price trend. If you can make money off trading it then its worth the risk though.

I believe there is a way like what's going on now that some people are chasing to make profits for a marginal trading or some switch in forex trading temporarily. The other way around is to keep on your strategy buy in dips and hold for a long term.

[TheUltraElite]

I believe there is a way like what's going on now that some people are chasing to make profits for a marginal trading or some switch in forex trading temporarily. 

They would need experience in forex market for that. That said some people here other than investing and trading crypto are also interested in precious metals sector and the stock market and commodity market. However that is not the topic of discussion here but altcoin trading. Alts can be bought at low price to sell at high price.

The other way around is to keep on your strategy buy in dips and hold for a long term.

People may not need to hold for long term at this time. I suspect a bull run later this year so mid term hodling is needed.

[Hobo66]

Of course it is, every other cryptocurrency around the stage is perspective to have this volatility that bitcooin has, so you basically can have your profit from all the different cryptocurrencies around.

Ys that is right that there are so many other crypto currencies, which are to much good and having good potential, although they are currently trading undervalue and therefore we can expect that if we will put our money there, we can get a very good profit from there.

[karungbitcoin]

If we have purpose to increase amount of BTC we should trade that BTC with others altcoins, this way is risky so we should be carefull and make better prediction when time to buy and how many percentace of profit that we should be take it. We can see every day some altcoin become the biggest gainer. So trade BTC with others altcoin is way to increase BTC, and do not forget use stop loss to avoid big loss from altcoin crash.

[TheUltraElite]

Ys that is right that there are so many other crypto currencies, which are to much good and having good potential, although they are currently trading undervalue and therefore we can expect that if we will put our money there, we can get a very good profit from there.

Its important to identify those undervalued coins and take your share of them while they are still at dirt cheap price or those which you missed during ICO and want to enter into now. The bearish trend is still continuing and though the 24hour market price is green there is still dumping going on in between the green waves of bitcoin ethereum and other altcoins. This is still the best time to enter the market before the bull run this year end.

We can see every day some altcoin become the biggest gainer. So trade BTC with others altcoin is way to increase BTC, and do not forget use stop loss to avoid big loss from altcoin crash.

The daily gainers and looser list is baised and pumped everyday. The organic growth occurs through the demand and supply not the whales pumping shitcoins. Hence you should be careful of sudden pumps of any never-heard-of coin.

[4xBit]

I would say it depends upon the volume of the coin.
Also, few coins follow some progressions that you can look for and execute decent trades.

[Bubblestonemax]

Its best to day trade bitcoin than any other coin. It has the biggest volume and when you make a good analysis, it moves in that direction except their is a news in the market. Always day trade bitcoin mostly

[berrygood]

Agree, basically you can't trade most altcoins, they are just pump and dump, don't fit into technical analyses. Bitcoin is also less susceptible to human factors as it is not backed by anyone.

[healthcarep]

I've definitely learned some lessons with failed trading. I think it's the hardest trading within one crypto, but a lot 'easier' if you trade from crypto to crypto. Recently I have had more success than not by doing this.

[justspare]

If we have purpose to increase amount of BTC we should trade that BTC with others altcoins, this way is risky so we should be carefull and make better prediction when time to buy and how many percentace of profit that we should be take it. We can see every day some altcoin become the biggest gainer. So trade BTC with others altcoin is way to increase BTC, and do not forget use stop loss to avoid big loss from altcoin crash.

People day trade for different reasons and some simply do not really look much into daytrading btc-fiat pair but would rather prefer to take advantage of the fluctuation with the altcoin market to increase their number of bitcoins. However, I understand what the OP is saying about day trading btc-fiat since the entire markets move accordingly with the way bitcoin moves, which is actually true, but that is in a downtrend, but we also have to understand that altcoins can move up faster sometimes to a great value compared to bitcoin.

I have seen a lot of coins that you can easily keep increasing your btc stash with without stress and for what it is worth, I have seen that when I used to day trade altcoins, I tend to see more potential in gaining much more than just daytrading bitcoin. The only difference here is that you still need to use bitcoin as an indicator most especially when it comes to it making a move downward or whatever condition it is that results to an unfavorable one for the alts, and that makes it a lot of additional work to do.

[Jeremiesaranza]

I don't see any reasons why not to daytrade ETH or LTC (margin trading) or even some altcoins on Binance. Price actions is the same

[TheUltraElite]

I would say it depends upon the volume of the coin.
Also, few coins follow some progressions that you can look for and execute decent trades.

The difficult thing is to identify those movement and take the risk to place orders. You may see a downtrend but even when you buy it might drop even more. There is also possibility that while the uptrend is ongoing, you may sell but the price keeps on rising. The key point which I am trying to highlight is that one should not become greedy during such movements. Whatever price you buy at or sell at be happy with that. Otherwise you will panic buy or panic sell.

I don't see any reasons why not to daytrade ETH or LTC (margin trading) or even some altcoins on Binance. Price actions is the same

If you have some important news that may have a good impact on the market and you already have some altcoins in holdings that you want to cash out of then its the reason. If you dont have any other coin then why bother.

[manggis97]

Everyday I checked biggest gainer and biggest loser in Coimarket cap and everyday all that listed is always Altcoin ,  that mean fluctuation of altcoin is more high than Bitcoin,  and this is chance to make more profit.  With higher potential  profit also will be higher risk and we should be already have risk management.