On March 11, the explosive price rise of Bitcoin (BTC) broke through the psychologically important $72,000 mark; at the same time, Ethereum (ETH) also successfully crossed the $4,000 mark.

This kind of price rise often triggers psychological panic among investors. They are afraid that a sudden market correction will cause their hard-earned profits to disappear instantly; at the same time, they are also worried that leaving the market too early will miss more opportunities to rise.

This ambivalence is actually the true feeling of many cryptocurrency investors.

Today, let us provide some advice on your investment position.

10 tips for position management:

Risk Tolerance: The key is to avoid investing “money that affects your normal life.” Assessing one's risk tolerance and deciding the amount to invest accordingly are the first steps in position management.

Diversify your investments: All your money should not be invested in a single or a few cryptocurrencies. By investing in multiple cryptocurrencies, you can spread your risk.

Set investment goals: Be clear about your investment objectives and expected returns. Setting clear investment goals can help you stay on track when the market fluctuates.

Stop Loss and Take Profit: Set stop loss and take profit points for each investment to automatically exit when the market fluctuates, thereby limiting losses and locking in gains.

Regularly evaluate and adjust: Markets are changing rapidly, and it is important to review and adjust your portfolio regularly.

Avoid Emotional Trading: Investment decisions should not be influenced by emotions. Whether panic selling or greedy buying, both can lead to adverse results.

Continuous learning: Stay informed about market dynamics and related technologies to increase the likelihood of successful investments.

Comply with regulations: Make sure your investment activities comply with the laws and regulations of your region.

Maintain a long-term perspective: While markets can be volatile in the short term, long-term holdings may reduce the impact of such volatility.

Seek professional advice: When you're not sure how to manage your investments, consider seeking help from a financial advisor or investment professional.

Remember, everyone’s investing journey is unique and it’s important to find a strategy that works for you.