Do not trade Alts with BTC these days, You will just lose

[Renampun]

too high-risk trading Alts with BTC at this bullish time...
I agree with your suggestion that only recommend trading BTC/USD at the moment, as the Alts price moved late. I am currently monitoring market movements and I noticed that Altcoins is not moving fast at all following the Bitcoin price movement.

[BuNga_cute]

Everyone has different trading strategies, so feel free to make decisions according to what we believe. If anyone thinks this is a good
opportunity to buy altcoins during the Bitcoin pump, please take it at your own risk. But I choose to follow the same strategy as what
was said in the opening post, that avoid trading BTC / Alts nowadays, and focus on BTC / USD trading. Because I am not a trading
professional who has good knowledge in the world of trading, So I decided to play it safe by trading only BTC / USD.

[sambuddha]

too high-risk trading Alts with BTC at this bullish time...
I agree with your suggestion that only recommend trading BTC/USD at the moment, as the Alts price moved late. I am currently monitoring market movements and I noticed that Altcoins is not moving fast at all following the Bitcoin price movement.

Now the bitcoin dominance index is near a strong resistance line. Altcoins may start to rise soon. There is no growth without corrections) But it is important to observe risk management and always use a stop loss.

[chaser15]

If others don't want to trade alts these days, then up to them.

It's not that we should totally stop trading alts these days because of BTC dominance but we can consider that as a low priority for now. Still do some regular monitoring of our altcoins as a surprise can happen anytime.

For those alts believers, they can buy cheap coins atm so still a good time to trade.

[lienfaye]

I think traders are aware of this thing and it can be a risky move if you still decided to trade your alts. Altcoins are not moving upward like bitcoin, usually btc influence the price of alts but not this time. Some might think selling their alts to hold bitcoin but for me there's a right time to do it and not at loss. Well it is still depends on your strategy because there's always a way to make profit, base on your knowledge as a trader.

Make an analysis because you're the only one who can decide on what to do with your coins.

[Lanatsa]

I disagree, look at the past 24 hours and you can see that alts have gone up, which is the indicator that just because you think something may go down, doesn't mean that it will go down, it could very well go up as well and that is what I believe is happening right here as well.

It is not really a situation of "will alts go up or down" but more about you and I will never know what they are going to do so to react like we know is not really the correct thing to do. You should do that if you are a quick scalp day trader but when you are talking about general directions I feel that is usually not about what is going to happen in the next half an hour, it is usually at least a day or even a week which we can't possibly know. So, if you think highly of a coin and like it, ignore all the current situations and get involved, it will be eventually up one of these days anyway.

Not an assured thing but you do know that you would really have the chance for some gains.People are really fan on making up conclusions but well it cant be blamed since

it been on numerous times on where theres a pump then most likely alts doesn't come along and even possibly go in reds and when the time comes where bitcoin is on reds

they do even go deeper that's why hesitations and doubts will be there that's why someone cant just easily just step on and buy on the coin that they had faith on.

There would always be that kind of observation time or duration before making any further step.

[nelson4lov]

As much as I'd like to side with OP due to the constant drop in the last few weeks, but the best time to pick up these alts are in times like this because that's where the most money is made. The problem is that, Its difficult to actually buy at these prices as alts keep discovering new lows while bitcoin keeps climbing. This is the time people gets opportunity to make money but sadly, only very few take advantage of it but only want to on board the bandwagon when the price is at the top. Then they still come back to cry when in loss.

[tranthidung]

Do not trade Alts with BTC these days, You will just lose

I do not recommend to trade alts with btc these days otherwise you will be just loosing your money. As BTC hitting its ATH, the prices of alts are dumping even if it is BNB or any other coin whichever was stable in the last months. Just trade BTC/USD only.

Generally, bitcoin is always stronger then altcoins. Please get more details in Bitcoin pumps/ dumps and altcoin price actions (2013 - 2020). A note for you is pump or dump in that analysis is for a threshold of -5% (decrease) or +5% (increase) of bitcoin price.

