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

[celot]

I agree with your opinion when bitcoin become dominance more than 70% and bitcoin keep growing up and make altcoin not have chance for growing up now. Better waiting until bitcoin have reach higher price and keep stable for giving chance for altcoin to grow up, just now still moment for bitcoin and not good timing of you wanna entry to altcoin. But have some altcoin have good timing now with touch higher price like ethereum keep continue growing like bitcoin.

[darewaller]

Better waiting until bitcoin have reach higher price and keep stable for giving chance for altcoin to grow up, just now still moment for bitcoin and not good timing of you wanna entry to altcoin.

Yeah, when bitcoin is dominating more than 70% in total capitalization of crypto space, it would be much better not to touch any altcoins for trading purposes. It can be a basic thump rule like when bitcoin dominance is increasing then we should book profits in altcoins so that we may get chances to buy at cheaper prices. I'm not sure how many altcoins will be finding capabilities to stand against high-value bitcoins because I am seeing already lots of altcoins are facing very low value which which may lead them into delisting as well .

if you want to secure your money then better stay in Bitcoin only that altcoin is only for those who have guts to lost money or aware about the risk.

This has been a good suggestion for years but people are not ready to listen to it. They somehow want to risk with altcoins as well. Quick and easy profits could be the few of the reasons for them still considering about altcoins investments.

[ChrisPop]

Don't listen to this advice or the one that follows. You can still make money trading alts by profiting from the bounces, betting on reversals or if you are more experienced and courageous you can try your hand at shorting them. Professional traders can make money no matter which way the market goes. You just need a solid strategy and stick to it.

[SquallLeonhart]

Of course, this is a wrong take, it all depends on the altcoin you pick to trade with. If you bought ethereum when it was 380 dollars just a week ago (not even that long ago) you could have made more profit with it than you could have made with bitcoin while bitcoin went from $13k to $15k at the same time, so not even a period where bitcoin stayed low or anything, we have seen the biggest price of bitcoin since 2018 and we still managed to make more profit with ethereum.

Hence, why I believe it is quite important that people should focus on altcoins but only if they think they are dealing with the right one. If you pick a coin that is bad or not have a future and maxed out, that means you could definitely lose money, but if you pick one that is good and has a future, you could make a lot more profit.

[DrG]

Catching the reversal or hoping to buy right at the bottom is very difficult if the whole market is on an uptrend, altcoins need fuel for joining the party. Maybe the alt season will start after the comeback of ETH but it can take a little bit more than expected. Buying the dip will give an advantage in terms of R:R, so better to buy with the amount we can afford to lose.

I think only the POW coins will see a rise when ETH goes up as lot of those 4GB cards are going to push their hash to those chains. Their networks will become more secure and there will be increased scarcity for a few. It doesn't necessitate that the price will go up, but it does oppose the price going down if more miners are on it. ICO coins will need advancements to pull them up.

[Sayeds56]

Very True. It is not right time to trade but invest in alt coins now because all good coins are bottomed out now and have good potential to give you huge return once BTC stabilizes above 20K. My choice is XTZ, LTC, Ethereum and Compound coins.

[ropyu1978]

I think have ended for bitcoin raise up and last two days bitcoin back correction and now the best time for trading in altcoin or try trading with bitcoin, I think enough correction for bitcoin from 15,5k$ back down do 14k$ and now moment for re investing again before late seeing bitcoin have the same moment with the last end of 2017. You can try to long now with bitcoin or ethereum because have chance to back on higher price but if you still worry could put order under 420$ for ethereum. I think is most safety when you trying for long at the future and spot exchange market, choose on your hand wait, see or take action to get much profit before bitcoin and altcoin back to higher price again.

[pixie85]

Don't listen to this advice or the one that follows. You can still make money trading alts by profiting from the bounces, betting on reversals or if you are more experienced and courageous you can try your hand at shorting them. Professional traders can make money no matter which way the market goes. You just need a solid strategy and stick to it.

