Bozzlife: What's Your Magic Number?
Unless you have been living under a rock, you probably know that we are in a bit of a bull run right now. It has been splashed all over the front page of every blockchain blogging platform known to man. Is this "the" bull run, or just another bull run?
There are lots of opinions and lots of speculation. If you are looking for more of that here, you aren't going to find it. I don't think any of us can actually tell what is going to happen from today to tomorrow. Even within the next hour things could go sideways and I am not sure any of us could have accurately predicted it.
What we can predict and control is what we do next.
Do you have a number?
Do you have that magic number in your head that will trigger you to cash out? Will it be just a little? Will it be a lot?
Personally, I have thought about it a little, but probably not as much as I should be. I have a very small amount of BTC in one of my wallets. That will be staying right where it is. I have no plans to sell that in the foreseeable future. As you have probably read, there are some pretty consistent targets of about $380,000 for BTC. We don't know if or when that will happen, but I do know that if I get rid of my BTC at $60,000 I am going to be kicking myself if it does reach that prediction.
Coming up with a magic number is really hard for me. A large number of the currencies and tokens I hold were invested in because I believe in the project. These are blockchains that I think have a lot of potential and part of me would feel a little guilty for just cutting and running.
I do have a couple of exceptions...
I hold LTC in a couple of different places. One of them is in Robinhood where I purchased it before I realized you can't move tokens out of the Robinhood wallet. I am pretty sure I purchased the LTC in there right around $77 or so. If Litecoin can get up over $100 I will probably sell those couple of tokens that I hold in Robinhood for a small profit.
The other token I probably wouldn't feel too bad about getting rid of should it pump is STEEM. Yeah, yeah, I know, it isn't really popular to still hold that token. To be fair, I don't post at all over on Steem. My main account is totally wiped out. I cashed that in and converted the majority of it to WAX.
I still have my secondary account over there that I use solely for curation. If Steem were to miraculously pump over $1 (and hold), I might consider powering down and cashing out.
I own a ton of altcoins and the fact is right now we don't know if those are going to follow suit. The expectation is BTC will hit a sustained level and then people will move their gains into alts which will pump them as well. Whether that happens or not, who knows...
I hold some EOS and as I mentioned WAX and I would be tempted to sell a little if either of them could reach a decent level. I think my target would be $10 for both of them. I know it is a long shot, but we can dream right?
So what is your magic number? What are you keeping your eye on right now and what would prompt you to cash out?
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https://twitter.com/JayBosworth5/status/1329061179642191872
@bozz, I am riding with the Flow. Let's numbers flow itself.
Cryptocurrency Ride is becoming really interesting day by day.
Good wishes from my side and stay blessed.
I am not cashing anything right now. I'll dollar cost average as of next spring. My intuition tells me, based on some charts that are hovering over the internet, that the true madness in crypto will commence in spring-summer 2021 and the bubble might burst sometime by the end of the next year. That's my plan, sell a bit almost every month from lets say March-April 2021 till December 2021. I might sell to low at some point and might even nail the peak, who knows. The idea is that I don't want to miss profits anymore as I did in 2017.
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I am with you there about 2017. Except for me I was just getting into Crypto at the end of 2017. I have read enough stories from others that I want to make sure I am ready to go and have a plan.
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At the moment I wait, not cashing out as I don't need it to. Was lucky to be active in 2017 and I've took there some good profit. What I'm doing is to switch some of my crpytostash to BTC. Wishtarget for me for BTC is 250k $. There I would sell a part to buy some piece of real estate for my family in the country side and do an early retirement.
There will be a lot of FOMO the next months and I think this will bring a lot of opportunities with it. Just be patient :)
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Thanks, I appreciate it. That sounds like a really sound and awesome plan you have.