Converting altcoin profits into Bitcoin?

[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.

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.

Only if you don't have money to invest in. The less capital you have to invest the more risk you have to take. In my case I came in early, bought bitcoin when it was worth less than $1k. At that time investing $20k + into this felt really risky but you have to decide if that was big risk or not. Right now the risk is much smaller, but the capital needed to invest to make a change in your life is exponentially bigger. You need at the very least 1 bitcoin to benefit from bull market, so you need $70k all at once. When you buy altcoins it feels easier, cheaper, but the chance of losing it all is pretty high.
Would you rather risk $70k to gain double that, but with a chance of going to 0, or safely invest the same amount and get maybe 0.2 - 1x in the next 12 months? I'd always choose the second option.
Look at some of your top 50 altcoins. Most of them are in constant downtrends since the inception.

[_BlackStar]

-snip-

Take note that i do not keep any altcoins in my portfolio. There is no strategy that has proven to be successful in predicting altcoins, how can you trust some developers, when a lot of them have turned out to be scammers in the past, and if you are investing because an influencer recommends the coin, then that is a crazy thing to do. I agree with the point that you can get lucky with a few altcoins if you buy a lot of them, but what if you don't get lucky.

Not all altcoin are trash - some of them can also bring you profit. Just avoid most of the new altcoin created when the narrative is high like memes or AI - but of course I don't recommend you buy an altcoin if you're never convinced it can give you return.

Of course it's not a problem if you only invest in bitcoin - but anyone who diversifies their assets into several altcoin is not entirely to blame. I also own bitcoin and tend to be more confident in its future potential than altcoin - but I have a few percent of altcoin in my portfolio that I at least believe can give me return.

[Ptb73]

It may not be wise to invest all your money in Bitcoin at once. One strategy you could consider is Dollar Cost Averaging (DCA), which involves investing small amounts regularly, regardless of the price.

[SickDayIn]

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.

"after this bull run"

You will never know when it's the top or it's the bottom. You are just better off starting to dollar cost average immediately.

[Tamaperdana]

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 look at your desire to hold bitcoin until 2030, I think you could be considered a typical medium-term bitcoin investor. So my advice, you can buy bitcoin when the bull market is over. Because of course, after the bull run market is over, the price of bitcoin usually always falls first.

But apart from this method, buying bitcoin using the DCA technique is also a strategy that you can apply to your bitcoin investment. Because currently DCA is a strategy that is widely used by bitcoin investors. But most users of the DCA technique are of course long-term investors. Meanwhile, you intend to invest in Bitcoin, it will only be approximately 4-5 years.

So so that you can be more confident in your choice regarding your initial Bitcoin purchase, try reading the arguments provided by the site below.

1.https://www.paper.id/blog/tips-dan-nasihat-umkm/dca-bitcoin/ (DCA)
2.https://www.bloombergtechnoz.com/detail-news/33607/belajar-strategi-investasi-buy-the-dip-pada-aset-kripto-bitcoin (Buy The Dips)

[Yatsan]

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.

Well, if you're after a more assured investment then shifting to Bitcoin would be a good thing to do. You also have a point considering the market price of Bitcoin which is currently high. But same things goes on selling your altcoin holdings right? Now, your option is to either do it or just stick with your altcoin portfolio. Eitherway would be fine as long as you have your own plan for this bull cycle. If you're decided already to move into Bitcoin then it would be best to wait for the right timing. Wait for sudden dumps which happen often on the past few weeks.

It may not be wise to invest all your money in Bitcoin at once. One strategy you could consider is Dollar Cost Averaging (DCA), which involves investing small amounts regularly, regardless of the price.

Diversification indeed woule be a great thing to do however not all crypto investors have plenty of time checking market price behavior. Make a portion of your portfolio and disseminate the funds over the projects you got your interest with.

[Briankimp1]

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.

I think you’re up to something here but I believe you’re placing way too much hope and trust in altcoins, knowing how unstable they are I wouldn’t be too hopeful they’ll give you what you wish.

Although I don’t believe in altcoins, I do think if you begin to slowly start converting them to Bitcoin through DCA method you’ll be great full at the end with your decision.

[tread93]

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.

Hey OP, that is definitely an option, if you're planning to hold onto long term I would definitely say that converting your funds into Bitcoin is definitely a great idea. Just make sure that you don't leave them on any exchange and get a solid cold storage wallet and back up the seed phrase and store in a secure and safe place. If you're still looking to trade and get in on some of the altcoin action maybe consider just leaving a small portion for alt coins to play around with if that's what you're into which I feel like may be the case but I could be wrong...

