This might be a primitive question…but Is it a bad strategy to sell all my portfolio near the top of this bull run and convert it to stable coins and then refill my bags in the bear market to maximize my holdings?
That’s a good plan but I recommend leaving 20% of your assets in ETH and BTC even during the bear market and accumulate more.
But why should i keep 20% in ETH and BTC if i can buy them much cheaper later in bear market? Maybe i am missing something here but please enlighten me. Thanks
You do have to remember about your tax liabilities though if you’re selling.
Unless you live in the UAE or Puerto Rico.
The question you also have to consider is what’s the top? How confident are you to predict it? The reason why @Tyger_Vinum is saying keep 20% is because you just don’t know that.
If you sell all your BTC at 100k, and then it runs to 250k, you’ll feel gutted. Which is why it’s better you scale out gradually.
The 20% hold is in case it pulls back and runs off to a million. Then you’ve got a moonbag still in your back pocket.
Ok got it…i guess you guys are right…thank you guys for your feedbacks😀
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Obviously a lot has happened since this question was posted! Assuming the bull run continues, the secret this is to bank profits as you go on the way up, and not to stable coins - to your native currency. Play it safe, even if it means tax exposure. Rolling up your profits to trade or invest a bigger bankroll, is like gambling your winnings. I’ve been taking profits for months now, so even though I, like most people in crypto, saw a 35% drop in value when it blew up the other day, that hurt a lot less knowing I have had a lot of money out this bull run, I can walk away pretty happy, if this goes bad. When the music stops, you are done, exchanges go down, you can’t sell, so you have to take profits as you go. On here they always say “not financial advice, but…” Well, I’m a qualified financial advisor and investment advisor - and I’m happy to say all this “yield farming, liquidity provision” in a bear market is crazy to me! Makes zero sense, if you have decent profits from crypto, invest in real estate, or legacy market products, something else. You can get 6% in p2p markets in legacy. Spread the risk around - if this last week has taught you anything, don’t be all in one asset class!