The problem with taking profits...

Taking profits is often a recommendation in all forms of investing. You made an investment, it reached a point of making a good return, so you should reward yourself for making a profit by taking them.

Seems simple enough, but there are so many variables to what to do with those profits. Do you take the cash and pay bills, buy yourself something nice, or reinvest in another project?

Also, how much profit is the threshold for taking? Do you wait for a 25% gain? Or hold until it doubles? What if it goes 20x in six months?

I've never actually taken a profit. By that I mean I haven't taken anything and removed it from the market. I always feel there will be another run. The next pump could be astronomical.

And what if I take out a profit, but then the coin keeps pumping? I got some nice gains but I've ruined potential for higher gains.

The last point is the hardest for me to reconcile. Being that crypto is cyclical, it's hard for me to remove my holdings because the next pump could be higher. The volatile nature and constant market growth tells me current ATHs will be broken, again and again.

I think in this infancy (or adolescence?) of crypto it is foolish to take profits because the market as a whole keeps growing. Taking profits when BTC went from $100 to $300 seems really dumb today. What if BTC is $400,000 in another 10 years? You'd kick yourself for not keeping your coins you got at a $50k average.