Why taking profit is always important: cryptocurrency Angle


If you have been following my post you might have come across the post where I talked about cryptocurrency and uncertainties. The truth is that I always love cryptocurrency but they are certain things you should do despite the love for blockchain.

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Truth be told, cryptocurrency with the height it has attained can never in any way died off. This is the era of cryptocurrency and it wil be hard to see it getting old fashioned because they will always be modification. I remembered back then when the internet was born, up till now different people keeps working on it and today, tomorrow and forever, I don't sees it dying off. This is simply what cryptocurrency will be like.

One lovely thing about cryptocurrency is that those who their lives have changed through crypto is more when being compared to those that their lives have gotten ruined through cryptocurrency. This is an interesting thing about cryptocurrency that made me to so much love it.

Another thing that I love about cryptocurrency is that you can always key into it cheaply and most times without money. This is an interesting thing about cryptocurrency that made me so much love it. Despite that, there is no good thing without it bad side. The bad side about cryptocurrency that almost everybody hates is the dip. By Dip I means the red candles stick i.e down movement in asset which affect investors negatively.

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When it comes to cryptocurrency market nobody knows how it always goes i.e nobody can predict the future of it, this is why it is better for you to always do the needful by taking profit when it is necessary.

When we are on dip we always lament that I could have sold when the price of coins are good. Now when the time has come and you are being presented with opportunities to sell your coins, you will now be saying I want it to grows more. So while doing this your level of greed increases and deep along the line while being greedy dip comes and you are back to square one. You just need to eliminate anything related to greed from your mind and always do the right thing by taking profit when necessary.

There is this my friend that I introduced into cryptocurrency some months ago. The moment he invested, his portfolio started rising. Almost everyday he keeps showing me his wallet and how it has increased so massively. I told him brother you are a newbie, never follow my lead, learn to always take profit, he said he will but he thinks the coin will rise more so he need to hold more so he can buy his dream Lambo car. To cut the long story short, he got hit by the dump. He is now in tears and he told me he could have taken profit when I advised him to.

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I am a victim of similar issue some months back. I was Airdrop some token token in the solana blockchain. I held these coins for long because I wanted it to get to the point I need before I do sells it. Do you knows that it got to my target and I keep wanting more. To cut the long story short, that was the end of those project as they all crashed down in prices and were unable to rise up. I know cryptocurrency is full of surprises maybe it can still rise but right now now, I don't think it can work with these cryptocurrency projects as activities are zero.

A friend of mine side of his story was so funny. He said the coin presented opportunities for him to sell as it rises and fall about five times. Anytime it rises after fall it will achieve new All time high (ATH). Good opportunity wasted as the project died not long ago and he didn't take profit. The essence of all this write up is to let us knows that it is good to always take profit.

Conclusion

I will love to end the post here but while I do that remember to always take profit when it present itself because nobodys knows the future of the cryptocurrency market.

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Remember the rules- Always invest your spare fund i.e what you can afford to loose when it comes to cryptocurrency

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