MultiversX Tracker is Live!

Bitcoiners, have your roadmap ready.

Bitcoin Reddit

More / Bitcoin Reddit 70 Views

Guys, we are approaching the last phase of this cycle and every time when people say this cycle might be different..... it probably will be the same.

Have your plan ready, without a plan you basically will sucked up into the bear crypto winter. Do you have a plan? First it is probably wise to think if you need cash/fiat liquidity for the coming 3/4 years. Second is how high is your risk tolerance? Can you survive a -70% portfolio decrease? Mentally as well?

Draw a risk profile, as a lot of bad actors like last year cycle will appear and come out. Will it be Binance, Kraken? or even an ETF fund? Maybe even some hardware wallets will be compromised. Nothing is sure for now and new surprises will definitely occur this cycle.

Double check your exit plan and KYC for those platforms. Make sure you add the wallets for your exit plan. Some have a 24/48 hours anti withdrawal function in place. You can easily loose 50% of the amount if you need to wait for another few days or if you still need to update ordo your KYC.

If you decided to sell, make plans ahead. Sell it in USDT to buy back cheaper more easily? Or in Fiat to use the money to benefit your life? Just don't forget the applicable taxes in your country! Also make sure you know for what price you want to sell in advance. Making decisions on the spot is usually the worse and most expensive to sell at market price.

If you decide to Hold, make sure you have enough financial power to survive another cycle (or maybe keep in mind you can loose it all) Nothing is guaranteed at this stage yet, but the % are highly increased that Bitcoin is here to stay.

It is always for all the holders, that you sell voluntarily in a bull market then you are forced to sell in a bear market because of liquidity issues.

Although the last phase can be longer then a year. There are certain key moments where you need to decide whether you want to hold or sell. Bitcoin maxi will tell you to hold and promises you higher returns. Altcoiners will make you look at other coins for higher profitable returns. But at the end it is all you who will decide what you will do.

As a Bitcoiner from 2013 I can understand you want to take profit because I did that as well back in 2017. I never regret selling as it benefitted my life! But I also rebought all the way up until last week. If you sell, I hope you will only sell what you need, as it is useless to keep fiat on your bank account untouched. In my opinion, Bitcoin will go up forever, maxis are not crazy. If you think they are crazy. History has proven otherwise. Most of the predictions of the maxi has become reality. So they might as well be right as Bitcoin is the financial end game in this world.

submitted by /u/inhodel
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑 Crypto.com🟑 Gate.io🟑 Huobi🟑 Kucoin.



Comments