Strategies used by cryptocurrency hodlers tend to differ from a person to another, however, they all fall under two main categories. The first category is represented by traders who prefer trading, whether it's day trading or swing trading. They are always looking for opportunities to make profits here and there. The second category is represented by investors, that's the category i will be talking about in this article. Cryptocurrency investors care only about market's big moves. They try to buy at the lowest possible point, then they wait as long as necessary for the right moment to sell.
So when is the right moment to sell?
If you have invested in cryptocurrency somewhere between mid-2018 and early 2020, and picked a promising cryptocurrency, then you are more likely to make huge profits in the next bull market. But, when should you sell? Is it when your cryptocurrency value will go x5, x10 or maybe x100?
Let me clarify this point, it has almost nothing to do with how high the value of your cryptocurrency will go. What matters the most is the overall situation of the market. You can make a x10 and sell, that's awesome! But it could be just the beginning of an incredible journey for this cryptocurrency and you will no longer be on that train.
The right moment to sell is when everything goes crazy around bitcoin and cryptocurrency, and you notice the following signs:
1- CNN and BBC and financial tv channels will say that investing in cryptocurrency is the deal of the century.
2- Financial newspapers will only share positive news about crypto, and will call it a revolution.
3- Your family that had no idea about what you were doing with your bitcoin stuff, will come and ask you questions about cryptocurrency.
4- More and more amateur people get involved, and will spread non-sense about promising shitcoin projects.
5- ICOs, IEOs or any other formula to raise money will be successful.
When you notice the before-mentioned signs, get ready and wait for the bull run. Prices will go crazy for a few days or weeks. Everyone will tell you to HODL....It is the perfect time to SELL.
Last but not least, don't get emotionnaly involved with your investments. If you know deep inside that it's the right time to sell, then just do it!
