JamesDaniel90 (OP)
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June 05, 2024, 02:39:55 PM |
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First bull run for me and I do not have any Bitcoin yet but do want some after this bull run to hold until 2030 at least.
Is it best to take my altcoin profits in the next 6-12 months at the bull run peak and then buy Bitcoin in 2026 during the next bear market?
I see some advise to just convert my profits straight into Bitcoin but in doing that I would be buying Bitcoin at the highest prices so don't understand that.
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Charles-Tim
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June 05, 2024, 02:43:15 PM |
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You know that could be the start of bear market. I will not advise anyone to buy huge amount of bitcoin around that time but to just buy little amount of it. Use like 90% to buy USD and start DCA. Using the fiat to buy bitcoin as the price of bitcoin is decreasing. It is better like that than to just convert all to bitcoin at once.
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promise444c5
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June 05, 2024, 02:52:37 PM |
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You know that could be the start of bear market. I will not advise anyone to buy huge amount of bitcoin around that time but to just buy little amount of it. Use like 90% to buy USD and start DCA. Using the fiat to buy bitcoin as the price of bitcoin is decreasing. It is better like that than to just convert all to bitcoin at once.
You can start with little by DCA so you won't feel the impact of bear whent it comes, since you are after holding it's hard to predict if the altcoin you're holding won't dump massively before that time because the bull run might come early unexpectedly and might still come late as expectedlike the previous patterns... You have the choice of utilising the flexible way of investment brought by Bitcoin (DCA) and by that time you should be having alot stashed up already by holding your investment.
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Aanuoluwatofunmi
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June 05, 2024, 02:58:51 PM |
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Is it best to take my altcoin profits in the next 6-12 months at the bull run peak and then buy Bitcoin in 2026 during the next bear market? So you can wait from now till 2026 before investing on bitcoin, maybe before then all your assets on other altcoins could have vanished away on losses and you may not be left with any profit again to use in making bitcoin investment, why not do that now, take the profits and invest in bitcoin, we are still on the post halving market pump, which means if you can buy now, you have higher chances of making profits till we reach to a new all time high of above $100,000 and by the year 2026, you could have achieved what you're meant to started with already.
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JamesDaniel90 (OP)
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June 05, 2024, 03:27:16 PM |
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Is it best to take my altcoin profits in the next 6-12 months at the bull run peak and then buy Bitcoin in 2026 during the next bear market? So you can wait from now till 2026 before investing on bitcoin, maybe before then all your assets on other altcoins could have vanished away on losses and you may not be left with any profit again to use in making bitcoin investment, why not do that now, take the profits and invest in bitcoin, we are still on the post halving market pump, which means if you can buy now, you have higher chances of making profits till we reach to a new all time high of above $100,000 and by the year 2026, you could have achieved what you're meant to started with already. We are nowhere near the peak of this bull run so doesnt make sense to me to cash out my altcoins now when they can do another 10x or even 50x return over the next 6-12 months.
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Assface16678
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June 05, 2024, 04:13:41 PM |
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Well, its still up to you. If you want to focus on bitcoin and accumulate a huge portion of bitcoin in preparations for the next bull run or big events in bitcoin, then I guess it's better to convert your altcoins into bitcoin, but not all because the fact that you are investing in altcoin means you are earning in more than one currency. So for me, it's better to convert just some of your altcoins into bitcoin so that you can still earn through your altcoin assets. But if you feel that a certain altcoin is not going to last or is not profitable, then that's the time that you will need to convert your altcoin to bitcoin and focus on it. It's not bad to hold altcoins; it's just that not all altcoins can be trusted and have the potential to give profit to investors, so the safest and most tested currency is bitcoin. You just need some patience because in order to earn huge amounts, you will need to do so.
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Zaguru12
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June 05, 2024, 04:27:36 PM |
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We are nowhere near the peak of this bull run so doesnt make sense to me to cash out my altcoins now when they can do another 10x or even 50x return over the next 6-12 months.
