If the bull market comes, how do you exit and take profits?
Welcome to the fourth quarter of 2024, Bitcoin price breaks through $80,000, and the much-anticipated altcoin season has finally arrived.
But when should I sell my cryptocurrency? You may rely on your intuition to judge the time of the bull market peak, but is there a better way?
Remember: "Failing to prepare means preparing to fail."
The trap of price prediction
It is a common mistake to manage investments solely based on price targets. Such goals are often subjective, easily driven by emotions or influenced by social media. It is extremely difficult to accurately predict prices and predict the time of price changes.
As the portfolio grows, so do investors' fear and greed. Every decline and rise escalates the struggle for rational thinking.
Price targets keep changing, cognitive biases keep growing, and investment discipline keeps weakening. This is your battle against yourself, and as the stakes increase, the difficulty increases.
The power of investment philosophy
Are there any reliable strategies besides price prediction? We have many options: emotions, technical indicators or on-chain analysis. However, strategies centered on investment philosophy often prove to be the most reliable.
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