Have 1 BTC in alts should I transfer all to BTC

[Bitinity]

First of all all newb / jr.members on this forum that claim they got 1-100 bitcoins are actualy are just spammers so you have to prove that you've got those coins.
Second is that everything depends on what you want to achieve. If you need to get some bigger profit then you may buy all those shitcoins and wait for pump. If you want to keep your money safe then just buy BTC. It have a larger cap and during all recent price changes it's correction was always not that hard that the other coins had. So if you are goind to hodl instead of speculation then buy BTC.

Mostly yes but not all, so we should not underestimate someone just because their member account's rank in this forum as it is possible to lower rank members has better investment that higher member ranks.
@OP, I think you have done the best already by spreading your money into some different coins as what is always being suggested in this industry "dont put all your eggs in single basket".
So you do not need to convert all your coins in bitcoin only.

[1714763623]

1714763623

[naufals4]

Hi all,

Looking for some advice.

Here is my predicament, I have around 1 BTC that is spread out, some in BTC some in ETH, BCH, BNB & other altcoins.

My question is, do I keep my portfolio diversified or do I trade it all in for 1 whole BTC and then build up my alts again over time.

Here's my biggest issue and I know this will probably cause some controversy and I'll have a lot of people disagree with me BUT:

I don't believe in the long term success of bitcoin

Honestly, in my opinion, the advantage is has right now is that it's a first mover, the first Crypto and has HUGE brand awareness.

Do I believe BTC will ever reach zero or be worthless? No, do I think it can reach £100k per coin or more, potentially YES but I believe that the reasons it will get there are all wrong. I believe it will get there purely on it's reputation, brand awareness and it being the first and biggest crypto. Utility wise, I just don't think it's a strong project anymore.

There's countless coins out there that do what BTC does now but better, cheaper, faster, more secure, more utility etc etc.

I think because of the amount of money invested, it will continue to grow because of the reasons I mentioned above, because of speculation, because of FOMO and a wide range of other factors.

Obviously, I could be wrong and I think just brand awareness and being the first to market will be enough to watch Bitcoin keep climbing but if I were a gambling man and had to take a shot in the dark right now, I'd say that in 50 years time, I don't think BTC will be sat at #1 on CMC.

So what would you guys do in my situation, would I be foolish to not trade it all in for 1 BTC and then build up my alts from future savings or do I keep it diversified like I currently have.

There was a time when I was fired up about Bitcoin, everything it stood for, privacy, low fees, fast transactions how it could revolutionise the economy around the world and disrupt the banking sector and help those living in poverty and developing countries.

I still have great respect for Bitcoin, every coin or token that has followed has Satoshi and Bitcoin to thank but when I read the previous sentence, I don't believe Bitcoin actually does what it set out to do anymore, it's neither fast or cheap and it's not transforming the lives of those living in poverty. I'm just not passionate about Bitcoin and do see it as just a store of value now.

Isn't that that wrong mindset to transfer my alts all into BTC?

What should I do?

not of your statement is wrong because all of it depend on your heart will, besides that all the decisions you make must have risks. for me, I prefer to stay in the initial state of having a lot of cryptocurrency because with that most have great potential and not too much risk

[Daniel91]

Well, we all have different opinions and expactations from crypto.
From my dexperience, when bitcoin grows alt coins grows even faster but when the bitcoin fall altcoin falls even faster.
I had some funds before invested in alt coins but I decided to move everything in bitcoin in order to preserve the value of my portfolio.
This is answer based on my experience.

[ajqjjj]

Well, we all have different opinions and expactations from crypto.
From my dexperience, when bitcoin grows alt coins grows even faster but when the bitcoin fall altcoin falls even faster.
I had some funds before invested in alt coins but I decided to move everything in bitcoin in order to preserve the value of my portfolio.
This is answer based on my experience.

If you monitor the only top 10 altcoins your decision was write. But currently we have many altcoins in crypto market so I see different types of falls in Bitcoin and altcoin. If you like Bitcoin it was your own decision but you complain the altcoins many supporting peoples available in this forum. If we concentrate our own decision that will be a good movement in any transfer.

[Polar91]

I don't believe in the long term success of bitcoin


Isn't that that wrong mindset to transfer my alts all into BTC?

What should I do?

