Is now a good time to sell Bitcoin?

in #bitcoin5 years ago

As Bitcoin nears $3,000 , I wonder if it may be a good time to pare back. And if so, what other coins offer more potential?

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With the current high transaction fees and relatively slow confirmation time, it seems like other coins will gain market share relative to Bitcoin. I would like to see Bitcoin continue advancing because it seems to be the tide that lifts all boats, so to speak. It's rise will almost certainly get more people to become interested in cryptocurrency. Investors looking to get out of fiat currency and get exposure to an alternative asset like Bitcoin probably won't mind the fees or confirmation time but it seems uneconomical for everyday use.

I'm wondering if Ethereum, Litecoin, Dash, etc. would be a better place to invest at this point? Any thoughts are appreciated, thanks!

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Yes there is risk to lose possition and when it keeps going to jump in back! Overall it's uptrend, I would keem my long term possition, but with my short term possition I would buy more when market dips and sell on the tops.

Sounds reasonable. I do plan on keeping a long-term position but also think it may be a good time to diversify.

It is of course a risk in the long-term and the politics are a bit annoying, but I think that in general, the transaction issues are good problems. It means the demand is there.

Good point. It will be interesting to see how and if Bitcoin adapts well to scaling issues.

I think just about any good altcoin is a better investment than bitcoin. When bitcoin reaches $3k it will most probably start growing faster. This in turn will lead to people wanting to look for something else and other altcoins will also start growing, and when both bitcoin and altcoins grow, altcoins make more value. And to top it all up, bitcoin is one of the worst cryptocurrencies technology-wise.

Anyway, always make your investment decisions based on long term prospects, not immediate prospects, because that way you most likely loose unless you know what you are doing by playing the market.

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