FINDINGS

• In 2020, so far, there are 14 pumps and 11 dumps (based on above definitions) from bitcoin
• Bitcoin does perform stronger than altcoins.
• When bitcoin pumps, altcoins increase less than bitcoin. (look at p50)
• When bitcoin dumps, altcoins fell deeper than bitcoin. (look at p50)
• Stable coins have same directions with bitcoin (bitcoin rises, stable coins increases and vice versa)

With current price of altcoins in their trading pairs with BTC, it is good to make your entry and hold them for a while (next one month or 2 months). You can discover it with charts.

Some top altcoins

Some stable coins

Now the bitcoin dominance index is near a strong resistance line. Altcoins may start to rise soon.

Yeap, bitcoin domination and its resistance are part of the story. Remember it was biassed from shit DeFi tokens so that bitcoin might keep rising a bit more to fill the fake marketcap contributions from shit DeFi tokens. After that, bitcoin will reach its true domination resistance.

[mikeywith]

first of all no altcoin has ever been capable of performing half as good as bitcoin in long run let alone outperform it.

Assuming we are talking about "profit" and not "technical aspects" then this statement isn't accurate, it would make sense if you had the chance to buy bitcoin 10 years back vs any other coin now, but that isn't the option, it's all trading bitcoin vs another currency now.

With the relatively large market cap of bitcoin, your gains will be smaller compared to smaller currencies, obviously, the opposite is correct too, you take more risk investing in altcoins.

Some coins are 200% up against BTC this year, so they did outperform bitcoin price-wise, none of those coins can compete with bitcoin in all other aspects, their market cap combined won't get close enough to BTC's market cap, but the potential profit is uncomparable.

so calling it "diversification" is just silly. it is even more silly when you see they get dumped whenever bitcoin rises so what you call "diversification" is actually increasing your losses.

It isn't silly IMO, he makes perfect sense, in many cases, alt coins go up, BTC goes down or sideways, it isn't always BTC up and alts down, it depends, right now all eyes are on bitcoin, liquidity goes mainly to BTC, but sooner or later some of that money will find its way into the alt market, whether we like it or not, the large gains lie within the small coins, the last DeFi wave made millionaires from a coupe thousands $ of investment, sadly, most of those projects are pretty useless and some went down close to zero but that is how things actually work.

by the way it is BTC/USD not USDT, tether is also another centralized altcoin that should be avoided.

USD isn't decentralized either, most exchanges don't have a trading pair called BTC/USD, because dealing with USD directly triggers the KYC crap, unless you are fortunate enough and come from a 1st world country then most exchanges you could use will only allow you to trade BTC/USDT, BTC/TUSD or any other fiat-backed currency, I personally don't trust any of those coins and I think that none of them is 100% backed, but there is nothing to do about it if you really want to trade in an attempt to increase your BTC holding.

[adaseb]

The reason why people are buying alts is because they are very cheap these days. Look at ETHBTC, how low can it possibily go. Seems like a decent risk reward to buy some ETH at these levels. Same with LTC and XRP which are hitting record lows compared to BTC.

So people decide whether they want to sell BTC for fiat or alts. If they sell for fiat they are mostly done. But if they sell for alts like ETHBTC and then that alt goes 3x, and they can sell that alt for fiat and get 3x as much. Probably not a good example but you get the general idea.

However we have been waiting "years" for alt season like we had in early 2018, who knows when the right time will be?

