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2020 guy here and took profits today

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by COINS NEWS 63 Views

It has been awhile! June 15th 2022 I switched to buying and not selling my crypto. The rest of that year I rode down the market, and then up in 2023. By early 2024 I was basically out of money to invest. I also did regular posts on what purchases were up, and down, and how Bitcoin was generally outperforming more and more alts through the bear market.

I also shared throughout 2023 my plans I was making on profit taking and trying to reduce risk for myself while also trying to capture those really high gains. It was a "buy low and sell early" strategy. Meaning, that when I get to the point of feeling really greedy I should have probably sold more than half my alts.

First rule that applied across the board for my 25 coins was if any ever reached a 10x, or 900% ROI, then if I hadn't already done so I MUST take back my full principle amount.

Well today I took back my principle in its entirety on SOL with just shy of 10% of my holdings. So a little profits as well.

To everyone who survived the bear market and has been here since the last bull run: congratulations! Aren't you all really excited right now?

To all the newer people, take a long-term view at this. You could get lucky and have an altcoin go to moon, you might pick a project and only be up 300% in 6 months. Try to have a plan. Try to take back your principle. Wipe out your debt. Keep an emergency fund that is readily available.

If the Bitcoin Strategic Reserve Bill gets passed (which, every level of government involved in the process is majority pro-Bitcoin) then this bullrun might be truly bananas. Capture those gains people, don't let them fall away from you.

submitted by /u/LoquaciousLethologic
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