I've seen your doubt and the decision is only yours. For a friendly advice, do not to put everything in Bitcoin; put your investment to other altcoins also which you're confident that has a good future and useful even before. Though it's riskier than just putting it all in BTC, it's still better to try it than just sticking into something that you're not satisfied of.

[Rickeo]

First of all all newb / jr.members on this forum that claim they got 1-100 bitcoins are actualy are just spammers so you have to prove that you've got those coins.
Second is that everything depends on what you want to achieve. If you need to get some bigger profit then you may buy all those shitcoins and wait for pump. If you want to keep your money safe then just buy BTC. It have a larger cap and during all recent price changes it's correction was always not that hard that the other coins had. So if you are goind to hodl instead of speculation then buy BTC.

First of all, I don't have to prove anything, that's just ridiculous.

I'm not offering any product or service here, I don't think 1 BTC is even a lot of money tbh, anyone who was in from the start will have WAYYY more than 1 BTC in funds so why I'd lie over an insignificant amount of money when I gain nothing from that lie is just questionable.

Even if I was lying and this was a hypothetical question what difference does it make. It doesn't actually affect anyone here on the forum at all. Regardless, I am not lying and this 'you have to provide proof' business is just ridiculous.

Finally, this is more directed at everyone else who has replied.

I'm not asking for financial advice, I'm asking for opinions, this forum is honestly made up of the most ridiculous and uptight people that are so rigid. You could literally close down ANY topic outside of trading on this forum by saying to everyone 'this forum isn't for financial advice'.

I'm not going to bloody blame others if I make a decision and it's the wrong one, ultimately it's my choice at the end of the day and any decision I make right or wrong I can only blame myself for.

Thank you to those who have bothered to share their opinion and be friendly, I really appreciate that!

I suppose I was trying to gage the rest of the communities response and see if anyone had a thought, opinion or idea that maybe I had not thought of when coming to my conclusion / analysis.

Everyone is throwing out the same old saying's that come from traditional financial trading (Stocks/Forex) etc etc but guys this isn't traditional financial trading, literally this is a WHOLE new playing field and while some of the same rules apply (don't risk more than you want to lose) this is a unique horizon and anything could happen.

[Kiweikoo]

Well, we all have different opinions and expactations from crypto.
From my dexperience, when bitcoin grows alt coins grows even faster but when the bitcoin fall altcoin falls even faster.
I had some funds before invested in alt coins but I decided to move everything in bitcoin in order to preserve the value of my portfolio.
This is answer based on my experience.

If you monitor the only top 10 altcoins your decision was write. But currently we have many altcoins in crypto market so I see different types of falls in Bitcoin and altcoin. If you like Bitcoin it was your own decision but you complain the altcoins many supporting peoples available in this forum. If we concentrate our own decision that will be a good movement in any transfer.

That is true. I have been witnessing the same trend of rise in the prices of Bitcoin and altcoin and the fall in the values of both the coins when the market is going into recession. This is normal for assets in crypto market. Altcoin loose quick value because where we face a loss of $600 in the value of Bitcoin lets say from $5000, a similar loss in ETH could be more than 80% in case in case it falls from $600 to 200 dollars. 

[emmybd]

If you are holding small amount of bitcoin then you should buy more. It should be 30% or 40% of your portfolio and don't need to transfer all to btc. I think you are ok with diversified.

[Ipwich]

Altcoins are now cheap, but it doesn't mean they will not rise.
Analyze first how much you can make with investing in bitcoin based on your analysis compared to how much you will loss in altcoins if you transfer it in bitcoin. For me, it's quite complicated, it needs proper analysis and if I'm in your position, I would not touch it, just wait until they will start pumping again.

[bummm]

Well, we all have different opinions and expactations from crypto.
From my dexperience, when bitcoin grows alt coins grows even faster but when the bitcoin fall altcoin falls even faster.
I had some funds before invested in alt coins but I decided to move everything in bitcoin in order to preserve the value of my portfolio.
This is answer based on my experience.

Then, an alternative decision can be taken. You can exchange half of the altcoins that seem to be not as profitable as you would like to see them to BTC, and the other half will be in Bitcoin.

[mace15]

If you are holding small amount of bitcoin then you should buy more. It should be 30% or 40% of your portfolio and don't need to transfer all to btc. I think you are ok with diversified.

