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Author Topic: Money flowing out of BTC into Altcoins  (Read 1697 times)
GrosWesh
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May 08, 2021, 03:26:34 PM
 #41

@Op: I think it is dangerous to switch entirely to altcoins.

It is better to diversify and keep some of your funds in btc, imo.
Many (too many?) People expect a crazy boom in alts, but ... we know that the market likes to surprise us. Hence the interest of never being 'allin' ...  Wink

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May 08, 2021, 06:03:20 PM
 #42

I wouldn't say that the idea is bad op, but just remember to leave some after you take profits and invest into altcoins. Then, if ever you get to have profits also from these altcoins that you wanna invest into, try to get a fraction of it also to buy back bitcoin and other reputable coins like ethereum and so on. At least that's what I do. Still, it's your choice. If you get lucky and gain profits, then good. If not, then at keast you learned something from that experience. Just make sure to never forget having allocation for emergency funds for unprecedented scenarios that may happen. Good luck op.
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May 08, 2021, 06:14:50 PM
 #43

I'm just wondering whether BTC has hit it's peak for this cycle.  It's been trading sidesways 55k-60k for the last 2 months
while altcoins have rallied.  From historical perspective, for those were in it in 2017, did bitcoin ever regain it's dominance after
altcoin season began.  I guess what i'm asking is whether I should liquidate my bitcoin position and chase altcoins or whether
there is more room for BTC to go this year.
Bitcoin transaction is becoming too expensive to the extent that investors are leaving the Bitcoin blockchain network, altcoin fees are low and as such, theborice of all of them are low and so investors can acquire large quantity of coin, recently, the old altcoin like eos, storg, verasity, and so many altcoin gets to their new ATH  this nee week.
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May 08, 2021, 06:54:49 PM
 #44

I will suggest you to Do your own research. This is not the end of BTC's pump. Still Many new institutions are entering in BTC. So there is a space for more pump. But alt hasn't pumped like BTC. So my suggestion will be keep 50% of your fund in BTC and buy top Alt with rest 50%. In this way you can catch the pump from both side.
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May 08, 2021, 07:04:01 PM
 #45

Bitcoin is like the fundamentals in crypto. although altcoins may be able to generate better profits, you still have to be selective in choosing altcoin investments. maybe you can let your investment in bitcoin, and look for other sources of investment to invest in altcoin, try to do in-depth research so you can avoid losses
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May 08, 2021, 07:10:23 PM
 #46

If you have already invested in bitcoin, I advice you continue to stay with bitcoin, do not liquidate your bitcoin to invest or chase after altcoin pumps, it's very risky, you might end up regretting your actions, bitcoin has been predicted to reach atleast 100k$ before this year ending so better to held them tight, bitcoin can trade sideways for months but when ever it wakes up, it moves and the moves are highly noticeable and also brings lots of profit, so if I were you, I will remain where I am and don't try to chase after altcoin pumps, you might end up buying a coin at its all time high and loose your money when it comes down or consolidates.

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May 08, 2021, 08:24:58 PM
 #47

I will suggest you to Do your own research. This is not the end of BTC's pump. Still Many new institutions are entering in BTC. So there is a space for more pump. But alt hasn't pumped like BTC. So my suggestion will be keep 50% of your fund in BTC and buy top Alt with rest 50%. In this way you can catch the pump from both side.
Yes, that's a good strategy at the moment, because considering that the next pump on BTC is still very likely to happen this year, it is clear that it is better to keep half of our funds in the top Altcoins, because the effect will always be there if BTC continues to pump well on the market.
Although the market is already overheated, but it still has the potential for growth. Bitcoin has been accumulating its positions in the region of 50-60k $ lately. I think that soon after there will be a break in this lull. If we reach the level of 65-70k $, we can safely speak about the preservation of the trend and the continuation of the bull run.
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May 08, 2021, 08:40:16 PM
 #48

I'm just wondering whether BTC has hit it's peak for this cycle.  It's been trading sidesways 55k-60k for the last 2 months
while altcoins have rallied.  From historical perspective, for those were in it in 2017, did bitcoin ever regain it's dominance after
altcoin season began.  I guess what i'm asking is whether I should liquidate my bitcoin position and chase altcoins or whether
there is more room for BTC to go this year.

A lot of people here in the forum believed that Bitcoin is really good for the long term holdings and this was already proven and tested in my own
opinion, But if you have a doubt now into bitcoin, I think you can chase now into altcoins as long as you will choose among top altcoins that has really a potentials to in the future where you can get a lot of savings of course.

judas
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May 08, 2021, 08:41:25 PM
 #49

I wouldn't recommend you to sell your Bitcoins and get some altcoins instead. Keeping Bitcoin for a long term is really important and much more profitable. For now, altcoin season is still going on. But I'm sure that you will be in much more profit with Bitcoin compared to altcoins as long as you wait patiently. If I were you, I would keep my BTCs and buy some ETH.  Grin

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The Great Kardoko
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May 08, 2021, 08:45:02 PM
 #50

There is nothing wrong with selling a bit and moving the funds to another coin. This is what I have done.

