What % of your stash are you planning to sell?
It might be a brilliant place to sell if we're looking at a 2013 scenario, where we had a mini bubble in April followed by the big blowout in November. The April run topped ~7x above the 2011 ATH, then the market crashed 83%. You'd make a killing on that.
I'm a little worried we're looking at something different though. If it's more like 2017, we could go straight to $300K before the bubble pops. Selling everything at $100K would be extremely painful in that case.
Just something to consider.
It might be a brilliant place to sell if we're looking at a 2013 scenario, where we had a mini bubble in April followed by the big blowout in November. The April run topped ~7x above the 2011 ATH, then the market crashed 83%. You'd make a killing on that.
I'm a little worried we're looking at something different though. If it's more like 2017, we could go straight to $300K before the bubble pops. Selling everything at $100K would be extremely painful in that case.
Just something to consider.
I don't think you should set a price to sell for like $50K or $100K or $500K, you should sell based on what the price is doing.
If you look at the previous bull and bear cycles, there is usually a sharp rejection (2011,2013,2017) and there is a bounce to at least 50% from the top and if you sell then, usually its the highest low before starting the bear cycle.
You can even use fibs. Either 50% or 61.8% fibs would work. So you can either guess and sell everything today at $23K or wait for it to hit like $50K, lose half its value going to $25K, and then wait for the 50% bounce and sell everything at $37.5K. Its not $50K but easier than guessing and selling everything at $23K.
So whatever the ATH is, sell 50% from that ATH on the bounce.
Yeah, that was my old mentor's system: wait until the bubble pops and then sell the bounce. It's the only way to hedge against the exponential upside, which can't be predicted beforehand.
That's what I did in 2013 and 2017. You won't hear me claiming I sold the top every time like some people around here!
