Is it time to cash out all your money?
As you may know 1 Bitcoin is worth $2080 right now, according to the Cryptocurrency Market Cap. But I was watching some videos on Youtube and people are talking about a bubble about to pop. The all market capitalization is worth about $71B now, one month ago it was at $30B. Which is a HUGE growth when you know that it took about 4years to achieve $30B. My question is : "Is it time to cash out before the crash of the Cryptocurrency Market?"
But before you get freaked out and sold all your Bitcoins, we need to clarify some points. So I was wondering : "What made this happened?".
And I came up with 3 simple facts that seem obvious to me.
- This INCREDIBLE growth is due in part to all the newbies who just caught the train. Because people are more comfortable to invest now since they know it is not just "Magic money". Many awesome projects are behind those cryptocurrencies and people like the idea to invest in something that can be useful for them in the future.
- The Altcoins are getting more and more valuable. So it is even easier to invest since they are cheap. You are not longer forced to focus on Bitcoin like it was the case few years ago. Some of them could even worth more than bitcoin.
- PEOPLE ARE DOING MONEY ! So when I said to my friends that I was doing some good money investing in cryptocurrencies, they were more than likely to follow my steps.
Over 10million people around the world are holding a material amount of Bitcoin. The math are simple, the more people invest the more the market will grow. But with that being said, experience showed that after any huge spike, prices dropped significantly. So be prepared to face it but personally I don't think it is time to cash out.
Cryptocurrencies are the future!
Great post. When would be a good time to cash out? Follow and upvoted
Personally, my strategy is "holding" when it comes to cryptocurrencies because I bet on the long term of this emerging technology. I do think the market will get way bigger by 2020. I made most of my benefits by holding altcoins on Poloniex, earning money with the automatic sell option. So the good time to cash out your cryptos would be when you need some extra cash, since I think you should only invest money you can lose. Otherwise just hold it till you consider you have made enough benefits. The thing is to have no regrets if you cash out too early!