I hold an altcoin called Arcblock which I invested in last year at an average price of £0.09 and it reached an all time high earlier this week of £3.72 which is a 40x return. Current price is £3.35.
So far I have taken out my investment (£300) plus £1.6k profit but I am wondering if I should take more now or continue holding as we still have months to go, possibly even another year until the peak of the bull run so feel the price could go a lot higher.
On one hand I don’t want to sell too early , I believe Arcblock can reach at least £15 this bull run, some are even saying as high as £50 which is crazy to think as that would give me over a 500x return, but I’m not sure about that.
On the other hand I moved into my first house 6 months ago and the amount I can cash out now will help pay towards some of the work we want done to the house.
I have not been in this position before, it is my first bull run and this is the first investment that has given me 40x return so not sure what is best to do.
I am leaning towards cashing out half of the remaining amount I have left and then leaving the other half until the peak of the bull run but is that too much too cash out this early or is it the smart thing to do?
I know taking profits is never a bad thing but could cost me a lot if this does continue to grow in price a lot over the next 6-12 months , that is my concern.
There's no right answer to this, as no one knows the outcome beforehand. But why would you have to sell everything? Just exit slowly or take out 50% or something like that. 100x is my 50% exit point no matter what i think of the markets. This is based on my experience of being delusional and starting to fall in love on my investments.
Also consider what taxes you need to pay in your local area to get most out of the exit plan. Sometimes keep holding is so much better option if you need to decide on life changing money and pocket money.