As much as I enjoy this crypto market and am confident about the potential upside movements that are awaiting for us in the following months, I am thinking of a potential bear market that will follow soon after the peak.
I've been in crypto since late 2017 and I've always owned cryptocurrencies, the volatile ones, never ever have I been parked on USDT. I've had this approach due to the fact that I have chased some decent gains from my investments and honestly I haven't cashed out anything yet.
I was thinking today though, what if this cycle would be different? What if the bear market won't be that harsh anymore, considering the developments taking place. What if I'd should finally farm some crypto, even during bear market, what if I'll never have the chance to buy the crypto I hold at the prices I've entered my positions?
What if, what if...
Something in me screams for cashing out everything at some point this year and buying something nice, something fulfilling to make the waiting time worth. I don't plan on spending all my profits on gadgets and other types of stuff, but what's the point of investing and make money if not enjoy the fruits.
On the other hand I was thinking that if tech development and mass adoption will gain more traction, while fiat looses value at the rate it currently is, what's the point of cashing crypto out...
A bit of uncertainty hovers around my investing strategy in crypto right now. I am aware that for about ten years or so, crypto has religiously respected its four years cycles, but what if those won't be the case anymore and we enter another era?
What if...
I am asking you though: are you planning to cash out every crypto holding this bull market, or planning on HODLing some through the bear market as well?
Thanks for attention,
Adrian
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Einen Teil meiner Kryptos werde ich verkaufen, wenn ich der Meinung bin dass wir an der Spitze oder nahe der Spitze des Bullruns sind. Diese ist jedoch noch weit weg (hoffe ich). Den größeren Teil meiner Kryptos werde ich aber behalten und den nächsten Bärenmarkt zum Nachkauf nutzen.
We're not that far from the peak, but we're not there yet either.
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What ? Cash out? You mean - into FIAT?
You must be joking.
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Yes, FIAT. Not joking, but seriously trying to gather some opinions from you guys. It did crosses my mind that at some point I will cash out everything into fiat. Not sure about that anymore seeing at what pace this tech is expanding into our daily lives.
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Why would you do that?
What is the point of going that direction?
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Buy back later during the bear market.
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Market timing is very tough.
Yeah you can do that, but what about the crypto you miss out on while you are on the sidelines.
Like if you sold all your Leo and Hive, you would have no influence on the platform for the time you were waiting the bear out.
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I think profit taking throughout could be ok, it's all a gamble at the end of the day and we have to do what we need to in order to make ends meet in life. If crypto can help with that, I am willing to sell in certain cases
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Thanks for your feedback.
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The question is what do you do when you sell it?
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I have a regular pattern of taking out half of my money whenever there's a bull market and holding in a stablecoin. I ONLY get my money in fiat when there's an emergency or I gave an important need.
The last time I took out for such a need was when I got a phone. Asides from that, noooo. I'm holding out on my crypto or stablecoin to reinvest later.
Also, in my defence, I don't exactly have a fat portfolio.
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Good strategy. I hope you will have a fat portfolio.
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That makes a lot of sense.
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I was pondering the same question myself. I haven’t cashed out yet - I once paid a utilities bill with DASH in the dying days of the 2017/18 bull market mainly because I was curious and wanted to try it.
For me personally I guess the reason I haven’t is for FOMO - I’m fearful of missing out of the sik gainz I might get from crypto. On the other hand I also need to think about ‘why am I here? What is the purpose of this magical internet money I hold outside the realm of reality?
Important question.
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I think you are a bit early to get jittery feet. We still have a long way to go in this run.
Yes there will come a time when things will be different, to a degree. Looking at this from an entirely financial perspective is missing a great deal of the equation. There is so much that will end up tying in this that we will be amazed.
As for the essence of your question, when it is time to get out of the speculation, then it is time to load up on the income producing tokens such as EDS.
There are now tokens emerging which arent based upon purely speculation.
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Chess mate here. I have no clue what that is.
As a mention, I don't plan on cashing everything now. A matter of fact I have not cashed out anything from my long term portfolio. I am trying to get as many views as possible for whenever things will become unreal sort to speak.
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EDS is a dividend token on HE and run by some of the people in SPI as well. The latest payout shows that they are paying around 20% APR right now.
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Thanks for the info.
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One would only be a total DF to do that lol. Getting ahead is why you have crypto and cashing out puts you back with the masses again.
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Kind of. Looks like not many would cash out everything no matter the levels. That's a good metric regarding the recognition phase crypto has got to.
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I think, if my holdings grow to the extent that I can pay off my mortgage, I may do that as a matter of practicality. Suppose you can say that would be my moon if you will but wouldn't plan to sell all if I can help it.
However, I will by no means sell my crypto to hold fiat as considering inflation such would be contrary to common sense and reason.
I wouldn't do that long term either. Was thinking though about the opportunity of buying more crypto during the bear market, but at the same time there's the chance that I won't be able to buy under the price that I entered before the bull market.
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Why not stable coins instead of fiat?
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Having a diversified portfolio is key imo. The longer this bull run goes, the more of my net worth will be in crypto and that can be a dangerous thing. Even if you believe in the space as a whole and fuck I do, there is nothing wrong with taking some off the table and placing it in other asset classes, like real estate or stonks.
Cashing out just to wait for better prices is something I don't reckon you do. Nobody can time the market in that way. You would be turning it into a gamble. With a plan behind it, sure go ahead and take some off the table.
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Me? Nah I wouldn't cash out a penny I can still earn fiat so what's the point of cashing out? And then on top of that I add tax burdens and into an asset that is losing its value, that makes no sense, sure I can spend crypto that makes more sense, but for now I'll be using my bad money until such a time that I need to touch my good money
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Your post was promoted by @taskmaster4450le
I think I would just sell a small portion to recoup my initial investment. I honestly think that having a free trade is better and having no stress is the best way.
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I consider everything input into crypto to be forever crypto money. Now if I end up making millions I may take some out to by physical assets in land and businesses, but to hold fiat, no.
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I understand your thinking about using your gains for something nice.
And I think everyone should understand that money is not an end rather a means.
However, I don't get the point to convert back to fiat either. And I personally won't cash out anything unless there is something unexpected and I need to do so. I might buy something directly with crypto tho, as I think this is also profitable for the development of the ecosystem.
I can be veeeeery patient.
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Patience seems to be a valuable asset for this market.
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Any extreme is wrong. Selling the shirt off your back to invest in crypto, whether in bull or bear market, is wrong. Cleaning each and every of your wallet in order to convert to fiat (or stablecoin) is also wrong.
Dollar cost averaging, whether in order to accumulate your portfolio or take profits, is the most sensible strategy.
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DCA is my approach as well.
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I also entered in crypto in late 2017 and have been holding my coins since then. No doubt that my hiding is in profit now but I think booking some profit is important. Although I have never sold anything yet as I have goal for 2022
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Take the pulse of the market and you'll know when to sell.
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I will never cash out.
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