My question to people like you is always the same:

If altcoins react to Bitcoin's moves much slower and much weaker and the less popular the altcoin is the less chance it will even be moved by a BTC rally, what makes you think that choosing them over BTC is a better deal?

You can buy a bunch of alts, some of them will end up being scams like bitconnect, some will keep losing value over time and die or become a zombie coin trading at 1% of its ATH like BTK, RUPX and many more. Even if you hit that 10x pump coin the pump will be so fast that you probably won't even catch it. Is it really worth it?

I understand people who have a lot of BTC and want to play a bit on the altcoin market. I don't understand people who don't have Bitcoins and as newcomers chose alts over BTC.

[Yatsan]

We do have different perspectives and approach with regards to having the red and the bull markets. Others might see red market as a stressful one but that is because they are just seeing the bad side of it and not seeking opportunity along side such negative moment of the market. If you have experience losses on your trades before, that is because you ought to be seeking only the bull market and always neglecting the opportunity that is just in front of your nose. Bitcoin is not the only crypto profitable for trading. Altcoins do also have potentials if you will just be picky on choosing the best and diversify your funds to have an upper hand on the situation. No crypto is perfect for all do have flaws since we are on a fast changing market due to volatility. Also, trading is already risky at first thought and we all do know such. What we need to do is strategize on how we will deal with such to somehow lessen that risk turning it into a profitable opportunity.

[asus09]

It is better to wait for the stable bitcoin price to enter into altcoins, currently the price of bitcoin is still unstable after being able to penetrate $ 16k bitcoin to fall back to $ 15k and make the effect for altcoins not being able to go up to high prices, you should just try bitcoin because bitcoin still dominates more than 70% compared to altcoins. Currently, it is still the moment for bitcoin until bitcoin touches high prices and remains stable for the next few weeks, when bitcoin is stable investors will switch to altcoins so that the dominance of bitcoin can be defeated by altcoins if investors have traded in altcoins.

[rijaljun]

I think that's good advice though we can't still predict the market even and there's no way we can predict that you will lose. What I'm saying is that since the Btc is increasing we can just focus trading it on BTC/USD rather than BTC/Altcoins since we can really make a good profit with BTC/USD

[illnino]

Not a good recommendation. Traders are used to this BTC pump scene while the majority of altcoins are dumped. Why stopped trading altcoins if they can buy more these days.

It depends on the strategy of why traders lose and not because BTC is pumping.

This is actually supposed a usual and common scene and experienced traders already know what to do.

Probably, the guy meant we should not use Bitcoin for altcoin exchanges. If it is true, then he is right. The best thing we can do now is to wait when Bitcoin reaches its next peak, and then get benefits. Alts-alts trading can be not stopped.

[shata]

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 trade alts and btc at the same time. What I could recommend is trade them independently. Alternative coins have different charts as to bitcoin, they are not the same. Sometimes they correlate sometimes they don't. But more often based on my experience is that they can have direct and indirect relationship at all. At what cases?

If bitcoin keeps on going up while majority of alts are going down means there were just exchange of money inside the crypto space. People are just selling alts to buy bitcoin. Easy as that, in that scenario if you observe that too early, through the use of bitcoin dominance, you can keep reshorting alts as bitcoin keeps pumping.

This is just one part of the cycle of whats happening in the crypto market.

For now, I'm not convinced bullrun is starting yet. What I would like to see is a pumo for both Bitcoin and alts, because that just means new money is coming in in the market. This is what also drives the price in 2017, FOMO. New money coming in.

[ene1980]

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.

If there is a big pump in bitcoin, people usually sell off their alts and enter bitcoin to ride the rally and it was a common theme in the past and we should expect the same this time. It is hard to determine how long the price will rally but we will see major sell offs in the altcoin market if the proper rally starts in bitcoin which will break the all time high valuation and then buy back the alts at a later time.

[suzanne5223]

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.

