Quote from: JamesDaniel90 on Today at 02:22:15 PM

Quote from: Almasani on March 28, 2023, 10:32:17 PM

Quote from: JamesDaniel90 on March 28, 2023, 10:56:41 AM

I have decided I have too many altcoins in my portfolio and want to convert up to half of them into Bitcoin but I am waiting for the next pump like we saw in January to do this as don't want to convert while my altcoins are 20% down.

If you wait for altcoins to recover, it's the same as waiting for Bitcoin to recover. If you convert to Bitcoin, then you will get the same amount of Bitcoin as now. Because altcoins will also grow based on Bitcoin.
This is different when you convert to stablecoins. You will get different results if you convert now and you convert when the price goes up.

This is not always 100% true - I hold Quant and it pumped last October while Bitcoin was moving sideways and I should have sold then but didn't as it is one of the altcoins I believe in most and want to hold long term.

Looking back I should have took some profits though as I was over 2x at the peak of that rally in October. I am just waiting for something like this to happen again with either Quant or one of my other altcoins and when it does I will put a lot of the profits into Bitcoin.

Perhaps it's just one instance wherein it was pump due to hype or some positive news about this project. I don't have anything about it, might be really solid and I also can't say about you not wanting to sell during the pump and I hope that you have learn your lessons from that x2 increase and your possible paper profit by that time and yeah, it could be good hold. Because the altcoin season is not yet here. It might take another year or so, right after the block halving. And far as history goods this is the catalyst for a massive bull run for bitcoin, so in any case, the pump will trickle down and have a domino effect on most of the altcoins, and again who knows, maybe your Quant and others in your portfolio will have a massive increased that time so keep on holding.