When And How to Take Profit in Crypto

In this video we'll explain to you one Of the most important things to do in a Bull market how and when to sell your Crypto and make a profit I know pressing The sell button when the market is Skyrocketing is hard however believe me It's far better than watching your Investment crumble without the chance to Sell which means at a certain point you Need to turn those crypto gains into Tangible money before we get into it Remember this video does not constitute Financial advice it is for purely Educational purpose purp I'm joavan your Host let's get Started so what does it mean to take Profit you look at your crypto portfolio And you see the numbers going up like Crazy feeling exciting right come down And remember those digits are just Pixels on the screen paper gains they're Worth nothing until you lock in your Profits by cashing out there are two Ways you can cash out in crypto first You convert your crypto into stable Coins and transfer them from your Exchange to your crypto wallet second You sell your crypto directly for fat And you transfer the money to your bank Account and now here are the main Questions how to pick the best moment to Sell your crypto which crypto to sell And how much you should sell let's have A look at a few

Strategies every profit taking strategy Is very individual and depends on Several factors your financial situation Stage in life how much risk you are Willing to take for example it also Depends on your goals how much money are You hoping to make out of crypto would You be happy with a 20% 50% gains or Maybe you are looking to double or Triple your money maybe you want to buy Yourself something nice like a house or A new car or maybe you want to use your Profits to invest into something else it Is very important you answer these Questions before you formulate your Profit taking Strategy the most common mistake people Do in a bull market is they try to time The market selling your crypto right at The peak before it takes a nose dive Into bearish territory here's the thing Trying to predict the exact top is a Tricky game and only a handful of flucky Folks manage to nail it the vast Majority are left holding the bags of The very few who manage to sell at the Top bit coin pumped up to 50,000 went From 30,000 to 50,000 well it's going to You know have a correction soon I'll Just move over to stable coins then the Market pumps up to 60,000 now you're Stuck in stable coins thinking you can Time the market that way it's always bad News unless you're a professional

Experienced Trader or at least have been In cryptocurrency for one full cycle if Not two so here are two lessons don't Try to time the market and don't sell Everything at once instead it is a much Safer strategy to exit the market Gradually according to a plan one way to Go is setting clear price targets for Selling your crypto and determining the Percentage you will sell at each of These targets for example let's say you Bought a specific altcoin at the price Of $30,000 you're going to sell 20% when It reaches $50,000 another 30% when it Reaches $70,000 and another 30% at 90,000 and so on emotions can run High During these moments but it's crucial to Put them aside once you've set these Targets stick to them regardless of Market fluctuations this disciplined Approach ensures you make strategic Decisions and avoid potential Losses here is another strategy that Many Traders find effective the house Money strategy in simple terms when or If your initial investment increases Significantly in value consider cashing Out the amount you initially put in and Let the remaining profits ride those Remaining profits are called House money For instance imagine you invested $100 In a cryptocurrency then that Cryptocurrency doubles in value to $200 You then withdraw $100 your initial

Investment and let the remaining 100 Continue to grow once the thing starts Moving upward if it does then we begin To pull profit out um and generally on a Two times and or three times or whatever That may be and then pull enough profit Out to where it's profit initial Investment and enough to pay taxes and Then essentially what you have left over Is a moon bag you own free and clear as This number goes up um you can take more Money out if you want or do whatever it Is what's great about this approach is That it minimizes emotions by securing Your initial investment you reduce Stress about potential downturns knowing That you've already recouped your Initial funds of course even in this Case you should set up price targets for The house money so that you can still Take profits gradually on the way up So now you may be asking how do you Establish those exit price targets that Again is very subjective it depends on Your investment goals and your risk Tolerance but here are two things you Need to do regardless first evaluate Each crypto asset individually every Coin comes with its unique Characteristics fundamentals and Catalysts which directly influence its Upside potential so it's very important To spend some time doing some research Search to gauge the potential returns

For each specific coin I would say that There's some Bitcoin ethereum and a few More quality alts that we talk about on Our Channel that I have a huddle Position I'm not going to sell for a Long time I have a lot of people say Never sell Bitcoin the Michael sailor Strategy because you believe it it is a Store of value a long-term asset it Could be the future Global Reserve Currency digital gold everything else I View as a speculative venture capital Investment here is an example you have Invested in a small cap altcoin that you Believe has the potential to Surge 100x During a bull market cycle for such a Highly volatile asset you might set exit Points at 20x another at 30X and so Forth on the flip side for larger cap Cryptocurrencies like ethereum or Bitcoin aiming for more moderate targets Like 2x or 3x should be the way to Go now remember even if the prevailing Narrative is that we are in a bull Market there is no guarantee whatsoever That the prices will keep going up as we Expect they could very well crash Tomorrow that is why it is important That you have a plan for the bearish Scenario as well that means as you set Up exit price Targets on the way up you Should do the same on the way down a Popular way to do it is by using the Trailing stop loss strategy which means

Setting a percentage of the price limit Below which you're going to sell your Position for example you buy one Cryptocurrency at the price of $1 you Set a trailing stop loss at 10% which Means that if the cryptocurrency Falls Below 0.9 you're are going to sell your Position if the price of the coin goes Up to $2 the stop loss will now trigger At $11.80 the good thing about this Strategy is that it allows you to Capture gains on the way up while Limiting the losses if the price goes Down now here are some final things you Should pay attention to when setting up Your profit taking strategy transaction Fees every time you sell your crypto or An exchange or you move it from your Exchange into your wallet or vice versa That costs transaction fees in a bull Market these fees could be quite High Especially if you are using erc20 tokens Based on ethereum so keep that into Account you don't want a large portion Of your gains to be lost in transaction Fees second taxation of course taking Profits in crypto may be a taxable event Depending on the jurisdiction you are in So make sure you do some research about This you need to factor in the Percentage that you will lose in Taxation once you decide to take Profits I really hope this video has

Given you some food for thoughts on how To set up your own personal exit Strategy for this bull market I'm Curious to know what you're going to do With your crypto profits so please let Us know in the comments and remember Guys holding crypto is great but cashing It out and using it for improving Our Lives is the point of all this I'm Jaavan your host see you in the next Video [Music] [Music]