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Quote from: Mate2237 on May 20, 2024, 09:02:43 PM

I sold some of the percentage of Bitcoin to invest in Ethereum and I can see the loss I made from the investment. I invested in Ethereum when the price was $3,658 and that is about 4 month now and till now the price has not reached $3,400 and I have sold 20% of the investment as lost price. Jumping from one coin to another is very dangerous. You can lost everything in the process.

And now ETH has hit 3,700 dollars. This means you have made a small profit if you still hold it. Maybe this is not a big profit because you bought it at $3,658. But this proves that if you have a conviction and you use cold money then you can still make a profit in crypto.

Jumping from one project to another is very risky. I prefer to stay in one project but it is a project with good fundamentals because I like to hold coins for the long term.

There is no profit yet because when you buy a coin the buyer will pay you lower than the selling price at that time so the coins would reduce and before the coins will start to make profit is when the price hit $4,600. Therefore for now I am still at the losing side of the investment but the remaining coins will there for years to cone. There is a prediction that Ethereum will hit $10k in this bull run but that prediction is not really impressive because the movement of this coin is not encouraging me.

You are correct, so from my opinion, I think instead of you selling your coins because it's reducing due to price fluctuations, it's better to swap the coins to a stable one. For example one invested in Bitcoin and Bitcoin is reducing in price, it would be wise for the person to just swap the coins from BTC to USDT then wait for the perfect time then reswap it to BTC.
Swapping from Bitcoin to USDT will not take use of your time especially if the Bitcoin is inside an exchange. But selling and buying again will take a lot of time as you will have to wait for awhile so that the vendor can be able to pay, and in most cases, ones you sold your coins you might use the money because it's fiat and fists are easily spent.

No no no I don't don't do that to migrate from one coin to another. No. I invested to the coin because I like the coin so there is no need to swap or convert to another because of the price fluctuations. No cryptocurrency is 100% stable and all have their specific time that it moves up and down. The only stable Currency I know was the National Fiat money but in these days, Fiat money is more volatile like the Cryptocurrencies.

And I will use my country economy to show example. People are buying naira now to hodle till when it rise in price then sell it. And the government is doing that and that is why they don't want to stop the inflation in the country.

Well, what I am trying to say is that instead of anyone selling their coins because of the way Bitcoin's price is fluctuating downward, it's better for them to swap their coins to a stable one. My reasons for saying this is because the time that will be consumed for the person to sell and wait for the Marchant to credit before he will release coins might be too much and if the person who's selling is in a hurry to attend or do something else, he should only swap the coins and keep. Besides, after selling coins into fiat currency, there might be an emergency, and you won't know when you will use the money to solve it. Yes, there's no coin that's 100% stable, but there are some that are 90% stable.

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Swap crypto or sell first, then buy?

Why I am talking about swapping and from one coins to another is because of the topic of this thread.