Converting altcoin profits into Bitcoin?

[synchronym]

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 the case of bitcoin investment, if we always keep a long-term plan and invest in the market, we will achieve a considerable amount of success in the investment. But before investing in Bitcoin, if we monitor enough about the Bitcoin market, then it is very good for us because the Bitcoin market fluctuates, so we always have to keep an eye on the market and then we have to invest. But in the case of investing in Bitcoin, if we can invest with a long-term plan and check the market, then we can get the money profit for the purpose we are investing. But there are many who are new to Bitcoin investment, I will tell them that they invest too much in a hurry and because of this haste, they cannot make the right decision, so they lose more than the profit in Bitcoin investment. But another important thing in Bitcoin investment is patience. We must be patient. Sometimes we lose patience. So if we can invest patiently, we will definitely be one of the successful investors.

[amihada]

It's a good idea to collect alcoins and exchange them for bitcoin. I've been doing that for a long time. I often exchange prizes from bounties for dollars and I buy bitcoin because I'm more confident in keeping bitcoin as an asset.

[mamesso]

What if the Altcoin you hold decreases in value in the next 6-12 months, this method is very ineffective if you hope to make a profit from Altcoin to invest in Bitcoin. The crypto market is so volatile that no one can predict its price movements, what if your assets get stuck due to their value getting lower.
You need a mature strategy to manage your finances well, invest in a simple and easy way, always apply the DCA strategy to get Bitcoin regularly and you won't feel any impact on the market. The choice is yours, but if you want to invest in Bitcoin, never take the risk by expecting profits from Altcoins because the worst possibility could happen due to very high market volatility.

[boyptc]

It's a good idea to collect alcoins and exchange them for bitcoin. I've been doing that for a long time. I often exchange prizes from bounties for dollars and I buy bitcoin because I'm more confident in keeping bitcoin as an asset.

Good job.

That's what others need to learn from you. I have nothing against the altcoins holders that don't have Bitcoin but they have to start thinking the importance of owning Bitcoin.

Even the developers of the coins that they are holding, for sure holds hefty amount of BTC on their stashes.

[bettercrypto]

It's a good idea to collect alcoins and exchange them for bitcoin. I've been doing that for a long time. I often exchange prizes from bounties for dollars and I buy bitcoin because I'm more confident in keeping bitcoin as an asset.

That's also a good strategy, to be honest, and I think a lot of people do it that way, I guess. What I am doing as a strategy at present is that when I have income from my futures trading activity, I sell other crypto potentials that have the capability to also provide profit in the future during the bull run itself.

Though I hope others don't imitate me and enter the futures trade if you don't have a good knowledge of trading, it's better to stay in the spot instead of futures.

[chigo]

This is still in a sideways position, maybe you can cancel your intention to buy at this position considering that you have the potential to experience losses if the market is in a bear position. It is better for you to be able to see the position next month and determine your decision whether you want to convert your profit to Bitcoin or not.

However, while waiting, you can try to convert your profit to USDT as recommended by people here, to prevent the potential for decreasing profits, then when you are in the right position you can immediately buy Bitcoin in the amount you want.

[God bless u]

It does makes a big difference if you invest in Bitcoin or altcoins now.

For example , Cronos is one of my main altcoins and I believe that it will at least 8x in price between now and peak of bull run - Bitcoin you may only get a 2x , 3x possibly if things go really well.

Like I have said many times I am not against Bitcoin, I just want to make as much money now this bull run over the next 12 months which will then give me a good amount to invest in Bitcoin in the next bear market.

Then go for it if you believe with your choice, you don't have to create a thread when you only want to do what you want and no interest to listen to other people opinion.

I don't understand at all why someone need to ask something when he already know what he will do in the first place?

