Selling Altcoins for BTC

[ncentrepreneur.investor]

In mid to late 2021, I was new to this space and went thru the altcoin phase. I staked my Ethereum and just now was able to unstake. I have been bitcoin only for at least the past year ( I learned). My first instinct was to unstake the ether and swap for BTC. My issue is that, If I did that right now, I'd sell at a 50% loss. The counter to that is that if im swapping for BTC, the btc price is also down, so..... If I wait till its up, its likely that BTC will be up too. I have this back and forth battle going on mentally of weather I should just sell now or wait. I dont want this J.P. Morgan owned mess, but I dont want to sell at such a loss. I just wanted some opinions.

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[Bitcoin_Arena]

I would suggest you head over to Tradingview and first have a look at the ETH/BTC chart so that you can make an informed decision on when you would want to sell the ETH for BTC
Look at the higher time frames. Bitcoin usually does better at the beginning of the bull run before ETH takes over later.

I would like to know, in which platform is your ETH staked?

[ncentrepreneur.investor]

I would suggest you head over to Tradingview and first have a look at the ETH/BTC chart so that you can make an informed decision on when you would want to sell the ETH for BTC
Look at the higher time frames. Bitcoin usually does better at the beginning of the bull run before ETH takes over later.

I would like to know, in which platform is your ETH staked?

I was staked at lido using ledger

[rat03gopoh]

My issue is that, If I did that right now, I'd sell at a 50% loss. The counter to that is that if im swapping for BTC, the btc price is also down, so.....

CMC stats explains that as of today the price of bitcoin against USD has decreased by 60% from ATH, and etherum is 62%, and this is the realization of your loss if you exchange to fiat or a stable coin.
I don't know the 50% loss you'll get by exchanging the two assets, did you mean the swap fee? Since ETH volatility tends to always follow BTC, I think your loss is only in the range of 2 to 7% if you look at the price history between june-july '21. Or you're willing to write down the details of your calculations.

[ncentrepreneur.investor]

My issue is that, If I did that right now, I'd sell at a 50% loss. The counter to that is that if im swapping for BTC, the btc price is also down, so.....

CMC stats explains that as of today the price of bitcoin against USD has decreased by 60% from ATH, and etherum is 62%, and this is the realization of your loss if you exchange to fiat or a stable coin.
I don't know the 50% loss you'll get by exchanging the two assets, did you mean the swap fee? Since ETH volatility tends to always follow BTC, I think your loss is only in the range of 2 to 7% if you look at the price history between june-july '21. Or you're willing to write down the details of your calculations.

No, I kind of came to the same conclusion you did with the 2 to 7%. When I was buying Eth, both Eth and BTC were up, but they are both down. If I waited until Eth was up, it would be more than likely that BTC would also be up since BTC moves first, so at this point, it probably doesnt matter too much to make a huge difference. With Linear thinking, Eth would be back up to $4500-$5000 and BTC would stay the same. lol, not happening.

[Strongkored]

In mid to late 2021, I was new to this space and went thru the altcoin phase. I staked my Ethereum and just now was able to unstake. I have been bitcoin only for at least the past year ( I learned). My first instinct was to unstake the ether and swap for BTC. My issue is that, If I did that right now, I'd sell at a 50% loss. The counter to that is that if im swapping for BTC, the btc price is also down, so..... If I wait till its up, its likely that BTC will be up too. I have this back and forth battle going on mentally of weather I should just sell now or wait. I dont want this J.P. Morgan owned mess, but I dont want to sell at such a loss. I just wanted some opinions.

If you don't want to sell at a big loss that is happening to the coin that you have then the only option is to keep holding it until Bitcoin is bullish because that will also affect the price of the altcoin that you are currently holding, maybe you can speculate by selling the altcoin and directly buy bitcoin save it for the next 1-2 years to benefit from rising BTC prices but the profit is not large because the losses from selling altcoins are reduced but of course, your initial capital will experience an increase, it's just what percentage of your capital will increase depending on your patience to save btc that you have bought, but your decision should have been by analyzing the market first, also taking into account whether re-staking it will reduce losses while waiting for the altcoin price to rise

[mk4]

Here's a simpler solution — go with the asset that you're more bullish on, then just strive to earn more money so you can stack more bitcoin for the long-term. You're going to waste your time trying to time the market.

