Making your first million in crypto might be tough, but the second one will come naturally.
The current bull run could be your golden opportunity to transform your life.
Here's how to achieve your first million in the 2024 bull run.
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➮ The crypto landscape has seen significant changes in recent weeks:
- $BTC reaching new all-time highs
- $ETH ETF getting approved
- Meme coins surging
- Media outlets covering crypto daily
Now is the perfect time to focus on what can guarantee you a 60% success rate in crypto: Taking Profits.
➮ Just as you need a plan for buying, having a strategy for selling is equally crucial. Many, including myself in the past, often overlook this.
Before purchasing any coin, it’s essential to have a clear take-profit strategy. This ensures you’re not trading blindly.
Acceptance Stage:
This is the foundation of any take-profit strategy. Accept that no one can perfectly time the market’s tops and bottoms. Just as buying happens in stages, so should selling.
But it’s not that straightforward.
Since we're in a bull run, selling too early can have the same negative impact as selling too late. That’s why I use a strategy of taking profits after reaching certain multiples and selling in stages.
➮ For instance, if you purchase a token for $10 and it doubles to $20, I secure 20% of my position. I continue this approach for every 2x increase, adjusting based on market conditions and the specific token.
➮ In the early stages of a bull market, it’s advisable to secure 10-20% profits with each 2x increase, gradually increasing the percentage with every subsequent 2x. During the mid to late stages of a bull run, it’s wise to act more aggressively, securing 50-60% profits with each 2x.
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