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[Serious] The day your porfolio hits X is the day that you will step out of crypto- or will you not? Being prepared for different scenarios may help make your decisions in the future.

All Cryptocurrencies

by COINS NEWS 93 Views

Aiming for X

Some of us, if not most, started to purchase crypto with a dream of achieving certain returns. Maybe it was not a specific amount of money, but more of an increase in wealth. For some it is hope for a better future. Normally, you would have some amount of (fiat) value in mind that would lead to you conclude you have "made it".

Patience and perseverence

Only in the exceptional circumstances where you invested in some low-cap coin that exploded a thousand times in value this will not happen, but for most the phase of patience and perseverence is hard and long. When you are able to cut out external noise and hold on, you might end up in the next phase.

Achieving X

Now your portfolio has grown to the level that you wanted or dreamed of when starting investing into crypto. Then the difficulty arrives: what are you going to do? Cash it all out and quit crypto? Cash it partially and continue investing in crypto? Will greed catch up and will you try to achieve more?

Having a plan

I think it would help all of us to clearly plan for scenarios that could happen. What if you reach certain levels, what will you do? Partial profits may be a better strategy. Also, it is likely that because of the amount of time you spent in cryptocurrency you are somehow "unable" to leave it completely. There is some addictive part in it too.

What do you do?

I am curious how you approach this. What is your goal? Is it a specific amount of money or a range of money? And would you leave crypto completely? Or would you cash out partially and reinvest the remainder? Are you actively thinking in scenarios or are you more of a "whatever happens happens" person?

submitted by /u/n1ghsthade
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