[Mr.suevie]

-snip-

Take note that i do not keep any altcoins in my portfolio. There is no strategy that has proven to be successful in predicting altcoins, how can you trust some developers, when a lot of them have turned out to be scammers in the past, and if you are investing because an influencer recommends the coin, then that is a crazy thing to do. I agree with the point that you can get lucky with a few altcoins if you buy a lot of them, but what if you don't get lucky.

Not all altcoin are trash - some of them can also bring you profit. Just avoid most of the new altcoin created when the narrative is high like memes or AI - but of course I don't recommend you buy an altcoin if you're never convinced it can give you return.

Of course it's not a problem if you only invest in bitcoin - but anyone who diversifies their assets into several altcoin is not entirely to blame. I also own bitcoin and tend to be more confident in its future potential than altcoin - but I have a few percent of altcoin in my portfolio that I at least believe can give me return.

Yeah that's true, I think it's all in the process of how you make out your own research and observation, I believe the crypto space is very big enough for someone to actually give you their own insight about altcoins so you check it out and draw your conclusions because some altcoins definitely are worth buying and that's because I deem fit to be whereas you can just focus on the latter but in the long of everything it's still all about profits and safety in buying the right stuff.

[kotajikikox]

Take note that i do not keep any altcoins in my portfolio.

To be honest it makes more sense to me to own only bitcoin but holding only altcoin is not something I would gladly suggest to anyone.

I agree with the point that you can get lucky with a few altcoins if you buy a lot of them, but what if you don't get lucky.

the thing is that they would argue that buying crypto for a cheap price is quite worth the risk of not getting lucky. Because when you get lucky, you get LUCKY . Buying cheap and selling at a high price is the absolute dream.

[jaberwock]

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.

I do the exact opposite, turn bitcoin profits into altcoin. Thing is that my money is mainly in bitcoin and that is great, there is nothing wrong with that, but the fact is that we are going to end up with something that's going to profit us anyway, there isn't really a downside to it at all. We should realize that the best thing to do would be just taking most of our money to bitcoin.

This is totally what we are looking at right now and we shouldn't really consider what we are doing as risky at all, it's just the way it is at the end. So if I make some profit at bitcoin, because most of my money is there, then I put some of that profit into alts, and then when those alts make a profit, I put it back to bitcoin yet again and repeat.

[Zubi99]

Choose a cryptocurrency exchange that supports both the altcoin you want to sell and Bitcoin.
Create an account on the exchange and complete the verification process.
Deposit the altcoins you want to sell into your exchange wallet.
Sell your altcoins for Bitcoin by selecting the altcoin-Bitcoin trading pair and specifying the amount to sell.
Once sold, withdraw the Bitcoin to your personal Bitcoin wallet.
Monitor your transactions and consider tax implications if applicable.

[Dr.Osh]

If you are targeting profits from Bitcoin, this must be done. Turn all the profits you get into buying bitcoins and holding them. If you do this consistently, sooner or later it will make you have a lot of bitcoins. So, if you want bitcoin, then that's a very good thing.

[tottong]

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?

Basically it is best to still buy bitcoin with whatever budget you have because there is no need to wait until 2026 to buy it.
If you have assets in altcoins and later make a profit, you can buy bitcoin again. But how confident are you that the altcoin you hold can produce maximum profits? It is recommended that the investment percentage be greater in bitcoin than altcoins.

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.

Buying bitcoin at the highest price is not a problem as long as you are a long-term holder, or if you do not intend to buy at a high price then create a DCA strategy to buy regularly.
The rest of the profits can be saved and wait for the price of bitcoin to fall again, but if you have the courage to buy at any price it is not a problem because we will see a new price cycle.

[Yamifoud]

I realise I am outnumbered here with most of you only buying Bitcoin , that’s fair enough let’s just see what happens.

I believe I will have a few altcoins that will go to zero but the majority will give me profit and I will have a couple that will give me fantastic profit. I am currently holding one that I am up 32x on and that is even after this mini crash in the last 24 hours , I was up over 40x on it a few weeks ago and I believe at the peak of this bull run it will give me a 75x return at least, hopefully over 100x.

A few of you here are acting like I am only buying altcoins outside the top 1000 which are really high risk. As I mentioned a few times now, the majority of my altcoins are strong altcoins in the current top 40 and they are going to give me at least a 5x , hopefully 10x in the next 6-12 months.

More people but ONLY Bitcoin because of its long-term potential but these guys had also experience with altcoins and saw the big difference between them compared to BTC. It was just their experience telling them what to do and it's up to you then. Besides, it is our personal investment, we can do whatever we want and besides, our main goal here is to earn money from investing in crypto.