[rat03gopoh]

With Linear thinking, Eth would be back up to $4500-$5000 and BTC would stay the same. lol, not happening.

Okay, do you have any other references about this thought that I should know about? In fact, I don't see any event on the ethereum development calendar ^[1] for a year onwards that is likely to trigger an extreme bull run and overtake of cryptocurrencies in general.

1. https://coinmarketcal.com/en/coin/ethereum

[LittleBitFunny]

In mid to late 2021, I was new to this space and went thru the altcoin phase. I staked my Ethereum and just now was able to unstake. I have been bitcoin only for at least the past year ( I learned). My first instinct was to unstake the ether and swap for BTC. My issue is that, If I did that right now, I'd sell at a 50% loss. The counter to that is that if im swapping for BTC, the btc price is also down, so..... If I wait till its up, its likely that BTC will be up too. I have this back and forth battle going on mentally of weather I should just sell now or wait. I dont want this J.P. Morgan owned mess, but I dont want to sell at such a loss. I just wanted some opinions.

I know many people will advise you to sell ETH and switch to BTC immediately, as most people here are bitcoin maximalists. But I will speak my mind about your situation. ETH is not too bad to hold, and even its returns will be better than bitcoin these days. If you look back at the 2021 bull season, you will see that ETH's returns were much better than BTC's. Second, if you sell ETH and convert to BTC without loss, then that's the right thing to do, but if you have to accept too much loss when converting, it really shouldn't be.

[worle1bm]

If you are seeing the current market conditions then you can face loss but having long term approach and faith in btc could recover you from these loss so you can invest in it.But if you get panicked with next dump also even after swapping then you would be at loss again.You are seeing that prices are down now but treat this as an opportunity to get at discounted rates.

[hd49728]

My first instinct was to unstake the ether and swap for BTC. My issue is that, If I did that right now, I'd sell at a 50% loss.

If you get loss by selling it now, just don't do it. Ethereum is one of best altcoins and if you can hold it, you will get profit.

The counter to that is that if im swapping for BTC, the btc price is also down, so..... If I wait till its up, its likely that BTC will be up too.

If Bitcoin reclaims its all time high, it will be about x2 from today price. If Ethereum reclaims its all time high, it will be more than x2 from today price. With smaller marketcap, Ethereum will give you bigger profit in its 2024 and 2025 bull run. If Bitcoin rises two times to $120k, Ethereum can rise to $10k in next big bull run. The bull run of Ethereum can not come without Bitcoin halving and Bitcoin bull run.

Because you are losing 50% in Ethereum, if you sell now, you should hold it.

[traderethereum]

You should wait and be patient until the ETH price rises again, then you sell the ETH to get profits in the form of BTC or USDT.
That will be done by many people who are still saving their ETH and if you can wait, you are not alone because there are still many who are also waiting for the price of ETH to rise again.
With market conditions that are still unstable and tend to decline, I think the best position is to wait until the altcoin season comes again.
But it's all up to you to decide and if you really can't afford to hold the ETH, you can sell it even though it's not recommended.

[slaman29]

We've all been there, that's fine. I was in the space in 2016, and especially in 2017 when I became active in this forum.

We all need it, to teach us important lessons about crypto, to understand the comparison with Bitcoin not just from a price perspective but from community and the way we use it.

I found SO much help in Bitcoin community, altcoins? Help with scamming and buying for sure...

[indah rezqi]

No, I kind of came to the same conclusion you did with the 2 to 7%. When I was buying Eth, both Eth and BTC were up, but they are both down. If I waited until Eth was up, it would be more than likely that BTC would also be up since BTC moves first, so at this point, it probably doesnt matter too much to make a huge difference. With Linear thinking, Eth would be back up to $4500-$5000 and BTC would stay the same. lol, not happening.

