Booking profit is necessary to build portfolio in crypto world
Crypto market is undoubtedly one of the most volatile market of the world where pump and dump is part and parcel of the market. There was a time when crypto market global was about to touch $3,000 Billion but now it is struggling to achieve $1,000 Billion. Almost more than two third investors equity have been wiped out from the market.
New investors come in the cryto world to become millionaire but majority of investors failed to achieve success in crypto market. One of the main reason of not getting success in crypto market is not booking profit. Yes booking profit is very important in crypto market. Remember bird in hand is better than two in a bushes. It is important to remember that your profit is useless unless you book it. Dip in market will convert your profit into loss.
Best philosophy in crypto market is to withdraw your initial investment. It will give you sense of satisfaction. It can be possible only if you book your profit in crypto market. One bad news may convert your profit into loss. There is no need to panic if your profit is small. It is still far better than big dip. Majority of user who don't book the profit end with big dip.
I still remember that I bought SLP at higher rate, once my investment was in profit but I didn't book a profit in time and now my holding on coin is just a single figure which was in four digits when it was in profit.
Another point which is need to remember is that keep your asset in stable coins like USDT, BUSD and USDC etc. Stable coin will keep your asset safe and give you buying opportunity when market observed another dip.
Remember, these is no single success formula in crypto world. Adopting multiple strategy according to the condition may help to build portfolio in the market. Nothing gurantte in crypto market but a few wise rule like never invest in single coins, invest in couple of installment, book your profit may help to build portfolio in crypto market. What is your opinion my friends?
This is it for my today post. Wish you all a very happy, healthy and prosperous life ahead. Have a nice time.
It's important to take profit. It doesn't matter if it's small, better than losing more when it dips !
Rightly said. Thanks for stopping by and sharing your thoughts. Stay blessed
A lot has changed in the world of crypto but one things remains true not just for crypto but every asset class and that is to take profits. For one it lets you check how robust the system is and secondly it is important to take some part of your initial investment back as profits.
Well said. Thanks for stopping by and sharing your thoughts. Stay blessed
By following a budgeted approach and using dollar-cost averaging, you should be able to maintain your crypto investment portfolio's overall stability while still profiting from the growth potential of your stable coins .
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