03-13-2021, 02:38 AM
Don't Forget to Take Profits in a Bull Run
<!-- SC_OFF --><div class="md"><p>I've seen a few bull runs in my crypto days and they're exhilarating. It's not the making money that I like but the <strong>feeling smart</strong>. Your bags turn into assets and your assets turn into golden eggs. Your Delta keeps pinging with updates - +5%, +15%, +33%. </p> <p>At times like this, you see your portfolio going up and up and up until the numbers become almost meaningless. Maybe once you said you'd sell when BTC was $20,000 but suddenly you're hodling for $200,000. Let's face it, even then you'd be waiting for $2,000,000... </p> <p>Over the past five or six years, whenever I've gotten money, I've thought to myself, "I should put this into crypto," and mostly I have. I'm not a flashy person. I don't give a fuck about lambos or Teslas or any other car for that matter. I just want to do something with the little money I earn.</p> <p>So when my portfolio jumps, I think, "I should sell a little and take profit!" ... but then what do I do with the money? A week later, I put it into some new crypto. Something smaller, more volatile. Something that will make me feel smart when it goes up 200%. </p> <p>And in this market, <strong>everything</strong> goes up 200%. It's like shooting fish in a barrel. </p> <p>The thing is, I got burned like everyone else in 2017 because I held to the top. I bought XRP on day 1 and turned $100 into $3,500. But I held all the way back down because I kept believing that "it's just a dip" stuff. (For a better discussion of this, see the post from yesterday about boiling frogs.)</p> <p>It sucks selling out some of your crypto, especially when you don't need the money right now. It feels like a waste. This bull run, I've sold a little BTC at $17k, $23k, $28k, $37k, and $57k. It hurts a little to know that I sold any BTC at $17k but you know what? I don't regret it. </p> <p>Yeah, it's now just fiat but the end of this bull run could come in 5 mins, 5 days, or 5 months. We don't know. No one knows. When it comes, though, I want to know that I've taken a little profit. Maybe I'll pay my rent for a few months... maybe I'll buy more crypto when the market inevitably tanks and we seem to have hint a new bottom some years from now. But along the way I'll take profit and do something with the fiat, and I recommend you do too. </p> <p>Hope this post wasn't a bummer. It wasn't meant to be. I fucking love cryptos and I'll be hodling some of my favs for years and years to come, but if you view these as a financial investment of any sort, then you'll want to cash out a little here and there on the wild ride up.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/bestmindgeneration"> /u/bestmindgeneration </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/m39ljj/dont_forget_to_take_profits_in_a_bull_run/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/m39ljj/dont_forget_to_take_profits_in_a_bull_run/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>I've seen a few bull runs in my crypto days and they're exhilarating. It's not the making money that I like but the <strong>feeling smart</strong>. Your bags turn into assets and your assets turn into golden eggs. Your Delta keeps pinging with updates - +5%, +15%, +33%. </p> <p>At times like this, you see your portfolio going up and up and up until the numbers become almost meaningless. Maybe once you said you'd sell when BTC was $20,000 but suddenly you're hodling for $200,000. Let's face it, even then you'd be waiting for $2,000,000... </p> <p>Over the past five or six years, whenever I've gotten money, I've thought to myself, "I should put this into crypto," and mostly I have. I'm not a flashy person. I don't give a fuck about lambos or Teslas or any other car for that matter. I just want to do something with the little money I earn.</p> <p>So when my portfolio jumps, I think, "I should sell a little and take profit!" ... but then what do I do with the money? A week later, I put it into some new crypto. Something smaller, more volatile. Something that will make me feel smart when it goes up 200%. </p> <p>And in this market, <strong>everything</strong> goes up 200%. It's like shooting fish in a barrel. </p> <p>The thing is, I got burned like everyone else in 2017 because I held to the top. I bought XRP on day 1 and turned $100 into $3,500. But I held all the way back down because I kept believing that "it's just a dip" stuff. (For a better discussion of this, see the post from yesterday about boiling frogs.)</p> <p>It sucks selling out some of your crypto, especially when you don't need the money right now. It feels like a waste. This bull run, I've sold a little BTC at $17k, $23k, $28k, $37k, and $57k. It hurts a little to know that I sold any BTC at $17k but you know what? I don't regret it. </p> <p>Yeah, it's now just fiat but the end of this bull run could come in 5 mins, 5 days, or 5 months. We don't know. No one knows. When it comes, though, I want to know that I've taken a little profit. Maybe I'll pay my rent for a few months... maybe I'll buy more crypto when the market inevitably tanks and we seem to have hint a new bottom some years from now. But along the way I'll take profit and do something with the fiat, and I recommend you do too. </p> <p>Hope this post wasn't a bummer. It wasn't meant to be. I fucking love cryptos and I'll be hodling some of my favs for years and years to come, but if you view these as a financial investment of any sort, then you'll want to cash out a little here and there on the wild ride up.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/bestmindgeneration"> /u/bestmindgeneration </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/m39ljj/dont_forget_to_take_profits_in_a_bull_run/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/m39ljj/dont_forget_to_take_profits_in_a_bull_run/">[comments]</a></span>Kind Regards R