Post
Topic
Board Trading Discussion
Re: BTC to Tether for percentage gain
by
Cryptomultiplier
on 02/04/2024, 15:54:12 UTC

Question
HODL is common practice with many Bitcoiners but has anyone braved the risk of changing out BTC for a stablecoin to then change back into BTC when the price has significantly lowered to gain percentages?

Personal Experience
I have held & traded, personal view is that the trading aspect is exciting (within reason) as it yields percentage points. Having a risk assessed figure in mind then switching out to wait for the prolonged market decline to join back draws very few negatives from my view.[/center]

It is a good opportunity you have found for yourself, giving that you can think out this way of trade that's going to favor you and your investment. It could perhaps be the building blocks on which your trading knowledge grows.

If you try out this method of selling and buying, you should also know how to scalp out your profits or better still, transfer them to a cold wallet so it doesn't get lost in trade incase you encounter loss.
If you do get stuck after selling your fiat to another currency and because of the sudden price movements you can't buy back BTC, it would be wise then to HoDL and accumulate separating your gains from the capital you intend to trade with of course.

Try to also employ technical and fundamental analysis of the market to see which is the best time to trade and to HoDL for longer.