Personally I would say you should go for your conviction. Everyone here, including me will tell you to save play by buying bitcoin because it is the safest of all the coins. If you need to buy bitcoin there is no need to wait for a perfect time you start DCA from the day you have funds ready. But as it goes bitcoin will not give you 50x or even 10x highest in my perception right now is a 4x. The Altcoins will give you that and they may still dump with same volatility too. So the play is in your hands if you feel you can take the risk of losing them then gamble on with them. But a safer landing is always bitcoin because you’re not at the risk of it rug pulling like the Altcoins.
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Spaceman1000$
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June 05, 2024, 04:37:11 PM |
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First bull run for me and I do not have any Bitcoin yet but do want some after this bull run to hold until 2030 at least.
Is it best to take my altcoin profits in the next 6-12 months at the bull run peak and then buy Bitcoin in 2026 during the next bear market?
I see some advise to just convert my profits straight into Bitcoin but in doing that I would be buying Bitcoin at the highest prices so don't understand that.
You can actually start accumulating your Bitcoin now instead of waiting till the next Bull run in 2026 which I doubt because it's not certain, don't forget that those altcoins are not reliable, however I still don't see the reason to delay till 2026, so i would advise you invest all your profit into Bitcoin, you can use the DSA method to help you start accumulation no matter the price, wether high or low. If you can HODL till 2030 then, it's obvious your a long time holder, which I think will help you get your return in investment.
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JamesDaniel90 (OP)
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June 05, 2024, 04:37:54 PM |
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We are nowhere near the peak of this bull run so doesnt make sense to me to cash out my altcoins now when they can do another 10x or even 50x return over the next 6-12 months.
Personally I would say you should go for your conviction. Everyone here, including me will tell you to save play by buying bitcoin because it is the safest of all the coins. If you need to buy bitcoin there is no need to wait for a perfect time you start DCA from the day you have funds ready. But as it goes bitcoin will not give you 50x or even 10x highest in my perception right now is a 4x. The Altcoins will give you that and they may still dump with same volatility too. So the play is in your hands if you feel you can take the risk of losing them then gamble on with them. But a safer landing is always bitcoin because you’re not at the risk of it rug pulling like the Altcoins. Bitcoin is safe yes but I just don’t see point in cashing out now if I cash out now I can’t even buy one Bitcoin but if I cash out my altcoin profits in the peak of the bull run and then buy in the next bear market I might be able to buy 2 Bitcoin.
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Die_empty
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June 05, 2024, 04:49:19 PM |
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First bull run for me and I do not have any Bitcoin yet but do want some after this bull run to hold until 2030 at least.
Is it best to take my altcoin profits in the next 6-12 months at the bull run peak and then buy Bitcoin in 2026 during the next bear market?
I see some advise to just convert my profits straight into Bitcoin but in doing that I would be buying Bitcoin at the highest prices so don't understand that.
You have a good plan but the problem is your ability to know the peak of the bull run. Waiting for the next six months to one year to start selling your coin is a good prediction but it will be better to have a price that the coins will get to and you sell. Instead of waiting for the peak of the bull run just have a price benchmark. You might also face the same challenge of knowing when to buy. I suggest you keep your funds after selling the altcoins and consider using DCA gradually. Buying Bitcoin adopting a lump sum strategy might not be appropriate for a newbie. I also appreciate your long-term investment plan. All things being equal, you will surely profit after these years of hodling.
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Z-tight
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June 05, 2024, 04:54:30 PM |
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Bitcoin is safe yes but I just don’t see point in cashing out now if I cash out now I can’t even buy one Bitcoin but if I cash out my altcoin profits in the peak of the bull run and then buy in the next bear market I might be able to buy 2 Bitcoin.
Each to their own, take note that there is no guarantee that the altcoins you are storing would pump at the 'peak' of the bull run and give you a lot of money, they could also dump, and you'll lose money. So many of us do not trust altcoins because they don't have utility like BTC does, but if you believe in what you are doing, then goodluck.
