This is exactly what I've been thinking about. I'm new to the crypto market (just 2 months). But I've had some years of experience in the stockmarket and commodities. There are times when I'd want to "be in cash". Easy with the conventional markets and whatever fiat they use. But "being in cash with BTC" isn't quite like with fiat.
August was a very good month for me. Maybe it's beginner's luck(?) But I've taken profits from coins like Rise, Navcoin etc. "just in case". Now BTC has gotten to a new high AGAIN. All well and fine. But when others are exuberant, I'm also rather jittery. Am seriously considering to put in Tether for a while until I see "more reasonable" prices.
If you're new to crypto in the last 2 months then it's been a pretty good time, but it's actually been fairly measured gains. When things get crazy we see serious panic and greed play out to a level I've never seen in any stock market. At the moment some of this rally is about FOMO (Fear Of Missing Out) and my target for BTC is $5K so I did actually pull some out into Tether last night.
Good luck with your trades and please make sure you read up about Tether and fully understand its risks before moving any funds there.
I pulled a bit out too some hours ago. When BTC was at $4,950 and many people were looking for it to "break past $5,000". But I got nervous.
Didn't buy Tether although I had planned to. Instead, had sent it back to another exchange and sold for fiat (Ringgit). Yeah, the associated costs. Including the 0.001 fee at Bittrex. And I might have to buy BTC again in the near future, and possibly at a higher price. But doing that does help with some peace of mind.
Well done. Sounds like you made a wise move to me. Certainly the market is showing some red at the moment and a pullback was due.
If you've got good experience in the stockmarket you are head and shoulders ahead of a lot of the people investing in crypto at the moment. There are a lot of people trying to trade who know little about the technology nor how markets behave.