Because of the huge rise during the last months, I decided to sell 25% of all alts I had.. that were Monero, IOTA, ETC, ETH, BCH, EOS and NEO (probably I'm forgetting some). There are two reasons why I sold them.
Reason 1 : Huge ROI feels to good to be true (and unnatural)
Increases of multiple 100%'s weren't rare at all so in my opinion it is a good time to play safe and eventually take a little profit. Do not forget, no profit/loss is real until you take it!
Reason2 : I took back my initial investment
I got gently into crypto from april this year with very small amounts since I wasn't that 'crypto-educated' back then. Now that too much stupid money is coming into the market, alts have been hugely hyped for the wrong reasons. I sold my initial investment on Monday and I think it was a good decision. Especially regarding what happened yesterday... Do not understand me wrong, I still believe (partly) in crypto's, that's why I only sold 25%.
In fact, I feel like I got all alts for free. Even if they all crash to 0 tomorrow I don't have any (financial ;) ) losses!
Did you buy/sell some alts last days/ weeks?
source: pixabay
There's nothing wrong with selling and taking advantage of the huge pump.
25% seems reasonable. The old trick is to sell 20%-30% each time the price doubles. That way you benefit both, by cashing out and enjoying your "hard" earned $$$ and by seeing your portfolio increasing (in $ terms) over long time.
Fantastic strategy! I on the other hand am still riding the wave of volatility until we see mass adoption :-D I plan on taking some profits in the near future but right now am just letting it ride!
Thanks man! You are from the principle: 'you go hard or go home' :p