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aylabadia05
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June 05, 2024, 05:17:19 PM |
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Just for myself setting up a pattern that may not be good for others. Not suggesting anyone to do so. For me it's still in an uptrend which is still good to hold until a new ATH price is expected to happen based on the four year cycle. Now. If you have Bitcoin in your wallet and some potential altcoins but still not enough, buy more consistently before Bitcoin reaches $80k. When it reaches the top, sell and hold USDT in preparation for buying when the trend goes down.
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Mia Chloe
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June 05, 2024, 05:18:20 PM |
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Firstly as far as Bitcoin investments is concerned I think it's quite safe to say that there isn't really a best time to invest as the longer you wait the more value the Bitcoin gains. In order to avoid that you could start buying and hodling little by little like some persons make use of DCA to invest still keeping in mind the phrase invest what you can afford to lose in mind. Bitcoin bull is still about 4 years away as the last bull was just recently and price still hasn't pumped though like some persons expected.
However there isn't much to worry about as this year's bull still hasn't surfaced its full effect. This is the very first bull I really experienced and one of the biggest effect I noticed was the rate at which majority of meme coins and shit coins were launched.
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GideonGono
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June 05, 2024, 05:24:05 PM |
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~snip~
I see some advise to just convert my profits straight into Bitcoin but in doing that I would be buying Bitcoin at the highest prices so don't understand that.
If you feel that the price is still high when you take profit from your altcoins, why not just convert it first into USDT or stable coins then buy Bitcoin when you think that it is already low. It is also possible that those who advise you to just swap your altcoin profit straight to Bitcoin, are aiming for a long term HODL that is why they don't really care much about the price right now, since they believe that it would be worth it in the long run.
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moneystery
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June 05, 2024, 05:28:06 PM |
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it is up to you whether you want to take profit now and buy bitcoin today, or you can wait for it. but if i were you, i would take the profit and buy some of it in bitcoin, and then the rest i would keep in stablecoin to buy bitcoin in the bear market later. but if you go all-in today on bitcoin, that's fine, but right now the market is sideways and we can't predict when the halving will happen, so it's better to act wisely right now.
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m2017
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June 05, 2024, 05:32:30 PM |
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First bull run for me and I do not have any Bitcoin yet but do want some after this bull run to hold until 2030 at least.
As a forum bitcointalk, you should be ashamed of not having bitcoin until now! It's sad that you started with altcoins, and not with the first cryptocurrency. Is it best to take my altcoin profits in the next 6-12 months at the bull run peak and then buy Bitcoin in 2026 during the next bear market?
An ideal plan (to maximize accumulated bitcoin) should look something like this: sell altcoins at the maximum price during a bull run -> convert into stablecoins -> buy bitcoin at the minimum price during a bear market. The problem is that at every stage something can go wrong. I see some advise to just convert my profits straight into Bitcoin but in doing that I would be buying Bitcoin at the highest prices so don't understand that.
Any advice should be treated with caution, and even more so, do not follow what is said literally. Tailor any advice to suit your needs.
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philipma1957
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June 05, 2024, 05:35:57 PM |
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First bull run for me and I do not have any Bitcoin yet but do want some after this bull run to hold until 2030 at least.
Is it best to take my altcoin profits in the next 6-12 months at the bull run peak and then buy Bitcoin in 2026 during the next bear market?
I see some advise to just convert my profits straight into Bitcoin but in doing that I would be buying Bitcoin at the highest prices so don't understand that.
First off profits mean taxes in some countries. It used to be you could convert your alt directly to btc in the USA. This was a like kind transaction so tax was zero. Thanks to the Former president Donald Trump this rule was ended and all exchanges of coin a for coin b result in taxes if you had a profit on coin a. Simple way to think was. LTC at 10 bucks was 100 bucks you put it all directly into btc before Dec 31 2017. That was a like kind and no tax. No report nothing. You Had 10 bucks LTC it was 100 bucks on Jan 1 2018 you made same move. you must file a return as 100-10 = 90 dollar profit. So no one can answer your question since we do not know your country and its tax laws. Some countries will fuck you if you convert an alt directly into btc at this time . The USA will make you report it and determine if you owe tax.