If there is a big pump in bitcoin, people usually sell off their alts and enter bitcoin to ride the rally and it was a common theme in the past and we should expect the same this time. It is hard to determine how long the price will rally but we will see major sell offs in the altcoin market if the proper rally starts in bitcoin which will break the all time high valuation and then buy back the alts at a later time.

Selling off one's altcoin holding in other to enter the Bitcoin rally still not a wise decision and that's what the OP advise causes it better to start a new trade by buying Bitcoin rather selling one's altcoin holding at a lost price. The best thing to do this moment is to skip altcoin trading for now just like I did while focusing only on BTC.

[Dollar_Hunter]

Not a good recommendation. Traders are used to this BTC pump scene while the majority of altcoins are dumped. Why stopped trading altcoins if they can buy more these days.

It depends on the strategy of why traders lose and not because BTC is pumping.

This is actually supposed a usual and common scene and experienced traders already know what to do.

Probably, the guy meant we should not use Bitcoin for altcoin exchanges. If it is true, then he is right. The best thing we can do now is to wait when Bitcoin reaches its next peak, and then get benefits. Alts-alts trading can be not stopped.

the most important thing right now is that you have to keep buying altcoins at the lowest price,
or at the support line, if you are able to accumulate altcoins then I am sure you will have a lot of profit later,
just need patience and don't give up.

[Paycoinzzz]

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.

In the downside wave, the upside waves also penetrate, especially when it hits strong support. Speaking of trade, we can trade and make a profit even when it's bearish trend
Professional traders with good TA knowledge, making money will take place everywhere.
And when the wave is stronger, it is more appropriate to place orders on margin trading. We will make a lot of money if Big Short when the price of BTC is at the top.

[TitanGEL]

Of course, this is a wrong take, it all depends on the altcoin you pick to trade with. If you bought ethereum when it was 380 dollars just a week ago (not even that long ago) you could have made more profit with it than you could have made with bitcoin while bitcoin went from $13k to $15k at the same time, so not even a period where bitcoin stayed low or anything, we have seen the biggest price of bitcoin since 2018 and we still managed to make more profit with ethereum.

Hence, why I believe it is quite important that people should focus on altcoins but only if they think they are dealing with the right one. If you pick a coin that is bad or not have a future and maxed out, that means you could definitely lose money, but if you pick one that is good and has a future, you could make a lot more profit.

It is really depending on the altcoins that you will trade, you will obviously lose money if you trade altcoins where in you are against the trend. The general market sentiment is now bullish and if you are still trading altcoin that is bearish then expect that you will lose more money. I only trade altcoins that in uptrend because as the time passing by, it creating higher low and higher highs where its price is keep increasing while it making bases in the chart. If I will choose between trading altcoin and bitcoin right now, I prefer to trade bitcoins because of its market structure where the price is now above multiyear high resistance which means that the trend is really strong and I'm looking forward to buy again because I'm anticipating that there will be a huge breakout that will happen in these following days.

[Dorodha]

We have to trade based on the state of the market no one can say when the market will be stable or not, but I will choose Bitcoin to trade because Bitcoin is a very good currency in the crypto market. All coins are at the top demand for Bitcoin is also high due to rising prices. In the case of Altcoin will depend on the trader the value of these currencies is much lower as the investment is less. In that case traders may fall into loss bitcoin could not reach a higher place due to low demand.

[ice098]

We have to trade based on the state of the market no one can say when the market will be stable or not, but I will choose Bitcoin to trade because Bitcoin is a very good currency in the crypto market. All coins are at the top demand for Bitcoin is also high due to rising prices. In the case of Altcoin will depend on the trader the value of these currencies is much lower as the investment is less. In that case traders may fall into loss bitcoin could not reach a higher place due to low demand.

yes we can do scalping if we want, day trading if want to, trading doesn't depends on people says oh don't buy now your funds will turn into bubble, you are buying at high price or what, but the thing is, it depends on us, yes bitcoin price is high now, so technically it is not the right time to buy, but the thing is scalping is good or arbitraging, but do not hold it for long term during these month, make a day trade instead to avoid sudden dump.