Good morning my fellow Naija people in the local board, I brought this topic to encourage our Naija local board bitcoiners not to spend all their profits they made from this bull run because, I know that many people have started selling their BTC to increase their wealth. I know that many people will start using the profits they made from this bull run to do other things and forget to save money to buy BTC when the bear market occur again, and it will be a good thing, if you can spend and still remain some money to invest in BTC when the bear market come. I know that is not easy to save money in this high inflation, but spend and save some money that you will invest in BTC in the future no matter the situation you are facing right now.
I know there are some people that depend on their signature campaign only, which is not a good idea because, anything can happen that will make you not to get the opportunity to work in the signature campaign but if you invest some money on BTC, I believe you will have hope of winning something big from BTC when the bull run occur. What is your opinion.
This na better suggestions, it is not bad taking profits at this time because nobody don ever lose by taking profits before but the biggest regret na taking profit at 4x and the thing later do 10x. Right now I will only advice those taking profits to try and diversify their portfolio and this doesn’t mean it should be only cryptocurrency. Enough profits can be a good capital for a physical business. Having a physical business doesn’t only gives you a second source of income but also gives you the chance to hodl your cryptocurrency portfolio for a long term.
If you have used money you cannot afford to lose to invested in bitcoin, my advice is it’s time to take profit and settle the situation. Bitcoin is a good ROI but it is a volatile asset that can’t be fully rely on.