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

[Pattart]

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 ;-)

Agree because the bigger the marketcaps, the faster your order will be filled on the market and it will benefit you more faster,
thats why I always trade on coins in the top marketcap, profits are faster and certainly much safer..

[1715197438]

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[1715197438]

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[ufaiz50]

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.

For me personally the reason I day trade coins other than bitcoin is because of the profits, even though you say the entire market follows bitcoin here only the bitcoin movement is not always jumping and also sometimes has to wait long to jump, so altcoins are another alternative for me to look for jumping and profit . Although indeed are a big volume it is very decisive when day trade even though there are many trading bots, but I am not too concerned about this.

[TheUltraElite]

Agree because the bigger the marketcaps, the faster your order will be filled on the market and it will benefit you more faster,
thats why I always trade on coins in the top marketcap, profits are faster and certainly much safer..

Care to elaborate on how this works?

As far as my experience of trading goes, there is no guarantee of predictions of market unless you are doing the long term hodl game. If you are going for the top marketcap coins then the advantage is that trades will be quickly executed because their demand and supply is coming in much faster compared to other coins. But how does that make profits come fast? Profits would be individualistic depending upon what a certain trader has bought at and what they are selling at.

[Karlinz]

Trading bitcoin alone is safer but less profitable for low capital traders, the most bitcoin can do in a day sometimes is 5% and it takes a long period to get such jumps, but altcoins though riskier have the higher tendency of making more profit over time, however at all time like this when their is still some level of uncertainty in the market, it is safer to stay in Btc or fiat.

[coinplus]

The main logic is that if you trade altcoins then you can make much more money. The chances of something that is already 200+ billion dollars reaching 20 trillion dollars in marketcap is very low however something that has 100 million dollars in marketcap reaching 20 billion in marketcap seems more doable. It is still quite difficult to achieve but don't forget ethereum was once 9 dollars (just 2 years ago) and today it is 200 dollars and saw 1500 dollars at one point. Something reaching from 9 dollars to 1500 dollars is the thing everyone is trying to achieve while trading smaller stuff.

Also altcoins believe it or not are more volatile than bitcoin, right now bitcoin seems more logical to trade but there was a point when people stopped dealing in bitcoins and not only moved to other altcoins but also started investing into ICO's to make x100 in profit.

[wayaneka]

When Bitcoin uptrend others altcoin also will going up with bigger gainer, so we have to trade altcoin as well to make more profit, in 2017 alot of coin was going up to 10 times just in amonth and this gainer bigger than Bitcoin.  And when Bitcoin overbought and will change to bearish we should be exit from the crypto market because all altcoin wll follow it and trade in others asset like stocks market. So as expert trader , we should be not only trade on crypto market but also in stocks market.

[enawati]

Trade altcoin will be promising higher profit, we can see alot of altcoin already going up to 100% -400% from the bottom but Bitcoin still stay in the bottom, in 2017 alot of altcoin the price was increase up to 50X to 100x in that year and this return is bigger than profit from BTC.

[Mpamaegbu]

 I believe the best thing as a trader is to trade that which you understand its movement, not its NAME. Everybody must not be an expert trading Bitcoin. For real, Bitcoin isn't even a best coin to give a great ROI. There are a lot of altcoins with great ROI. It's just that a lot of people trade Bitcoin because they feel it's a coin with a proven record of not being abandoned or disappearing. That's all.

[pawanjain]

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.

First of all, short term or long term doesn't make a difference. If the coin is potential then it will rise no matter what the duration is. It might fall down but at the end it will surely rise.
According to me altcoins are good for short term trading while bitcoin is good for long term since it's volatility sometimes breaks bitcoins volatility.
I have seen coins going down in price in short term as well as long term and this proves that crypto market is really unpredictable.
The best thing to do would be to diversify your investment into potential coins so that if bitcoin doesn't rise but the altcoin does, then you at least get some profit rather than nothing.

[avarnet]

certainly there is because we don't always trade bitcoin continuously, but we will definitely also look for other trading coins such as altcoin, because the altcoin is great to trade when the price of bitcoin rises or falls

[Indamuck]

Low volume coins can pay off if they have an active community with future updates.  I prefer to mostly stick with bitcoin but don't mind throwing a little bit at new projects.

