Is this a good time to position in alts?
Is this a good time to position in alts?
I’ve been buying a lot of Bitcoin since 2022 and 2023, and I’m up 127%. I’m considering converting 20% into some top 20 or 30 altcoins to try for higher returns, then putting it back into Bitcoin once I get 50-100% profit.
I know Bitcoin will win in the long run, but shifting to alts now, with ‘Uptober’ and the US election coming, seems like a no-brainer.
What do you think?
No plans to hold them long-term though, probably just this year’s Q4. Just trying to get that small steroid boost in my portfolio. 100% Bitcoin is still my long-term plan.
To be honest no one can really tell, but historically at the point in the cycle it would be a good move. It may turn out not to be but one thing is certain, if you make 50%-100% profit (above what you would have with Bitcoin) then convert it back to BTC. most alts will wither away after outperforming Bitcoin. Lots of notable exceptions but also an endless amount of alts that have not!
Just take your profits and see it as an opportunity to acquire more Bitcoin for the long term.