How long should I hold my crypto for?

Cryptocurrency is an amazing way to invest only if one is quick to decide or has enough patience to exercise. The reason is that cryptocurrencies are volatile assets( sudden movements in price = financial risk/profit). You can’t win if we don’t play and once you miss an opportunity, it might take a while before a similar opportunity comes into play. I have often been asked how long crypto should be kept and I have always given them a simple answer. Hold as long as you can but never sell at a loss.

I have been trading crypto since 2017 and I can confirm that it’s always easy to say don’t sell but very difficult to practice. This is why I also give out this statement; *Don’t invest what you can lose or the money you may urgently need.

I could remember while I was still in university, how one of my lecturers approached me that he needs to double his children’s school fees with crypto. As it should be, I advised him not to. At that time, BTC was around $12k. Fast forward to some weeks later, BTC rallied to $20k. Hmm, *Was I a Bad advisor? Definitely not. I told him what a no-greedy person would say.

So, How Long of Hodling?

Investment in cryptocurrency, just like other assets, is a finical decision made to earn profits. It doesn’t matter how long the investment takes, it’s best advised to always look out for the right time to take a profit and wait for the perfect time to reinvest.
In one of my recent blogs, I discussed how to invest without stress Dollar Cost Averaging for long term.

However, there are some investors who set time for their investments. Let’s say; a period of 6Months, 1 year, or 5years. In this case, I’ll also advise not to sell at loss and always look out for green days to make a profit even when the investment time hasn’t reached.

Here’s a good example, Do you know that about 80% of cryptocurrency prices today are lower than they were last year? To prove this fact, I will be comparing the top 10 crypto prices this time last year.

Coins| 23/05/2021 | 23/05/2022

• | - | - Bitcoin | $38,800| $30,200 Ethereum | $2,381| $2,033 BNB | $313| $320 xrp | $0.96| $0.42
  Ada | $1.53| $0.54 Sol| $32.4 | $52,39 DogeCoin| $0.35 | $0.08 Dot| $23.41| $10.41 Avax |$19.6 | $31.61 Trx|$0.77| $0.078

As you can see from the table above, the only coins doing good after one year are Bnb, Sol, and Avax, most aren’t doing that bad but a few are more than 50% down already. However, a few months back, almost all of those coins are doing well if not all.

In summary, always take out gains when you’re in profit. Cut out the greed in you. No one is investing to lose. Stay smart.

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