The Big Trading Question ! Is it better to hold Bitcoin or trade other Coins ?
Sometimes I think that trading is a waste of time, because bitcoin is going just up in term of dollars and most other coins are going down in term of bitcoin. I think it's due to that other coins are related to the dollar price and not to bitcoin price.
Let's take an example of steem coin, it's keeping the price of $1 but always going down in term of bitcoin :
Me personally I still keep about 10 coins waiting when they will go up for more than 3 months and hoping that they will go up in term of bitcoin, my mostly if I will sell them all now, I will have much less bitcoin than I had before.
Is that mean that bitcoin will still go much up then other coins and no coin will catch it and long term holders will lose their bitcoin ?
Let us assume that all cryptos will go up (as the dollar falls)
And that you want a portfolio that increases the most in dollar terms.
So, you are betting which crypto will rise fastest.
In this case, you choose three of four good solid cryptos buy and HODL.
Yes, this will not make you as much gains as just selecting the best one, but it will make you MUCH more gains then if you choose the worst one.
Now, if you are trying to trade coins for maximum gains, then you have to time when pull backs will occur. At the time when BTC is peaking, you want to sell your BTC, and then buy them back when the correction occurs. Currently, BTC has had a serious correction once a quarter.
But, there are a lot of people trying to time these pull backs, with little success.
What are the three biggest to buy and hold in your opinion ?
Currently BTC, Bitcoincash and Litecoin. Or ethereum, dash, monero
I think Bitcoin Cash should skyrocket soon. It’s been down trending heavily. As soon as Bitcoin sees a sharp correction, these alt coins will all shoot up. People will pull money out of bitcoin and put it into other coins. I Believe these are all safe bets that you listed, but i think you should throw in a gamble coin to hold. My personal pick would be IOTA to hold. I think it aims to do what bitcoin has done but better,with lower fees. It has already been adopted by major companies.
It’s tangle technology is much better than the Blockchain technology of bitcoin.
I agree, there are several good long shot coins. And, if you can lose the money, go ahead and bet. Of those, Iota looks very solid.
Well, trading is much more difficult and stressful, so that's the point that makes me a holder. Of course, daily trading will earn you more, but only in theory. There is no person living on this planet, that could make profit for 100% of transactions that they make.
I've been asking myself exactly the same question. Really appreciate the explanation that most altcoins are still dropping in price relative to bitcoin. That said, bitcoin has been going through a major boom that can't last forever. So, maybe this is the perfect time to buy other coins?
I don't know but I am seeing bitcoin going that up, it's good for bitcoin holders but not so good for coins holders like me !
Your alt coins will go up when bitcoin hits a correction. It may be a month or so before that happens though. I’m planning to buy into alt coins now while they are going down, so i will be holding onto them waiting just like you
it's good, I hope you are right and the correction happen, because I am afraid that bitcoin will go just up and alts will go just down in term of bitcoin, but you are right it's the best time to buy I think, I didn't choose the right time, I am holding for more than three months without no profit yet :( , I have : lisk, tenx, ark, doge, omg, some bitshares, verge, and siacoin. I hope they will go up someday in term of bitcoin. The only one that I get some profit from it is quatum, but I sell it all.
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If anything, i believe alt coins are ripe for picking right now. While bitcoin is rising, these alt coins are dropping. But this wont last forever. Personally, im looking to get into some alt coins quick
we are all waiting when they will go up )