Altcoins are very risky so cannot be a long term investment.  But Bitcoin is a very strong currency, the profit is guaranteed for long-term investment, so if someone can make a profit through trading from Altcoin, then he can invest that profit money in Bitcoin. Then he will get big profit from it after a long time. If one can hold his money invested in Bitcoin for at least 10 years then he can expect to get at least 10x profit.  In the future, the price of 1 Bitcoin can go up to millions of dollars due to the supply of Bitcoin.  So there are still many opportunities to be financially successful by investing in Bitcoin

There are no guarantees Bitcoin price will multiply 10x in the 10 years and there are no rules someone need to achieve financially successful by investing in Bitcoin, there's nothing wrong to make money from altcoins or business.

If there is no guarantee in making the safe investments whiles you trade with BTC then no project and coin in the market of crypto is capable of doing so. Altcoins are greatly dependent on the performance of BTc .

As we can see that whenever the performance of Bitcoin drops the altcoins follow it on the other side when performance of BTc is good the altcoins are also a part of jt. I don't know why is it so but BTc is somehow controlling the market and I've seen that so far.

[legendbtc]

....

I started my crypto journey 2 weeks after the 2021 all time high - unfortunately for me this was not a good time but I was new and did not have any understanding of the 4 year cycle. The $15k you mention above was the bear market bottom in November 2022 so by that point I had been investing for 1 year.

I do believe had I only invested in Bitcoin since November 2021 then I would be in a better position now however I believe the way I have done it with altcoins I will be better off after the bull run as the majority of the altocoins I am holding I am expecting at least another 5-10x from current price , some even 20x .

Bitcoin will likely only move another 2x , 3x maximum between now and the end of this bull run.

I know and that's why you invest all your money in altcoins without any bitcoin in your portfolio.

I have just checked on the Bitcoin DCA calculator had I only invested in Bitcoin from November 2021 till today my portfolio would be +124% so not much difference really.

There is a huge difference and as I said above. Investing in altcoins means we are taking on greater risk, so the rewards need to be worth the risks we take. But look, the profits that altcoins give you are very small and they are not commensurate with the risk you have to trade off.

More importantly, have you considered the scenario where we won't have altcoins season? Meaning there will be no bull season for altcoins. As we can easily see, bitcoin increased from 15k$ to 73k$ but many altcoins did not even increase and are still at the bottom compared to 2023.
This has never happened before, if before when bitcoin doubled, many altcoins could increase 3x-5x even 10x. But things are changing as bitcoin has a new ATH while altcoins are yet to see any significant growth let alone huge profits. So far there are only a few growing more than 10x from 2022 like Fet, solana, pepe, people and I guess you don't invest in these projects because your profits are too small. The rest are still quite weak and I doubt an altcoin season.

[Jegileman]

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?

It is possible to do that only if you know when the bull run will be at the peak to take profits and also if you’ve invested in tokens that will do well in the coming bull run. The market is unpredictable so you should also lower your expectations on them and take whatever becomes of the investment since it’s altcoin investment and there’s no certainty whether you’ll be much profitable on them or not.

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.

That is why we have the Dollar Cost Averaging strategy that makes you to buy bitcoin at an average price of the highest and lowest you’ve bought during that timeframe. For your kind of investment that wants to hold for a very long time, DCA is the best to employ because bitcoin is always volatile and you have to play along with the volatility, so that you don’t end up spending all your money and not getting enough bitcoin in your portfolio.

[JamesDaniel90]

LegendBTC - let’s just agree to disagree.

I don’t think there is much difference in me being +117% in my altcoins or being +124% in Bitcoin has I only invested in Bitcoin up till now.

I am happy with this position I am in as like I said we still have up to another year of this bull run and altcoins can 10-50x during that time while Bitcoin will likely only 2x , possibly 3x.

The fact I am +117% overall with just altcoins shows you it can be done without Bitcoin and I think there will be an alt season , I get you are against altcoins so would say there probably won’t be one but I think there will be.

I am holding a few altcoins I am currently down on, the worst one I have is currently -40% down. I have some that I have a small profit on currently and have some that have done over a 10x for me and one that has done over a 40x.

I am going to stick to my plan of holding altcoins till the end of this bull run and then cashing that profit into Bitcoin gradually once the price starts going down after this bull run.