Whale traders like to mess with these low cap coins because they are much easier to manipulate.  At this point it takes a lot of money to move the bitcoin price.  Why put all that effort in when they can make bigger profits with less capital?

[tarable]

My reason is because bitcoin is not good for daily trading, and altcoin is a good way to get daily income from trading because bitcoin is the best to make a long-term investment

[Question123]

My reason is because bitcoin is not good for daily trading, and altcoin is a good way to get daily income from trading because bitcoin is the best to make a long-term investment

Bitcoin is really gopd for holding in lomgterm because if that's other do last few years and now they are rich. But for now only few years only the life span of the bitcoin so I will choose more altcoins now compared to the bitcoin.  Ethereum is the best altcoins and better than bitcoin and good for longterm and we can make us rich too in the future when it become king of all cryptocoins.

[BitcoinTurk]

I prefer to trade with Bitcoin both in the long term and in the short term. Of course, I also trade in other options from time to time on a daily basis, but in a possible situation, I certainly do not neglect to convert these alternatives to Bitcoin at all costs. On the other hand, staying at Bitcoin, which I have determined as my main currency at the end of the day, is an advantage for me. Although I am on the basis of the minus the amount of the main currency in USD, I have already doubled my main money on Bitcoin basis.

[ethereumhunter]

I think it will depend on you. If you think that it's too difficult to make a profit from bitcoin, then you can choose altcoin to trade. We have many chances to earn more bitcoin from trading, and gladly, we have altcoin which can help us to earn more bitcoin. That is what I did so far if I get stuck in trading bitcoin, I move to the altcoin, and I see that the altcoin still promising for me to make a profit.

[miropp]

I think you're right. You can also combine these two methods. In the short term, you can trade bitcoins, but at the same time and buy other coins, but for a longer term.

[emmybd]

Although, the gain is small, bitcoin day trading is a safe option out there compared to other altcoins. But, you have to take chance with the amount of funds you can afford to lose, if you want to earn big profits.

[nasipadang]

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.

You will not find the profit generated from bitcoin in the short term if the funds owned are few, the fluctuations in bitcoin in these months are only 0% - 3%, that fee has not been taken from the platform. Some of my understanding is in contrast to what you are trying to ask, especially bitcoin for the short term. The market is very difficult to guess the results, especially the information that people get may be different, so the altcoin for the long term might be good for others not for you, stellar used to be the main view of traders but now slowly dimmed.

[maydna]

Although, the gain is small, bitcoin day trading is a safe option out there compared to other altcoins. But, you have to take chance with the amount of funds you can afford to lose, if you want to earn big profits.

I don't want to say that day trading with bitcoin is a safe option because if we cannot analyze where is the trend of bitcoin in the next hours or days, we could not make a profit, and it's happening with altcoins too. I think the reason is that we want to make a big profit from many coins and if we can get it from altcoin, then why we trade in bitcoin only?

We need to check every possibility in the trading, whether it's bitcoin trade or altcoin trade so we can use it to make a profit again and again. And if we can get a chance to day trade with various coins and we are making a big profit, then it will give satisfaction to us because we are making a lot of money from trading.

But maybe, some person still feels comfortable to day trade with bitcoin only because they can make a big profit in one-time trade. But for the other people, they will try with altcoin and bitcoin because they know that they can make those profit too and even it will bigger than the previous people.

[Kevin77]

I think the clearest answer is the bigger risk and reward calculation. Bitcoin is something we all trust and it has a very reliable support behind it so when it goes up it goes up. However the smaller coins do not have that type of support and not known as much as bitcoin so when you consider investing into them you are taking a bigger risk than investing into bitcoin.

Yet, when you invest into bitcoin for example the ATH is about 6.5 away from today, whereas if you invest into ETH which is not even that small you have x10 increase from here to ATH (even more) if you take smaller coins there are ones that has x50 for all time high. Basically, the lower you get the higher risk you take but higher reward you could earn as well. So it all depends on how much risk and reward are you willing to test your money with.