[yohananaomi]

Do not trade Alts with BTC these days, You will just lose

I do not recommend to trade alts with btc these days otherwise you will be just loosing your money. As BTC hitting its ATH, the prices of alts are dumping even if it is BNB or any other coin whichever was stable in the last months. Just trade BTC/USD only.

altcoins are not always always together to increase at times like now that bitcoin is entering its peak period. but experience says that somehow altcoins are not getting carried away with the increase in bitcoin but eventually altcoins will also move up and that's a common thing. indeed at this time altcoin has not moved but in time it will also follow with bitcoin.

so there is no need to hesitate to keep holding altcoins, especially for the top rankings because the impact will be felt even though it is a bit late.
Altcoin investing remains very profitable and could very well increase as well. feel free to do so and stay optimistic.

[EdenHazard]

What about taking out bitcoin in margin trading and then buy some altcoins?

$15k bitcoin now .. while waiting correction let's say you go take 1 bitcoin and exchange it to 5,000 xzc at $3 each..
Once the altcoin season begins... the xzc price pumped to $6 each and your 5,000 xzc now worth $30k and at the same time the bitcoin price corrected to $13k then you only need to pay that amount of $13k , you have the rest of $17k as a profit!
That's the sweet scenario.
Now talking about the worst scenario , the price of bitcoin continues to grow and the altcoin continue to dropped , this is the crucial moment for you to set the right open and closing position. Trust me it has a lot of risk doing this   but it's delicious though.

[harizen]

Then turned the situation into our advantage. Don't stop trading but instead, cope up with the situation unless you are a die-hard trader of BTC/USD pair and only focus on that. Even BTC is not on the bull run, there are still struggling to make profits on altcoins so don't take the current situation as a reason why not consider trading altcoins these days.

For most traders, it's a great opportunity to buy other altcoins as the trend is considered "on-sale".

At the end of the day, analyze what's the best thing to do. It's your money after all.

[tbterryboy]

Yes Bitcoin has been doing better than every other coin and more investments are going into it , anyone that's trading should trade with BTC/USD unless you're a really good expert and you know what you're doing and you have better plans on how to trade the alts, that aside BTC is the right cryptocurrency to be trading now with just USD. And then if you're a long term investor or trader, it's a good choice to continue with the Hodl if you want to see better profit.

When people were saying it was last year, I never believed it, I kept saying that it's going to be this year or next, and even if it's going to be this year it would be anywhere around December, and we are yet to reach there, the price is speeding up, in less than 24 hours of reaching $15,000 is close to $15,500.

[pooya87]

first of all no altcoin has ever been capable of performing half as good as bitcoin in long run let alone outperform it.

Assuming we are talking about "profit" and not "technical aspects" then this statement isn't accurate, it would make sense if you had the chance to buy bitcoin 10 years back vs any other coin now, but that isn't the option, it's all trading bitcoin vs another currency now.

With the relatively large market cap of bitcoin, your gains will be smaller compared to smaller currencies, obviously, the opposite is correct too, you take more risk investing in altcoins.

Some coins are 200% up against BTC this year, so they did outperform bitcoin price-wise, none of those coins can compete with bitcoin in all other aspects, their market cap combined won't get close enough to BTC's market cap, but the potential profit is uncomparable.

"profit" can be defined in different ways. the long term profit which i have in mind is the performance i was talking about. altcoins have always been pump and dumps, where they get pumped and can well outperform bitcoin but then they will get dumped and all that profit goes up in smokes.

there were shitcoins that went from 0.0001 satoshi (that is a fraction of a satoshi) to 1000 satoshi which simply outperforms bitcoin's entire rise history (that is about 1 billion percent rise!). they don't even exist today.

so i agree that if we only consider short term gains as day traders a lot of shitcoins can outperform bitcoin but they also have a much bigger risk and will have a dump.

so calling it "diversification" is just silly. it is even more silly when you see they get dumped whenever bitcoin rises so what you call "diversification" is actually increasing your losses.

