So you've made profit and now you're unsure on when to take it out. These tips may be useful ⬇️
When Should You Take Out Your Crypto Profits?
First things first, there's no sure-win formula to time the market, and that's why we would always recommendfor long-term investing. If you are looking to sell your crypto to lock in profit, do your own due diligence to understand the long-term value of the coin. Sometimes, especially if it's a coin you believe in, you could consider HODLing.
Moreover, we recommend focusing on optimal gains. After all, it's impossible to time the market perfectly, and we don't need to hit a home run each time to grow our portfolio substantially. Instead, start taking a portion of your gains in the 30% incremental range. Instead of waiting for a 50% or 100% incremental gain, focusing on a smaller increase will ensure that you won't be caught in a demoralizing 20% to 40% correction that can hit the rapidly shiftingAnother benefit of focusing on optimal gains is that you can compound those gains by shifting those profits into other coins that are just starting a price run.
Since the crypto market is volatile, it's advisable to place your sell order fractionally based on the market climate.
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