As they always say "whatever goes up must come down" i am sure that the phase we are in now. The idea of investing is to make profit at the end of the day, so now we can safely say it's time to take profit on BTC, ETH and BNB. This year proved to be a good year for the crypto market as people invested heavily in it and the total crypto market capitalization is $2,052,047,184,153 and with a daily transaction turnover of $281,040,835,447.
Rule of Economics and Investment
The rule of investing is always buy low and sell high, BTC reached an all time high of $63,000 and today the price is sitting at $57,000 its a sigh that investors are now offloading their positions to the rest of the market. The most problem with a lot of investors is whenever we see the price going up we just jump into the ship without assessing the profit taking levels so at times we will buy high and the price will fall then some will panic and sell at a low then the same investors who sold to us will buy again from us and repeat the process. So if you are to buy bitcoin now its a bit trick you have to wait for the price to find its support level then you buy to avoid disappointments.
On the 16th of April ETH hits its all time high of $2,547.56. If we look back starting on 1 January 2021 we can see that ETH was worth $737.71 per coin but now it sitting on $2,274.93 per coin, we can see it tippled it opening price. If someone had bought 10ETH coins on 1 Jan for $7370 today that person has $22740 that $15370 profit about 3 and half months. So investors are now selling it off to late comers then push the price lower and then buy later so i thing its now the time to offload your coins and buy stable coins waiting for the next phase.
Binance is the highest gainer of the above 2 and it opened the year with a value of $41 but now its current price is $480 per coin that 11 times gain. With that we can see that BNB is a lucrative investment and worth looking into with an all time high of $638 per coin. It has a high market capitalization of $74,253,080,431.76 and its a good sign, its well adopted by the investors and there are higher chances that it will surpass Ethereum in the near future so it a good idea to have it in yo portfolio.
Since the price is now dropping as investors are taking their profits we just have to stand aside for a while till the price is right then we jump into the ship to avoid buying something which is falling we wont enjoy the full benefits of it.