Crypto Market

When you should sell your cryptocurrencies

It is crucial to know when you should sell your cryptos for real money or convert them to stable coins. After all, a few people have invested in crypto because it is an innovation. The majority, including me, want to make a profit. Can it be a quick one, that is the best.

Obviously, the best you have to do is buy low and sell high. But what is low and what is high is difficult to tell in such a volatile and unregulated market. It gets even harder to say when the right time is if we are speaking for other coins except for Bitcoin. Bitcoin and maybe Ethereum and the top 10 in market capitalization.

I was speaking with someone I barely know about cryptocurrencies. He told me these simple amazing words: “I would sell here,” showing me on the price chart of BTC the exact point where BTC has reached the ATH.

When you look at the past, it is really easy to find the best entry and exit points for buying and selling your cryptos.

The truth is that nobody can tell the future and predict the best time for you to sell. But if you have a basic sense of the market, you can make a good profit. First of all and most important, crypto, like any other market, has a cycle. In crypto, it is approximately four years.

So if now is a good time for you to sell depends on when you get in. If you buy the BTC at a price of $65000, the answer is negative. Hold or HODL. Even in the case, this bull run is over, and we’re going into the cold winter with more and more corrections, I bet that BTC price will eventually Hit $75000, $150000, and even $400000 as Bloomberg has predicted. ( To unlikely in this cycle)

But if you bought BTC at $20000, you can sell it and double your money. You have profit and nothing to worry about. Yes, I know what you are thinking. If the Bull run isn’t over, it is possible to see until the end of this year a price of BTC from $75K-$250K (the numbers aren’t my own prediction, but I believe them too).

When you look at the past, it is really easy to find the best entry and exit points for buying and selling your cryptos.

What are you saying Alexandros, I will lose a potential x5 if that is going to happen. Yes, man, I know it, and there is an acronym for that state of mind FOMO (fear of missing out). But what if the bull run is over for this cycle? Are you ready to hold your cryptos even if you could sell them with a 2x profit? Are you ready for the crypto winter?

Another factor that you must have in mind is that the crypto market and the price of BTC are like a bubble. A bubble that in the past, every 4 years pop-up. A bubble is when the price of a stock or crypto or asset goes up parabolic and then drops abruptly.

Now honestly, tell me, what do you see in these two charts? Do you see some similarities? Do you see the parabolic upwards?

We all know where the price had gone after 2018. Where do you think the price will go now? A lot of indicators suggest that the party is over for now. A lot of people believe that we are experiencing a cool-down period and that the price of BTC will skyrocket again soon, before the end of this year.

When we talk about the movement of the price of BTC and other cryptos, everything is possible. Nobody knows the future.

You can implement a variety of exit strategies, but it all depends on your entry point into the market and your expectations. You could liquidate enough cryptos to ensure you get back your initial invested capital and then wait to see what will happens.

You can gamble and wait until the end of the year. If the bulls return, you can make an astonishing profit, but if the bulls never show up, maybe you lose some of your initial capital if you are not willing to wait until the next season.

Another strategy is to sell now and wait until the middle of the crypto winter when the price of all cryptos will be far less than they are now. So with the same money, you can get far more crypto coins. That’s if you believe that the bull run is over.

You also can use the cost average to sell your cryptos. You can plan to sell 10% of your cryptos every week.

Maybe the best is to implement a mix of the strategies. You could use the cost average for selling enough cryptos so that you ensure your initial capital and then wait until the end of 2021. Then again, use the cost average approach to sell in both cases, no matter if we are in a bull or bear market. That’s because you never know when the peak is reached.

If you want my opinion about if the bull run is over, I honestly tell you that it is 50%–50%. I am split in the middle. One part of me believes yes, another one no, as you can read here.

Every one of us has different financial status and different needs. Don’t wait for nobody to tell you what you should do with your money, but, read a lot, listen to many advisers, and take your own decisions.

Hopefully, I give you some food for thinking. Any predictions, any opinions, any advice are welcome in the comment area.

Happy trading!

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