Post
Topic
Board Bitcoin Discussion
Re: Converting altcoin profits into Bitcoin?
by
Yatsan
on 10/06/2024, 16:00:55 UTC
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.