Do You Take Taking Profit Seriously?
Every time you look at your crypto portfolio, you feel great and that puts a smile on your face. Now when you look at your portfolio, you feel the opposite. Crypto prices can go down, but maybe you did not expect the price would drop that low. Do you take taking profit seriously?
Most of the time, we talk about buying and accumulating crypto. This is indeed a good time to accumulate crypto. Taking a profit is very important and there is no way you can overlook that. Now you wish you would sell your crypto and take some profit.
That time has gone. It would be ridiculous to sell your cryptocurrency at this point. You might have a lot of plans in a bull market and this bear market just ruins everything. Bad news in crypto comes one after another and it shakes the crypto market.
There are huge ups and downs in the crypto market. Many cryptos will turn into dust in a bear market. Seeing some crypto turn into dust makes you feel terrible. The truth is, many altcoins will follow in the footstep of LUNA and FTX. There are frauds, scams, and regulatory crackdowns. It will create FUD faster than you think so far.
In a bull market, selling some altcoins and exiting from your position is the best thing that you can do. If you don't take taking profit seriously, you end up losing not only gain but also the capital that you invested there.
You plan for the long term. You only want to accumulate crypto. If you intend to accumulate crypto, I think it is better to take some profit in a bull market. Cash acts as the king in a downtrend market. You can invest your profit in a bear market to accumulate more crypto. It will help you to achieve your goals faster.
A bear market cannot ruin your financial plan if you plan ahead. If you depend on crypto to make a living, you have to take advantage of the bull market and book your profit. You can put aside money that will support you and make plans about how you are going to use the rest of your profit to make investments.
We all make mistakes, learn and get better. Accumulating crypto is as important as taking a profit. There is no way you can underestimate one of them. Make your plan and execute it when the time comes.
So what do you think about taking a profit? Please feel free to leave your comments. Thank you for reading this post. That's it for now. I'll be back with another post.
About Me
Hi, I am Rezoanul Vibes. I'm a content creator and passionate learner. I write about finance, cryptocurrency, and lifestyle. I'm glad to meet amazing people all over the world.
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