Diversified investment is good to earn profit from other coin. If you found another crypto to invest aside from btc which also offer good project then it is good to invest. Although Btc as the top crypto diversifying investment is really recommended as long you know the project.

[Pattart]

If you are holding small amount of bitcoin then you should buy more. It should be 30% or 40% of your portfolio and don't need to transfer all to btc. I think you are ok with diversified.

Diversified investment is good to earn profit from other coin. If you found another crypto to invest aside from btc which also offer good project then it is good to invest. Although Btc as the top crypto diversifying investment is really recommended as long you know the project.

Yeah it's worth a try, many people recommend diversifying. and it was far more profitable and safer they said. still use bitcoin as the
main investment dude, and you can allocate a few percent to the altcoin, I use that strategy anyway.

[rijaljun]

-snip-
What should I do?

I think you don't need to transfer all to BTC for long-term investment purpose but there will be a time for you to convert all of your altcoins  to BTC in order to save your investment capital, to save your funds.

[harizen]

No need for advice. You already made your analyzation and not just a simple guess.

What if I say go all-in BTC, will you follow? Trust your own judgment rather than rely on other people's opinions. Or think of more possible outcomes so that you can each set a strategy.

That's your money after all.

[el kaka22]

I don't think that is a wise move. Remember the last time we were in 20 thousand dollar levels? Ethereum went to 1500 dollars and all other coins went up like that as well.

Yeah, when the first time bitcoin goes up all other coins drop in bitcoin value but they mostly stay around the same levels in dollar value because of the increase in bitcoin however when there is enough time given they go back to their bitcoin levels whereas the bitcoin is still high so they worth more in dollar value. That is why I am keeping a lot of bitcoin myself but I am not changing my altcoins to bitcoin, I am going to keep them until all this bull is over and I am going to keep having that for a long time. I am not planning on touching any of my coins until I really need them for something personal.

[7788bitcoin]

I still have great respect for Bitcoin, every coin or token that has followed has Satoshi and Bitcoin to thank but when I read the previous sentence, I don't believe Bitcoin actually does what it set out to do anymore, it's neither fast or cheap and it's not transforming the lives of those living in poverty. I'm just not passionate about Bitcoin and do see it as just a store of value now.

Bitcoin is not about transforming lives of people who are living in poverty and it is never meant to be, it is about freedom from financial regulations where you are not able to purchase goods freely with your own money and to overcome hurdles when it comes to international trade, it is far cheaper than traditional banking system when it comes to international transactions and trade, when it comes to personal choice on where to invest the decision is yours on what you think will be biggest game changer in the industry in the long term.

[Hamphser]

Isn't that that wrong mindset to transfer my alts all into BTC?

What should I do?

First rule on investment world

-Dont invest on the amount that you cant afford to lose (Ex. Life savings) which you have done already
yet it is really very risky to diversify your savings with crypto investments yet anytime this thing can wreck you down.

About on your question and insights.Nothing on this world is permanent and yes bitcoin can be possibly replaced on top spot
yet there are alts that do much more better than btc but basing on the support itself, you can really say that btc
do really have that thing no matter what which do built some confidence that this would push through future but still
its your choice if you diversify into those alts you have mentioned.

[Idrisu]

It is good you take the decisions yourself and be able to make the investment decision yourself . This market is a risky one and when I want to take any decisions I do take them myself and I hardly seck other people opinion.  Many of the altcoins has refused to grow and no one knows if there will start to grow when you convert them to bitcoin and you will have to regret.

[Thirdspace]

I don't believe in the long term success of bitcoin

~
Isn't that that wrong mindset to transfer my alts all into BTC?

What should I do?

it seems you already have decided what you are going to do? just need some sort of approvals?
based on your post, you are quite comfortable holding onto your altcoins, so... do what your heart tells you
if you don't believe in bitcoin's sustainability, you should keep coins that have direct fiat trade pairs
because when bitcoin no longer exists, any (alt)coin which relies too much on btc will decrease (if not crashed) in value

[maxreish]

The price of bitcoin from the past months was at $3,000. If you have that doubt with altcoins, it's better if you have sell all of your altcoins back then and then bought 1 bitcoin when it was at the lowest price. See the price of btc now,  almost $6k . So if you transferred your altcoin into bitcoin, you had 50% profits by now. Anyway, at the end of the day it will be your own decision after all.