For First Time in 8 Months...Taken Some ETH Profits | Vlog #101
Since I bought my very first Ether back in February/March, I've never sold a single one for cash (£-GBP). Until now.
In spite of all of the bullish sentiment right now, it's worth remembering that nothing is guaranteed in this market, and that this is still a very high-risk, speculative investment that in theory could crash to £0.
Therefore it's essential to draw up a plan and decide when it would be wise for you to take some profits off the table.
That's what I've done, and I'm sticking to that plan. Even if the market is expecting some great price movements over the coming days/weeks.
To the moon!
this is very nice post
Thank you very much :)
Your welcome.. 😁
What a great way to mitigate risk in a volatile system. Thanks for sharing.
Cheers Kevaton!
@louisthomas you've hit the nail on the head! With all this technology being so young, it so hard to predict what might happen in the future. Alex and I are regularly discussing this and If i'm honest, I think it makes investing that little bit more exciting. It's about understanding when to pull your investment and skim your profits off the top.
I'm a big fan of your content and you actually got a mention in our last episode of crypto Nights. :)
I've mentioned this in the past, but I don't think you picked up on it, but the offer still stands ands we'd love to have you on our show, to have a chat and discuss all things Crypto. If your down can you get back me at [email protected]
Up-voted
Anton
What if one bought ETH for BTC. Lately ETH has been going down vs BTC. Do you think ETH will outperform BTC over the next weeks or months?
Would you sell ETH for BTC now?
Thank you!
Thanks for sharing your thoughts Thomas! When investing it is always a good idea to feel good about every decision you make. I think that taking some profits will give you the chance to take better decisions in the future.
I keep thinking that I should remove intial stake but at the moment I do not really need the money and so would likely reinvest into something else that might be more or equally speculative anyway - bad move perhaps. Also I have read lots about compound interest etc and this is too powerful a tool for me to subvert without a very good reason. Luckily I also have 2/3 of my money in equities which are less volatile and an independent asset class and should prevent penury in even apocalyptic times.
Check out RIOT and BITSC for some great equity positions.
When I invest in crypto I am always looking to get my initial investment out if the price rises. That way I don't stress about it and won't be gutted if it blows up and crashes.
What do you do when all you have invested is their money, ie, you've recovered all your initial investments and you're positive $50K?
I love following you on YouTube. Excited to connect here on steem also. Still getting the hang of all the features here.
I put 48 ETH into BTC when ETH was 300 and BTC was around 7000 because I was tired of watching ETH languish while BTC rose. If I would have left the ETH alone I would have $2800 more. Hindsight is always 20/20. The only time taking profit on a coin or a stock is really profitable is when you can get back in lower, (you have charges to sell it, buy it and pay gains on it) or when it tanks forever. ETH does have an MO for dropping significantly. Maybe I'll sell some BTC at $10K and get back in to ETH or one of the other 28 alts I own. Keep up the good work Louis!
Interesting post, your views are always wise and detailed, and I agree with that too, Ethereum is for me the successor of Bitcoin, I mean you have to read their whitepapers to understand it, Bitcoin was mainly to launch the crypto world, and Ethereum is smarter, has more contract options, to avoid scam, and faster transactions. That doesn't mean Bitcoin will fall down, it will stay up for quite a time, growing and sometimes going back a little as this seems to be its pattern, but Ethereum has more room to grow.