[Fara Chan]

It's a good idea to collect alcoins and exchange them for bitcoin. I've been doing that for a long time. I often exchange prizes from bounties for dollars and I buy bitcoin because I'm more confident in keeping bitcoin as an asset.

This is a unique step that can be done by anyone who really understands how it works and really believes in an asset like Bitcoin. Because I'm still quite sure that there are still people who don't want to do something like this, even though it has been proven to be good for themselves without having anything to do with it. And if you are still doing things like that until now, you are part of the people who have won in keeping Bitcoin because altcoins from bounties usually lose their value more easily in the market.

[Marvell1]

What if the Altcoin you hold decreases in value in the next 6-12 months, this method is very ineffective if you hope to make a profit from Altcoin to invest in Bitcoin. The crypto market is so volatile that no one can predict its price movements, what if your assets get stuck due to their value getting lower.
You need a mature strategy to manage your finances well, invest in a simple and easy way, always apply the DCA strategy to get Bitcoin regularly and you won't feel any impact on the market. The choice is yours, but if you want to invest in Bitcoin, never take the risk by expecting profits from Altcoins because the worst possibility could happen due to very high market volatility.

Basically, once he invests in altcoins, he takes on more risk but I wouldn't say this is a bad strategy if he invests in top altcoins as well as follows his plan. But if he invests in high-risk altcoins like memes, low-cap projects with the expectation of making huge profits then his plan will most likely fail.

Bull season is approaching and investing in altcoins is not a bad strategy to maximize profits, but making that plan successful is not easy. You are right, not all altcoins will grow and be profitable so he needs to think about the scenario if he is stuck in projects that cannot grow.

[Blitzboy]

Bitcoin is the king of crypto, the gold standard, the real deal. Anyone that tells you differently is either stupid or attempting to sell you something. It has staying power. But timing is crucial, and its a novice mistake to enter the market at the top.

Which is what I advise: For the moment, hang onto those bitcoins and permit them to ride the wave. However, monitor the market closely and begin to take profits and turn them into cash or stablecoins as soon as you notice indications of a high. Then, when the bear market hits – and it will, folks, it always does – thats when you jump in and buy Bitcoin at a discount.

Recall that, particularly in the crypto world, patience is a virtue. FOMO should not lead you to make snap decisions. Long-term thinking, strategic thinking, and - above all - gut feeling.

[Nwada001]

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 are asking if it's advisable for you to convert all the profit you will make from altcoin to bitcoin, my answer will be that you alone know what's best for you to do at that point in time. If your purpose in investing in bitcoin with your altcoin's profit is just to make a quick profit again from bitcoin, then that might be a fail mission as you will have to hold bitcoin for a long period of time before you can realise a good profit from it.
 
As for the buying of bitcoin during the bull market, which will definitely be on the higher side, I will tell you that there is no point in time that’s not the best time to buy bitcoin, as long as you have the funds ready and are willing to hold it for a long period of time. But if you are afraid of buying at a higher price, you can wait a bit until the market drops, which might take forever sometimes.

[Z-tight]

Which is what I advise: For the moment, hang onto those bitcoins and permit them to ride the wave. However, monitor the market closely and begin to take profits and turn them into cash or stablecoins as soon as you notice indications of a high. Then, when the bear market hits – and it will, folks, it always does – thats when you jump in and buy Bitcoin at a discount.

I believe you mean 'hang onto those altcoins', because it is altcoins that op is storing with the plan of converting his profits from them to BTC. This idea looks good in theory, but it does not mean it will turn out exactly like that, altcoins usually lack any utility and it is easy for most of them to lose their value very quickly.

My point in all this is that you could lose your money long before you try to convert it to BTC, and that is why i choose BTC over other coins and i do not fancy op's idea, but each to their own.

[Mahanton]

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.