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thecodebear
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June 05, 2024, 05:53:47 PM |
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First bull run for me and I do not have any Bitcoin yet but do want some after this bull run to hold until 2030 at least.
Is it best to take my altcoin profits in the next 6-12 months at the bull run peak and then buy Bitcoin in 2026 during the next bear market?
I see some advise to just convert my profits straight into Bitcoin but in doing that I would be buying Bitcoin at the highest prices so don't understand that.
Impossible to say. Best just to avoid altcoins in general. Not sure why you only have alts and no bitcoin. Guessing you jumped into the market without really knowing what you were doing. There's no way to know when your specific altcoins will go up or down. They could peak well before bitcoin peaks, Altcoins are fads so there is no way to know if the specific altcoins you have will be the "in" fad at the time when bitcoin is peaking, or if they'll peak well before that, or even not peak until after the bear market starts. Only best advice anyone can give you is to get out of alts and get into Bitcoin and hold Bitcoin long term. It's entirely up to you to decide when you get out of that cr*p and move into Bitcoin. Also know way to know where Bitcoin bottoms next bear market. I think it'll probably bottom in the $60,000s, but maybe it'll go all the way down to $40,000s or $50,000s, maybe it won't drop below $80k. Nobody can tell you. If people are telling you to convert right now to Bitcoin, they are simply advising the safest thing, because the sooner you are out of alts and into Bitcoin the safer your money is. If you don't sell until late in the bull market then yeah it will probably turn out better for you to wait for a crash after the bull market ends, but nobody can tell you when or at what price to buy back. Nobody can tell you when the best time to sell your alts or to buy back into bitcoin is. But when talking about moving from risky short term fads to the best currency humanity has ever had (which also happens to be the most successful public investment in human history), the sooner the better is a decent strategy.
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Cookdata
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June 05, 2024, 06:04:05 PM |
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First bull run for me and I do not have any Bitcoin yet but do want some after this bull run to hold until 2030 at least.
Is it best to take my altcoin profits in the next 6-12 months at the bull run peak and then buy Bitcoin in 2026 during the next bear market?
I see some advise to just convert my profits straight into Bitcoin but in doing that I would be buying Bitcoin at the highest prices so don't understand that.
If you profited in any altcoins, let's say you have 10x in any of the altcoins, try and sell and lock your profits into usdt, don't wait forever because most of these altcoins that you are seeing making run for their money are just for the time being, from my experience some of them wouldn't have liquidity to perform after the bull run, sell of them and don't re-enter after selling because you will never know when the top is in, such move can make you end up as exit liquidity for other holders. The best time buy Bitcoin? Don't rush and buy Bitcoin after selling your altcoins, as altcoins are making run and new all time, Bitcoin will be be doing the same and all these run will cease, wait for the market to calm down and make a good retracement or wait for another bear market, there will be one most liekey before 2030, that's when you should buy your Bitcoin and then continue your journey to where you wish to reach.
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Hamza2424
Legendary
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Activity: 1078
Merit: 1092
🇵🇰 Pakistan
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June 05, 2024, 06:13:09 PM |
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First bull run for me and I do not have any Bitcoin yet but do want some after this bull run to hold until 2030 at least.
Is it best to take my altcoin profits in the next 6-12 months at the bull run peak and then buy Bitcoin in 2026 during the next bear market?
I see some advise to just convert my profits straight into Bitcoin but in doing that I would be buying Bitcoin at the highest prices so don't understand that.
Hmm, bro, there's nothing wrong with your mindset but I would like to give some advice from my experience that this is not the market cycle like previous ones, so in order to secure some decent buying iw would like to advise you should accumulate some of the amounts in this bull rally as well because in the dips we get some decent opportunities. Maybe after this bull runs you won't be able to make proper accumulations, due to high market value. Yup, there's nothing wrong in converting some of the profits from the other assets to Bitcoin as this can be a decent strategy to accumulate the required amount to hit your goal. By the way, you should hold cash as well in order to take advantage of the market volatility.
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