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May 08, 2021, 08:51:04 PM
 #51

-snip-

You have seen how Bitcoin gives you long-term benefits, if I had BTC at the moment, then I would trade and take the profits by buying altcoins and then buying Bitcoin for me to keep.
I still remember when Bitcoin was below $10k in 2018, back then there were many people who sold Bitcoin without thinking they would regret it when the price went up. Altcoins are great for investing, but make sure you choose altcoins that have good fundamentals for the long term.

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May 08, 2021, 10:54:43 PM
 #52

Bitcoin is the best crypto to keep for the long term but it's obvious that some altcoins would give better ROI than BTC over the years. So it's advisable that you have some extra cash to invest in good altcoins with long term perspectives.
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May 08, 2021, 11:58:23 PM
 #53

I'm just wondering whether BTC has hit it's peak for this cycle.  It's been trading sidesways 55k-60k for the last 2 months
while altcoins have rallied.  From historical perspective, for those were in it in 2017, did bitcoin ever regain it's dominance after
altcoin season began.  I guess what i'm asking is whether I should liquidate my bitcoin position and chase altcoins or whether
there is more room for BTC to go this year.
From the perspective of someone who is new to Bitcoin, it might feel like there is a lot more risk with it and a much lower upside potential (a 10% move from $50k to $55k takes billons, for Dogecoin a move from $0.05 to $0.20 may take the same amount but you'd quadruple your money). This might be a self limiting factor, although every piece of news of a new financial company getting involved will continue to push up prices, there are a lot of rich people out there with nothing better to do than drop money into diversified and rare assets like BTC. However the average low level investor would do much better to hunt out and put money into whatever coin is currently on an upward trend, you really have to be quick in this market - as we've seen with Dogecoin there can be huge upward trends followed by sharp corrections. Get in, take a nice profit and get out - remember to separate out some profits for the next trade though, so you don't lose it all if the market sentiment turns.
Altcoins are a dangerous story that can allow you to earn much more than investing in bitcoin, but also lose much more in the event of a change in the current trend from an increase to a decrease. Due to the current growth of altcoins, you need to look at the market with some caution, because the market is overheated, especially for dogecoins, and any bad news can correct the bitcoin exchange rate and, accordingly, lead to a collapse in the price of altcoins. Traditional investors have more confidence in bitcoin and therefore it is worth keeping some of the investment in bitcoin.
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May 09, 2021, 08:02:15 AM
 #54

Nobody knows when Bitcoin will leave its support and resistance corridor. As long as we move in the 52-62k range per coin, most of the top altcoins will show good growth. But the market is overheated and when the reversal begins, altcoins will fall in price much more rapidly and significantly.
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May 09, 2021, 08:56:20 AM
 #55

Storing your bitcoins at this time is the best choice in my opinion, rather than turning to Altcoins but if you have a lot of funds to invest you can choose ETH or BNB, but don't let you reduce the number of bitcoins you have.
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May 09, 2021, 12:10:27 PM
 #56

Storing your bitcoins at this time is the best choice in my opinion, rather than turning to Altcoins but if you have a lot of funds to invest you can choose ETH or BNB, but don't let you reduce the number of bitcoins you have.
I think its time for altcoins now. So now it would be wise to convert Bitcoin to Altcoin like ETH, BNB.  Bitcoin first settles within a certain range by pumping it alone. Now various altcoins are pumping.  Bitcoins may not pump more until major altcoins are pumped to a certain level.
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May 09, 2021, 01:14:45 PM
 #57

I think we could see a reversal soon & a lot of profits gained in alts could flow back into bitcoin.
Bitcoin has been consolidating in a tight range for a whole now, it usually means a breakout will happen soon. Alts have been pumping a lot, could soon be a time where clever investors move money back to bitcoin.

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May 09, 2021, 01:31:21 PM
 #58

I think we could see a reversal soon & a lot of profits gained in alts could flow back into bitcoin.
Bitcoin has been consolidating in a tight range for a whole now, it usually means a breakout will happen soon. Alts have been pumping a lot, could soon be a time where clever investors move money back to bitcoin.

After the altcoins catch up, it could be time for BTC again yet we are now seeing BTC pulled down. If both BTC and altcoins shoot to the moon later, we really cond see more users losing the chance for the ticket to ride.

Although we are seeing many altcoins had also experience bullrun, some are left stuck without moving. Investors today are getting wise not to buy just any coin all because they are old coins.
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May 09, 2021, 01:35:49 PM
 #59

I'm just wondering whether BTC has hit it's peak for this cycle.  It's been trading sidesways 55k-60k for the last 2 months
while altcoins have rallied.  From historical perspective, for those were in it in 2017, did bitcoin ever regain it's dominance after
altcoin season began.  I guess what i'm asking is whether I should liquidate my bitcoin position and chase altcoins or whether
there is more room for BTC to go this year.
I think Bitcoin will achieve the $100k new all time high this year so think twice before moving to altcoins. But if you insist why not make a 50/50 partition? 50% for Bitcoin and another 50% for altcoin just a diversification.

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Flowzer
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May 09, 2021, 02:24:59 PM
 #60

If you choose a correct Altcoin, u can multiply your amount of Bitcoin ofcourse.
I suggest you take a look at EOS, the EOSBTC chart looks very nice especially if the weekly candle close above the trendline.

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