Buy only bitcoin or take chances in altcoin casino?

[bbc.reporter]

A simple poll to know if every person in this speculation subforum has a similar attitude in trading and investment as they had on 2016 and 2017.



The bullish sentiment is back, and traders have been placing their allocations on their favorite blockchain projects. The question on most investor’s minds is which coin will have the biggest payoff? Is it Bitcoin, the largest coin by market cap, or smaller cap Altcoins?

Read in full https://bitcoinist.com/bitcoin-vs-altcoins-which-will-make-you-more-money-in-2020/

[jackg]

I'd suggest diversification at least among the major coins.

If for example in a few years, 5btc becomes worth 1 eth them you'll still have 1 eth from now...

A lot of this depends on how much risk you're willing to take and also how likely you think bitcoin is to come out on top over the years (not just in 2020).

[ralle14]

With the recent gains from some of the altcoins i'll take my chances on it and I agree with jackg the profit you can potentially gain from these altcoins still depends on how much you're willing to split your budget.

On the other side taking Bitcoin reduces the possibility of losing too much since big price changes doesn't happen too often with Bitcoin. 

If i'm going to be more specific on my split it would be 80-20 I still think Bitcoin would hold its spot for some years.

[Wexnident]

I wanted to choose both tbh. Spread my investment across various altcoins, the top 10 if possible. I'd have a larger part of my investment to BTC ofc, that's why I chose the first one. Spreading my investment towards altcoins such as XRP, BCH, etc seems like a good choice especially with the movements of altcoins recently.

Still, choosing the most profitable side, most would probably go for altcoins, especially since their rises have been quite high when compared to BTC. Just that, a lot are still waiting with regards to what is going to happen to BTC once the halving approaches, and is the result of the current uptrend.

[romeojasmin13]

Bitcoin is too volatile. So spread investment across various altcoins is a good idea.

[OrangeII]

I suggest focusing on bitcoin. however, that does not mean all of your assets are bitcoin. I also suggest to have top altcoin, for reasons in the future, maybe some top altcoin will be worth 1 bitcoin, it can be very good to cover the risk of loss. however, many people predict the price of bitcoin will rise, but this will affect ethereum prices.

[hirngespenst]

Bitcoin is the best choice for crypto investment z no doubt. But all altcoins are not shit, there are many altcoins that are blessing for the crypto world, Bitcoin can't do everything alone, Bitcoin has many lacks! That's why we need potential altcoins like Ethereum, Litecoin, Chainlink, Cosmos, Stellar and so on! So, buy Bitcoin and split your money into various potential altcoins.

[michellee]

Buy both bitcoin and altcoin would be a great option if you can choose the altcoin to buy. But if you don't know how to select the altcoin then buy bitcoin will be the best choice you can do right now. But I suggest you learn about analyzing the altcoin movement or you can buy the altcoin which has a good position in the market. My suggestion will be the altcoin that already in the top 10 or top 20 coins at CMC so you don't just have an investment in bitcoin, but you also have the other investment in an altcoin. Ethereum will be the best altcoin that you can have, and I am sure that there are many other altcoins that you can buy, but of course, you need to analyze one by one of the altcoin.

[Oasisman]

For me, I'd rather put like 50-60% in Bitcoin and diversify the remaining percentage from my portfolio. Since, I am not too knowledgeable in terms of investing through different projects but I'd rather put it on top alts in the market like ETH and XRP. Just making sure I'll get good profit, than taking a lot of risks from a pump and dump kind of coin/token.

[exstasie]

In terms of long term investment, I only hold BTC.

There's nothing more profitable than trading altcoins during alt season though. I don't want to jinx it, but there might be one beginning now. After 2 years of avoiding it, the altcoin market is finally starting to look interesting again.

[hugeblack]

There is a difference between the altcoins and bumping/dumping models, most of the altcoins (which have acquired a sufficient market capacity) tend to be stable and therefore no much change will occur as they tend to behave the same effect as bitcoin ( will not make much profiles over BTC/X Alcoin pair)

Pumping and dumping models may be profitable in the short term (less than a week), but they have enough risks to make them a more dangerous investment than gambling.

[Latviand]

Bitcoin is too volatile. So spread investment across various altcoins is a good idea.

The market value behavior of most cryptos are almost the same, there are just  some cryptos AT THIS MOMENT that are showing green marks such as XRP. Investing to other altcoins would be the same as investing to Bitcoin at this moment, because both has their own risks.

Buy both bitcoin and altcoin would be a great option if you can choose the altcoin to buy. But if you don't know how to select the altcoin then buy bitcoin will be the best choice you can do right now. But I suggest you learn about analyzing the altcoin movement or you can buy the altcoin which has a good position in the market. My suggestion will be the altcoin that already in the top 10 or top 20 coins at CMC so you don't just have an investment in bitcoin, but you also have the other investment in an altcoin. Ethereum will be the best altcoin that you can have, and I am sure that there are many other altcoins that you can buy, but of course, you need to analyze one by one of the altcoin.

But this would make the investor use larger amount of money to invest and given that not all cryptos would be profitable , not to mention that the price are independent from each other, I think choosing only few cryptos would be good especially if the strategy would be paired with deep market analysis.

[sunsilk]

Bitcoin is more of a safe haven so whether you will diversify with the altcoins, you can still recover if ever the coin you choose becomes part of your loss. I'm still in the recovery process with my alts and learned the lesson there but I think, I'll determine how long I'll be with alts.