Dont listen out into others advises but rather you should really be that sticking on your own decisions because you are the ones who do really knows on what you should gonna do. If you are that profitable or having that kind of diversified portfolio and seeing that you are holding those coins then it wont really be that bad idea that you should really be holding them until bull run specially if you are holding into those which does have potential.
If you are aiming on getting easy x2 or even more then i would say that this could really be achieve on altcoins but i dont say that it cant be possible with Bitcoin, but lets accept the fact that when it comes to probabilities or you are really that aiming for having more then it would really be that obvious on what it would really be your choice. Its not that Bitcoin is a bad choice but you do know on which one benefits you.

You are the ones who do make your own success and not others. If you are really that having that beliefs into your own portfolio then hold on. When we do speak on the current price of Bitcoin now
then it couldnt really be denied that it is really that on the higher side but doesnt mean that it wont really be that good to make some investment as of this moment. All of us would really be
reconsidering on taking up some position on the possible bottom, but the main question would be- is on when it would happen?

[darkangel11]

If I were you I'd exchange all my altcoins to bitcoin ASAP. The only thing I'd hold (if I had it) would be ETH because of the approved ETF. There's a chance it will get a new ATH, just like bitcoin did this year, but be aware that holding altcoins is gambling. They can go to 0, or be reduced in value by over 90%, which bitcoin simply cannot do. It can fail, it can lose value, but you will never see a total 90% meltdown over the course of days or weeks, but you can see altcoins do it, just like Luna did and many other well known scams like bitconnect and all the bitcoin clones. For instance Bitcoin Gold lost over 90% since launch in 2018.

[JamesDaniel90]

Which is what I advise: For the moment, hang onto those bitcoins and permit them to ride the wave. However, monitor the market closely and begin to take profits and turn them into cash or stablecoins as soon as you notice indications of a high. Then, when the bear market hits – and it will, folks, it always does – thats when you jump in and buy Bitcoin at a discount.

I believe you mean 'hang onto those altcoins', because it is altcoins that op is storing with the plan of converting his profits from them to BTC. This idea looks good in theory, but it does not mean it will turn out exactly like that, altcoins usually lack any utility and it is easy for most of them to lose their value very quickly.

My point in all this is that you could lose your money long before you try to convert it to BTC, and that is why i choose BTC over other coins and i do not fancy op's idea, but each to their own.

We have a big bull run coming over the next 6-12 months , Bitcoin will pump but Altcoins will go crazy.

The way you are talking is like we have a bear market coming up and all Altcoins will die - Altcoins see many returns in bull run peak.

[JamesDaniel90]

If I were you I'd exchange all my altcoins to bitcoin ASAP. The only thing I'd hold (if I had it) would be ETH because of the approved ETF. There's a chance it will get a new ATH, just like bitcoin did this year, but be aware that holding altcoins is gambling. They can go to 0, or be reduced in value by over 90%, which bitcoin simply cannot do. It can fail, it can lose value, but you will never see a total 90% meltdown over the course of days or weeks, but you can see altcoins do it, just like Luna did and many other well known scams like bitconnect and all the bitcoin clones. For instance Bitcoin Gold lost over 90% since launch in 2018.

You have to take risks in this game to make life changing money.

I was never going to make life changing money this past 2 years and the coming year just by buying Bitcoin but I can do with the altcoins I am holding.

I repeat , most of my altcoins are in the current top 50 and only have 2 that I consider real gambles - they will either go to zero or could 20x or even 50x my money over the next 12 months. A risk I am willing to take.

We have seen a mini crash in the last 24 hours with some of my altcoins down around 20% but some only 5-10% - they will quickly recover.

[Fiasem20]

Op you just have to know that not all altcoins rise during the bull run season,they are likely to dump beyond your expectations, investing in altcoins is just like gambling your funds because you can't tell the ROI in the future.Converting all your altcoin profit will just cost you higher transaction fee instead convert your altcoin profit to stablecoin and start accumulating with the DCA strategy.It's good you've realised the potential and worth of Bitcoin investment over altcoins investment,now that you've come to your realization it's best you start accumulating from your discretionary income and increase your investment portfolio instead of waiting for a market you can't predict the future.