A few months ago, I made a video talking about my action plan in the case of a prolonged bear market for cryptocurrencies in 2018.
I thought I would follow that up with a video for the opposite scenario, discussing what I'd do if we were heading into another great bull run in 2018 and beyond.
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
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I'm starting to think the next bull run is like the rapture: whenever anyone predicts a date, then the only thing guaranteed is that it WON'T happen on that date. That said, I believe the market will turn around at some point.
If we were in a bull market instead of downtrend as we are now I would start scaling out just a portion of my investment. For example, if I invested $10k and now my profit increased by 3 folds I would cash out 10k. I would put it aside and wait until we get another correction to invest those 10k back. This way I can loose only my net profit. I would just let it ride up to the moon 🌚 lol. Until then I’m not touching it. There is not much of a history in overall crypto when it comes to price action. However, if you look back since 2009 you can see there are cycles somehow repeating them-self. For example compare year 2011 with present. I don’t believe there is going to be bull market forever, neither bear market. There is always going to be correction, no matter what.
Great chart!!
Lindy effect for Bitcoin is certainly favorable. It can probably outlast most crypto's out there.
When the alt's rise and FOMO sets in, it always carries the risk of making an investor a bag holder. Since most of my investment is in altcoins, I know this well. While BTC and ETH fell around 60-70% from ATH, the altcoins have fallen hundreds and even thousands of percent.
When you mention the fact that a lot 'big guys' have turned the alt coin market into a game for making more fiat, it makes me wonder why more people are not speaking about it because it is certainly. By people I mean prominent names in the cryptosphere.
I do agree with you. If you get nice profits in alt-coins, take the profit and one of the options could be to reinvesting it in to bitcoin or just hold in cash and wait for another opportunity. However, there is always a chance to miss the possibility for profits to go even higher. Perhaps partially to keep in cash and partially to reinvest it immediately. Not everyone goes all the way with the whole basket when it comes to investment, but as long as you have your plan and mind set I completely understand.
For me the difficult thing is to know in what moment to invest, at this moment the cryptocurrencies come from a very strong correction and we do not know if their recover will be by the end of 2018 or a few years later. If I invest my fiat now and the market don't go bully i'll cry a lot
price is falling keep hodling
Don’t go all in on an investment.
This market is extremely young and volatile. No matter how many people claim to know the future, I promise you—anything can happen.
You can 100x in your first couple of months, or you can lose 90% of your principle investment.
Cryptocurrency is a high risk/high reward investment. You have to be prepared to accept the risk.
Getting ready for some real investment before the next bull run possibly after the consesus. This is gonna be a game changer
Well a bear wont last forever, ild just wait it out as you have said, this time,and when the bull hits, i will spread my crypto wings and acquire some more cryptos then, and ofcourse depending on how much the bull is i might just get a lambo, but one has to be prepared for both.
I'm half in it for profits and half as a tech enthusiast. There are so many projects that I find exciting. During this current dip, I'm hoping to buy NEO and ICON. I think you said in your video that you're not into NEO. Any reason why?
I'm ready for another bull run as well. I want to be more disciplined exiting small positions on big moves up. Regret not unloading at the heights.
I'm a bit disappointed that we didn't see a rise over consensus week. Now I'm not so sure that we're gonna see a bull run in the second half of the year. Anyway, I'm still building my portfolio. There are some alt coins that I still want to get into.
For the possibility of a bull run, I'd start to invest in more coins.
That's best course of action right now
Well cryptocurrency investments Is for the strong hearted, it will be a bit out of tune though, bitcoin seems to control everything, buy well you should invest
I like the plan and I would probably do something similar to that. This is what I love about steemit. A lot of smart people I can learn from. Thank you!
We need to hold the coins we have in the meantime since it can arrive at any time, it's just a matter of time and patience, although BTC has been low the last months compared to when it exceeded 20k.
why this is happening
My action plan is very similar to yours. I fortunately diversified my holdings early this year before the bear market got bad. It allowed me to bring holding around 20% of total invested assets in the cryptocurrency space. I have diversified but concentrating mostly on bigger and established assets that are delivering accordingly to their roadmap. Although I look at ICOs, I do not really participate given the high valuations due to the hype and because of the regulatory uncertainty currently present.
Congratulations@sir... very looking strong bull photography Post...
I hope your next plan will be good.
I'm hodling most of what I have right now, which isn't much, but it's doing well compared to when I bought in. I feel comfortable hodling those for now. I'd like to add to Litecoin though. Maybe get a few more NEO, but considering I don't have much, I'm content with what little I have now and look forward to seeing it grow for my future projects. It's an investment to my own future.
Oh, by the way, I always find myself kind of dancing or swaying to your outro music. I love it.
Respect your view, clearly you've thought long about it. For me personally, I think targeting BTC and ETH for almost all of your crypto portfolio is a bad idea. BTC as a store of value maybe, but ETH only leads the blockchain platform space for now, EOS and IOTA might become the leaders in the next few years; the tech is better. Also, we cannot discount how important a role governments will play in the future, and those that have a somewhat centralised position like XRP, XLM etc might end up being the biggest gainers here; don't give up on XRP just yet, they are the most credible company in the crypto space, even if many believe the underlying tech isn't the coin, but other services they offer. Again, respect your position though, in a way, I wish there was one cryptocurrency so we could just invest in that, but don't believe BTC is it.