Ninjastic
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Board Speculation (Altcoins)
Re: sell bitcoin to buy fiat or altcoin?
by
drachman
on 10/01/2020, 04:22:46 UTC
Quote from: bitkanu on January 05, 2020, 01:49:00 PM
Quote from: drachman on January 05, 2020, 03:39:40 AM
Quote from: agentx44 on December 28, 2019, 04:20:59 PM
Quote from: millgates on July 24, 2018, 10:27:20 PM
We all always seek profits in cryptocurrency trading, if the price of bitcoin soars, will you sell it to buy fiat or altcoin? If you buy altcoin, what is the altcoin that you will buy?
I think it would depend on the situation, if ever altcoin is on a good condition and price, I would prefer buying some of it. I would find good altcoins that has the potential of being successful in the future. If ever altcoin is not in a good condition or it is very difficult to find a good one to invest with, I would convert some of my earnings to fiat, not all of it, cause I would rather hold it still on bitcoin and wait till it goes high again. In terms of altcoin, Eth would definitely be the one I'll buy cause I know its potential.
No strategy is perfect and what I do not like from that strategy is that you are risking you capital in coins which we do not know if they will be successful, it is true that you can obtain more profits with altcoins but you can also get greater losses and the chances you obtain more losses are higher, so it is better to take the safest approach and just buy bitcoin and keep holding it for as long as you can as most likely the bull run will come in 2021.
Ah even if you are investing your money on bitcoin and you still have a chance to get lose caused by the volatility of the market Remember when you are wanna get the decent profit and you must put your capital into the risk. There is no place that is free from the risk when you are facing the cryptomarket which is really volatile.
Of course, all investments have some risk, but the risk that you are taking by investing in bitcoin is many times smaller than the risk you are taking if you invest in altcoins, even good altcoins are not giving profits at the moment and that is a problem, because if even the good altcoins give no profits what can you expect from coins that are not as good or that are relatively new, so when I take everything into account bitcoin is by far the superior coin to invest in the market.