So, if you think altcoins are more profitable then take but never get frustrated if you hear more people are investing in Bitcoin. I have both of them but I invest more in Bitcoin. Well, yes, let us see what happens and I am hoping for the best for you as well.

[AnonBitCoiner]

It may not be wise to invest all your money in Bitcoin at once. One strategy you could consider is Dollar Cost Averaging (DCA), which involves investing small amounts regularly, regardless of the price.

Exactly one should not put all amounts in just a single day because there are regular ups and downs in the worth so try to analyse the market and invest little by little according to the market shifting. It is also suggested that if you choose some good altcoins with Bitcoin then your profit will be extreme as these days some altcoins are trending.

Another better strategy is that whenever you have some payback in altcoins then sell these altcoins in order to invest in bitcoin but try to invest at the time when there is a decrease happening in the price of Bitcoin or altcoins and sell should be done when your money shows multiplication.

[Solokan]

Every decision is in your hands, I do not recommend buying bitcoin in large quantities when bitcoin is at a high price, there is no certainty that the bull market will make you a big profit from buying bitcoin. My suggestion is to exchange the altcoin you have for Bitcoin then save it until bullishness occurs again this year. If this is a good start to your decision, do it in principle in your own way.

I agree with you. In this case, the decision is in OP's hands because of course BTC has a fluctuating price so it definitely poses a risk and of course it requires strong courage to put OP's investment profits in Altcoins to btc because of course only those who dare to hold BTC for the long term can will get big profits. So of course everything is not without risks.

Indeed, buying BTC when the price is high is very risky because of course there will be a correction which of course could be a big correction or a small correction. The point is that in this case, buying BTC also requires calculations and waiting for the right moment. but for those who want to invest in BTC for example for 15 years or more, of course there is no problem because they will certainly have the potential to encounter very high BTC prices in the Future.

It seems that exchanging Altcoins for BTC is certainly a good idea and OP can make a good profit if the BTC price rises high. Yes, of course OP still has to be himself and continue to seek insight and information and of course the decision is in OP's hands.

[Psalms23]

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.

Your strategy of taking profits from altcoins at the peak of the bull run and then buying Bitcoin during the next bear market has merit, especially if your goal is to maximize the amount of Bitcoin you can accumulate at lower prices.

[Russlenat]

-snip-

Take note that i do not keep any altcoins in my portfolio. There is no strategy that has proven to be successful in predicting altcoins, how can you trust some developers, when a lot of them have turned out to be scammers in the past, and if you are investing because an influencer recommends the coin, then that is a crazy thing to do. I agree with the point that you can get lucky with a few altcoins if you buy a lot of them, but what if you don't get lucky.

Not all altcoin are trash - some of them can also bring you profit. Just avoid most of the new altcoin created when the narrative is high like memes or AI - but of course I don't recommend you buy an altcoin if you're never convinced it can give you return.

Of course it's not a problem if you only invest in bitcoin - but anyone who diversifies their assets into several altcoin is not entirely to blame. I also own bitcoin and tend to be more confident in its future potential than altcoin - but I have a few percent of altcoin in my portfolio that I at least believe can give me return.

Two heads are better than one, I think that is also applicable when it comes to investment. It’s better if you still diversify your investments like putting some bigger allocation to bitcoin and investing into altcoins with an amount you can afford to lose. That way, when they both succeed, you will gain massive profits from multiple investments.

While bitcoin can be highly profitable in the long run, altcoins as well can do the same, as long as you invest in the highly potential altcoins. That’s why in-depth research is a must, so that you can make good decisions towards investing of your choice, and won’t end up falling into the fake altcoins.

[Gladitorcomeback]

Take note that i do not keep any altcoins in my portfolio. There is no strategy that has proven to be successful in predicting altcoins, how can you trust some developers, when a lot of them have turned out to be scammers in the past, and if you are investing because an influencer recommends the coin, then that is a crazy thing to do. I agree with the point that you can get lucky with a few altcoins if you buy a lot of them, but what if you don't get lucky.

That is like saying you wouldn't eat food again because you got sick by eating a specific food sometime in the past. Just because some projects and cryptocurrencies turn out to be bad or scams, it doesn't mean they are all bad, besides, one shouldn't make investments while having their eyes closed. You can't trust anything with a blindfold on, of course, but if you do your research, and evaluate the whole market, I'm sure you will find some useful altcoins as well.

If you don't like them, it's your choice and I respect that, and I agree that Bitcoin is the best cryptocurrency out there, but I prefer diversification and I know that there are cryptocurrencies apart from Bitcoin that deserve some investments as well because they have been around for a long time and have never disappointed their investors.