Can you tell us how much was your budget for buying ETH back then and what was the price of bitcoin when you did?
This will probably help us to find a better solution instead of just suggesting you hold on until a new ATH appears. But maybe, if you have extra budget then it's better to accumulate as much as you can afford. ETH will follow the bitcoin trend, but if you have any doubts then invest in bitcoin instead.

[Aanuoluwatofunmi]

In mid to late 2021, I was new to this space and went thru the altcoin phase. I staked my Ethereum and just now was able to unstake. I have been bitcoin only for at least the past year ( I learned). My first instinct was to unstake the ether and swap for BTC. My issue is that, If I did that right now, I'd sell at a 50% loss. The counter to that is that if im swapping for BTC, the btc price is also down, so..... If I wait till its up, its likely that BTC will be up too. I have this back and forth battle going on mentally of weather I should just sell now or wait. I dont want this J.P. Morgan owned mess, but I dont want to sell at such a loss. I just wanted some opinions.

Why not hodl your 2021 altcoins investment down and use another money to invest in bitcoin now, try to buy and hodl the more, the current value or rate we are now is not what will continue to be especially now that we are getting closer to the bullrun, which means there's the confidence that bitcoin will get to the all time high and beyond in due time only if one can hodl while other cryptocurrencies invested too would have same opportunity to rise along with bitcoin soon, so my advice for you is to continue to hodl no matter the dip or what's happening currently, don't loose focus.

[palle11]

My first instinct was to unstake the ether and swap for BTC. My issue is that, If I did that right now, I'd sell at a 50% loss. The counter to that is that if im swapping for BTC, the btc price is also down, so..... If I wait till its up, its likely that BTC will be up too. I have this back and forth battle going on mentally of weather I should just sell now or wait.

I see from your post you still learning the system and coins. My question is if you unstake and swap to btc are you intending to sell immediately because you talk of 50% loss so why swap to btc when you can unstake your etheruem and sell direct and moreover btc transaction fee is still a little higher than what it is in etheruem. It will be of no investment value if you unstake, swap and sell in bitcoin. The second point is if you want to swap and hodl in btc for longtime well it could be better investment idea because I believe btc has profit potential than etheruem. So by hodling btc on a longtime, you won't talk of 50% loss but maybe profit at the time shortly after halving.

[blockman]

In mid to late 2021, I was new to this space and went thru the altcoin phase. I staked my Ethereum and just now was able to unstake. I have been bitcoin only for at least the past year ( I learned). My first instinct was to unstake the ether and swap for BTC. My issue is that, If I did that right now, I'd sell at a 50% loss. The counter to that is that if im swapping for BTC, the btc price is also down, so..... If I wait till its up, its likely that BTC will be up too. I have this back and forth battle going on mentally of weather I should just sell now or wait. I dont want this J.P. Morgan owned mess, but I dont want to sell at such a loss. I just wanted some opinions.

Don't sell at losses if you're not willing to. What's the sense of selling at a loss if you do know that you'll be selling at a loss? You might just want to wait until you get a break-even or buy more with your spare money so that you don't have to convert and take the loss.
That's the best thing that you can do right now, buy some BTC using cash. 50% loss is too much and you're not going to sacrifice that for the sake of buying bitcoin. Well, I guess that's the easiest choice you can make, no need for any sacrificial sale at losses only if you've got spare.

[ncentrepreneur.investor]

If you are seeing the current market conditions then you can face loss but having long term approach and faith in btc could recover you from these loss so you can invest in it.But if you get panicked with next dump also even after swapping then you would be at loss again.You are seeing that prices are down now but treat this as an opportunity to get at discounted rates.

Yea, I planned to swap into BTC and hold for the next 20-25 years. I have a stacking goal.

[ncentrepreneur.investor]

Thank you all for your input. I had in mind that alts normally move faster and harder when it’s their time to move but since I’ve turned maxi, I may just flip it into btc and call it a night. It would require predicting the future and timing the market by waiting to convert later. Hell, might end up with less. While btc is also still at a discount, I might as well get it now regardless of what Eth does. Long term (which I plan on holding for) BTC fundamentals wins.