It isn't silly IMO, he makes perfect sense, in many cases, alt coins go up, BTC goes down or sideways, it isn't always BTC up and alts down, it depends, right now all eyes are on bitcoin, liquidity goes mainly to BTC, but sooner or later some of that money will find its way into the alt market, whether we like it or not, the large gains lie within the small coins, the last DeFi wave made millionaires from a coupe thousands $ of investment, sadly, most of those projects are pretty useless and some went down close to zero but that is how things actually work.

that's the difference between a rise (what bitcoin has) and a pump (what altcoins have). the price achieved after a rise stays while the price achieved after a pump goes away.

"investors" who "diversify" are looking for long term investment and high reward, low risk investment. altcoins don't match that description.

USD isn't decentralized either,

true but at least it is not issued and controlled by some shady company and it can not be shut down by some agency some day to suddenly fall down to zero in a blinking of an eye!

most exchanges don't have a trading pair called BTC/USD, because dealing with USD directly triggers the KYC crap,

that would have been true if the said exchange had no KYC at all. i do not know any centralized exchange (specifically those who list tether and not USD) that doesn't have KYC requirements!
IMO the reason why these altcoin exchanges (eg. Binance) don't include USD is because they want to avoid having their business go on the law enforcement radar that fight money laundering, etc. this way they don't have to have a bank account, register their company or have a HQ. which funnily enough we don't know where Binance HQ is and they have always been evading being transparent about it!

[Reid]

Thanks for the tip.
I think I will be waiting for a dump then.

Most of my the altcoins in my portfolio are not in a good phase.
Yeah, that makes you worry and try to sell them thru BTC which is hyped right now.
Like a panic attack or riding the big boat.

[cheezcarls]

Do not trade Alts with BTC these days, You will just lose

I do not recommend to trade alts with btc these days otherwise you will be just loosing your money. As BTC hitting its ATH, the prices of alts are dumping even if it is BNB or any other coin whichever was stable in the last months. Just trade BTC/USD only.

I don’t mind trading shitcoins for BTC. But for promising alts like Ethereum, Stellar Lumens, etc., of course I wouldn’t convert them to Bitcoin for now since it is on a parabolic move. Because of this move, correction would be parabolic as well. Always better diversify your assets rather than just trading them all into Bitcoin, so that you will get less disappointment if the situation moves south.

[CyberKuro]

I'm not really that into altcoins, though there are some good ones--but I'd say now would be a pretty smart time to be buying those good ones, i.e., while their price is relatively low.

For people who have a lot of money to spend, buying bitcoin at the current rate probably won't be a problem and the chance of bitcoin to reach a higher point is still very likely to happen. Nevertheless, some altcoins inclined to follow bitcoin whenever it rise such as Litecoin or ETH which provide a larger spectrum of profits even for relatively small amounts of capital. Many traders share their technical analysis regarding those coins as well.

[imstillthebest]

I don’t mind trading shitcoins for BTC. But for promising alts like Ethereum, Stellar Lumens, etc., of course I wouldn’t convert them to Bitcoin for now since it is on a parabolic move. Because of this move, correction would be parabolic as well. Always better diversify your assets rather than just trading them all into Bitcoin, so that you will get less disappointment if the situation moves south.

i have a shitcoin here and i didnt trade them to alts or to btc because the value of them is still low , not just i love them but i dedicate time to get them on the past but by the way if thats your decision that was still okay because btc was valueable compare to shitcoins not only because of the current price of btc right now but valueable because it was a good quality of coin . on the altcoins there are many valueable altcoins and not all altcoins are falling . eth is one of that , its now trading at over 425 usd and thats a nice price compare to the last price of eth

[BitTraderCute]

Do not trade Alts with BTC these days, You will just lose

I do not recommend to trade alts with btc these days otherwise you will be just loosing your money. As BTC hitting its ATH, the prices of alts are dumping even if it is BNB or any other coin whichever was stable in the last months. Just trade BTC/USD only.

why we should worry to trade altcoin meanwhile in market we found many cheap coins now. if we smart choosing altcoin that have low price and good fundamental , trading altcoin will give us huge profits. dont affraid with loss , it will always occur in market and we just need to manage it if suffering us.