Still, at the end of it, I'll remain bullish and long term for bitcoin but I'm ok to turn in for some alts just for playing(trading) it.

[gentlemand]

I have little doubt that if you timed it right you'll finish up with much to vastly more if you dipped your phallus into alts but good luck getting the timing and choices right with that.

[carlisle1]

Bitcoin is the best choice for crypto investment z no doubt. But all altcoins are not shit, there are many altcoins that are blessing for the crypto world, Bitcoin can't do everything alone, Bitcoin has many lacks! That's why we need potential altcoins like Ethereum, Litecoin, Chainlink, Cosmos, Stellar and so on! So, buy Bitcoin and split your money into various potential altcoins.

Diversification mate,that is what we need to do specially if you are not that ready to take a long term investment,because we know Bitcoin and how long it can grow not like altcoins that may pump by chance because of whales and those manipulative people here in crypto so either Full bitcoin or diversify the best thing is our readiness and willingness.

In terms of long term investment, I only hold BTC.

There's nothing more profitable than trading altcoins during alt season though. I don't want to jinx it, but there might be one beginning now. After 2 years of avoiding it, the altcoin market is finally starting to look interesting again.

I also hold Bitcoin for long term but also i have other altcoins that i trust,like ethereum and Neo that i can hold for long with Bitcoin.

[imstillthebest]

when i read the title i thought your refering to betting on casino but i guess i was wrong because you mean to say is investing on altcoin only ?  . for me i decided to just go with my favorite coin bitcoin  . pump or dump , im always faithful with my btc's  . i dont buy altcoins but i already have some alts left on my wallet . these alts are old enough  ( 2 years i think  ) i got them from some giveaway but thier value is still tiny  . im not expecting too much of them but why not  ?  i already have them so i will just see if how can they react on the current situation

[exstasie]

I have little doubt that if you timed it right you'll finish up with much to vastly more if you dipped your phallus into alts but good luck getting the timing and choices right with that.

The last two years have been pretty brutal for altcoin investors. There have been countless losers created over that time. But if you managed to avoid the altcoin market during 2018-2019 and began building positions in 2020, I'd say the odds of increasing your BTC stash are very good.

I can't find the quote now, but Tom Lee once made an astute observation about BTC. He pointed out the vast majority of its gains are realized in a very short period of time, and the rest of time is spent ranging or slightly declining. The altcoin market essentially operates the same exact way, but with much bigger % gains and an even more limited window of time.

I need to see another monthly close to say with full confidence, but some monthly charts are reminiscent of Q1 2017, before the last altcoin bubble exploded.

[gentlemand]

I can't find the quote now, but Tom Lee once made an astute observation about BTC. He pointed out the vast majority of its gains are realized in a very short period of time, and the rest of time is spent ranging or slightly declining. The altcoin market essentially operates the same exact way, but with much bigger % gains and an even more limited window of time.

Indeed. I think the figure he named was 10 days in a year or something for Bitcoin. Those days are almost entirely responsible for the yearly gain and if you miss them then you'll finish up in the red.

The risk with alts is the time you enter and the time you leave. I get the feeling people arriving now, or in the recent past will feel like geniuses and continue feeling that way as it shits itself to pieces again in year or two leaving them back where they started or worse.

[carlfebz2]

Bitcoin is more of a safe haven so whether you will diversify with the altcoins, you can still recover if ever the coin you choose becomes part of your loss. I'm still in the recovery process with my alts and learned the lesson there but I think, I'll determine how long I'll be with alts.

Still, at the end of it, I'll remain bullish and long term for bitcoin but I'm ok to turn in for some alts just for playing(trading) it.

Its not bad to always have this kind of consideration if we do talk about alternatives. Diversifying is always been a good option yet this do lessen out the
risk on getting wrecked 100% yet we know we do still have the chance on recovery on other coins we've putted on.

The thing or concern here is that you should target those good or top rank ones rather than considering on putting a shot on low cap/priced coins
hoping for some whale pump.This isnt ideal and also riskier.

Overall, Bitcoin would be the heavily favorite when it comes to long term aspects.

[exstasie]

The risk with alts is the time you enter and the time you leave. I get the feeling people arriving now, or in the recent past will feel like geniuses and continue feeling that way as it shits itself to pieces again in year or two leaving them back where they started or worse.

Market psychology is a bitch. At the top, everyone is greedy and thinking "new paradigm" and refusing to sell. Then the rug gets pulled out. With BTC, refusing to take profit in that situation is okay because the upside is virtually unlimited, and the biggest risk (IMO) is losing BTC, not losing unrealized fiat profits.

With altcoins, the issue is much simpler. The goal is to increase your BTC holdings, or at least it should be. Valuing altcoins in USD terms will fuck up your mindset badly, because it will lead to the above "new paradigm" mindset, which usually leads to bagholding shitcoins. Unless there is a compelling "flippening" event, this is the safest trading psychology.

Experienced altcoin traders mostly trade ALT/BTC charts and their risk management perspective is "always be taking profit, always avoid bagholding." Altcoin traders should be ecstatic at 2x or 5x or 10x gains, and they should be consistently banking profit every step of the way. Most people get greedy and let things ride instead. That's just market psychology in a nutshell.