Best Time to Sell Crypto?
It’s 2022 and crypto is on the rise. With each passing day, the market is becoming saturated. However, with an informed decision, you can sure beat the rising inflation!
Most people ask, what’s the best strategy? Where should I Invest, how should I invest? When is the best time to sell Crypto?
Before we start giving out our secrets, make sure you know the risks associated with Crypto, and that you cannot come out with a profit every time.
We know you have seen those crazy rich overnight Crypto Billionaires on the internet. Many people fall into the trap of being greedy or expecting too much in the beginning.
I mean think it through! Those Millionaires are one in a million. What chance have you got compared with an average individual?
Yes, we agree Crypto has made people dirty and rich, but do not forget that history is full of hidden examples who lost everything to Crypto.
For starters, learn to invest ONLY what you can lose without suffering. No, we do not mean your savings! We’re talking about leftover income after you cover all your months’ expenses, and also saved a little amount for the long term.
Remember, patience is the key. If you are investing small amounts of money, you need to be extra patient to get a decent return on your investment.
Everything is achievable when you have a clear goal! You are able to create a simple strategy for selling and realizing a profit. Try Cost Averaging for better understanding.
Ever heard about Jameson Lopp? He’s a well-known Bitcoin advocate. We are sure you do not want to miss out on his advice now, do you? Jason highly prefers the SSS Plan. Moreover, you can use this for any kind of Coin.
Have a look at the image below and try to understand the numbers.
- Initial Investment: 530$
- Bitcoin Price: 53,000$
- Rake(the portion you sell): 10%
- Cycle Multiplier(price change that triggers a sale): 1.1, 10% increase in price
- Cycles(No. Of times our trigger occurs): 10
Basically, if you follow this as it is 90% of your principal amount will be left secured. Most importantly, you will have a profit of 557$, not a bad deal if you ask us! Feel free to play with the numbers according to your budget.
Always remember, greed for more money is far worse than poverty! If you want to invest, you need to be logical, ordered, and have a plan and a backup plan. The minute you let emotions or greed come inside of you, it is highly likely that you will suffer.
Make sure you understand all Crypto terms and strategies before investing! First of all, invest in financial education, take online courses, and find an experienced trader! Lastly, good luck with your future endeavors, and Happy Mining 🙂