If you’re wondering whether you should sell your crypto now or hold on to it, here are a few things to consider.
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It’s been a wild ride for cryptocurrency investors in 2018. After starting the year with prices near all-time highs, the crypto markets have experienced a prolonged bear market throughout most of 2018. This has caused many investors to question whether or not they should sell their crypto now.
Before making any decisions, it’s important to understand the current market conditions and have a plan for how you will sell your crypto. In this article, we will provide some guidance on when and how to sell your crypto.
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The Case for Selling
You Need the Money
Maybe you’ve been in the game awhile and you’ve seen your portfolio grow steadily. But then something happens and you find yourself in need of some quick cash. Whether it’s an emergency medical bill or a last-minute plane ticket, sometimes you just need to sell.
Of course, there’s always the risk that the market will take a downturn after you sell and you’ll miss out on potential gains. But if you truly need the money, it’s probably worth it to take the risk. After all, what good is having money in crypto if you can’t use it when you need it?
You Have a Long-Term Investment Strategy
You have put thought into your investment strategy and have decided that you will not sell your crypto for at least five years. This is a commitment, but one that you are willing to make because you believe in the long-term success of the project. You are willing to ride out the ups and downs of the market because you believe that the price will eventually reach your target.
The Case for HODLing
You Believe in the Project
The most important reason to HODL your crypto is that you believe in the project. You think the team is competent and that the technology is sound. The project has a bright future, and you want to be a part of it.
Of course, there’s always a risk that the project will fail, but you’re willing to take that risk because you believe in the potential of the project. Even if the price of the coin goes down in the short-term, you’re confident that it will rebound in the long-term.
You Have a Short-Term Investment Strategy
If you plan on holding a particular cryptocurrency for only a short period of time, then you may want to sell it as soon as you can to cash in on any potential profits. It’s important to remember, however, that the cryptocurrency market is highly volatile, so you could end up selling at a loss if you don’t time your sale correctly.
After taking a close look at the data, it seems that there is no easy answer to the question of whether or not you should sell your crypto now. While the market has been incredibly volatile in recent months, it is still too early to say definitively whether or not this is a good time to sell. However, if you are considering selling, it might be a good idea to wait for a more stable period in the market.