2024/25 will be my first bull run and I have been patiently buying and holding for over a year now.
Just wondering for those who were in the last bull run what it was like and how fast prices pump during the peak bull times?
Any advice on how to prepare when it comes to being ready to take profit?
That's great to hear that 2024/25 will be your first bull run, and it's commendable that you have been patiently buying and holding for over a year now. As for those who experienced the last bull run, it was quite an exciting time. Prices during peak bull times can pump rapidly, sometimes experiencing significant increases within short periods.
To prepare for taking profit, it's essential to have a well-defined strategy in place. Consider setting clear profit targets based on your investment goals and risk tolerance. Regularly monitor the market conditions and stay informed about the latest news and developments in the cryptocurrency space. Additionally, consider implementing risk management techniques such as setting stop-loss orders to protect your gains and minimize potential losses.
Remember, taking profit is a personal decision, and it can be influenced by various factors such as your financial goals, risk appetite, and market conditions. It's always a good practice to consult with a financial advisor or do thorough research before making any investment or profit-taking decisions.