I have been investing in a bunch of different coins for a while now, mainly BTC, ETH, LTC, and some other lesser-known coins. I have a lot of different coins in my portfolio to stabilize/reduce risk.
I love the gains that these coins provide. I never panic-sell, and always hodl and buy low. That has been my simple strategy.
However, I have a problem - how do I train myself to know when to cash out?
For instance, last night the BTC price was high (18K), and ETH/LTC price were low.
I could have cashed out then, and invested in ETH/LTC, which are seeing a nice pump now.
How do you know when to cash out??
Right now the only time I cash out is when I need to money to buy a gift or something.
You are not really thinking about cashing out you are thinking about rebalancing your cash allocation, the most conservative approach is to do that once a year decide a date and rebalance your portfolio to your desired amounts and then one year later readjust your portfolio, if you are more aggressive you can do this several times a year that way you will not miss pumps like the one we are seeing now.
My advice to this are the about bitcoin to hold it and it's rate was very high around $17000 and above so when price increase and that only we need sell the bitcoin.You should keep calm and hold the bitcoin and you will get profit if the reaches very high value.Avoid of panic selling,o lose your money.