Hey buddy, I got a question for you. What have you done during the last bull market in 2021?

Some FOMOed in when Bitcoin and Ethereum reached new all-time highs while others sold their altcoins and took profits.

Don`t Forget To Take Profits

I hope that you did not buy the top in fear of missing out (FOMO). In the best case, you sold some of your crypto holdings during the last bull market to secure your profit. However, this is where most investors fail. 

Most people are not taking their time to seriously think about the important question of when to sell but the reality is that if you flew past the moon, then you have missed it.

Finding a promising altcoin investment is one thing but knowing when to sell is probably much more important than knowing what to invest in. 

Keep in mind that you haven’t made any profit or loss until the moment you hit that sell button. All the fluctuation that you see in your crypto portfolio is only happening “on paper”. Only at the moment in which you sell or trade your crypto, you have realized either a profit or a loss. 

The HODL Forever Mentality

HODLing is a great strategy but to HODL forever isn’t so smart when it comes to altcoins. Here is also the biggest misconception among altcoin investors. They tend to get married to their altcoin investments and HODL forever.

If you don’t know when to sell an altcoin then crypto investing is not for you. Bitcoin Maxis say that investing in altcoins will make you poor because most of the TOP 20 altcoins from 2017 are gone to Nirvana already. This statement is based on the misconception of HODLing forever. 

When you buy altcoins in the bear market and sell them in the bull market then you will make huge profits.

This only works if you do not HODL your altcoins like your Bitcoins forever. The crypto market runs in cycles. There are bear markets to invest in altcoins and bull markets to sell them.

Sounds logical but most people buy in the euphoria of the bull market while missing out on the most important act of investing: taking profits.

Missing The Top

The ideal point of selling your altcoin investments would be the top of the bull market but the bitter truth is that you will most certainly not hit the top when you decide to sell your altcoins. You really need to accept the fact that you always going to miss the top and sell your altcoins either too early or too late.

That`s why I believe that real profit is always made somewhere between the bottom and the top. In the end, the important thing is that you are securing a profit and not ending up in any loss.

My Final Conclusion

No one can tell you when the best time to sell your altcoins is. You alone have to make that decision and no one else. In the best case, you have done it during the last bull market. I you haven’t done so then take it as a valuable lesson for the next one.

At the end of my post, I also like to remind you that I may look smart in my profile pic but I am not your financial sensei. 🤓 However, my post really reflects my own opinion.

I hope I could provide you with some interesting and useful information and if this is the stuff that you like to read then follow me for more. 

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