Should I Sell My Crypto? (Beginner’s Guide to Bitcoin Profits)
My name is ben every day on this channel. I show you how to make money in crypto. If you like money – and you like crypto, make sure to hit that subscribe, button coming to you live today from boston bean down, thats got ta, be the worst attempt at a boston accent ever but uh on a little trip right now, im gon na go to The red talks game of three now look im, not a red sox fan, of course uh. So you may be wondering why im wearing this hat, the hotel gave it to us. It was sitting here they had a bunch of gifts for us uh. We came to the hotel here were staying um well, im, not gon na say where im staying, but its a really nice hotel, uh weve had a good time. So far. Now listen in this video, we usually by this time. I give you the news for the day, but i dont want to do that today. Do you want to know why? Because theres, no freaking news for the day its been so boring, bitcoins sitting around 55 000, so thats good thats, a positive thing. We could see the momentum carry upwards tomorrow. Now i want to address something that you know. I get asked every once in a while. I thought this would be a good topic for this video for tonight, which is what do you do with your crypto? How do you take profits and is right now the time where you should be trying to get out? So this is kind of complicated question um, because you know we tell you all the time anytime, you can get profits.
You need to take some profits, but that doesnt mean you pull 100 out of your portfolio now. What do we mean by taking profits? Well, either one of two things: either you are taking money and or taking crypto and youre trading it back in for cash or youre trading it back in for usdc or tether or a stable coin. Um. Now you can also take profits on a coin. Right lets say: you take profits on bitcoin, but you want to roll those into ethereum. So you trade part of your bitcoin for ethereum, because you think its getting ready to explode or something like that so uh. I guess technically three ways so youre going into cash. Youre going into stable coins or youre moving from one coin to another in order to take advantage of price wings and thats really trading at its heart. But the question is: a lot of people are getting scared and heres. Why it its not that people are scared, that bitcoin is not going to go up more because a lot of people do feel like its going to go up more and people are excited. Im excited, i think, were going up to 100 000 by the end of this year. You guys know that, but people are getting scared because were getting back to numbers that are in the ballpark of all time highs, and it feels good people are feeling good about their portfolios. Theyre feeling good about money and they miss that feeling, because when we had the crash in may there was a dramatic price drop, as you know, and then all of a sudden, our portfolios dropped 50 60 70 and that was gut wrenching.
So it it its kind of like um, you know you have this opportunity to get those gains back. The gains that you have like. Maybe your portfolio is almost back to an all time. High and people are nervous because they feel like this may be their last chance like its kind of like playing um. You know craps or something its like. You roll, so many good numbers in a row and youre winning youre winning youre winning its like. At some point, im gon na roll, the wrong number and im gon na lose and so its good to take money off the table as you go instead of just trying to you know double up on every spin, because eventually youre going to lose theres, no theres. No doubt about it or letting your money ride on red or black on a roulette or something like that with crypto its a little bit different, because we have some educated guesses. We have some hypotheses out there um that kind of tell us what crypto should be doing at this time now. We know weve talked about this on the channel a lot uh. There is this idea by benjamin cowan that there is a linkedin cycle and were going to go until next year. Uh people like jeb and carl, i think they believe, were going to go into next year in the bull run. I dont believe that i think its going to be quick, i think, were going to go to 100 000 by the end of the year theres.
Some other people that agree with me as well youve also got the bears out there. That believe that we are going to see dramatic price drop were not going to get back to all time highs. So if you look at those three options, you say: okay, two out of those three options: sound pretty good prices are going to go up. Maybe i hold on to some maybe ill take some profits, but the other ones really bad. If we are bearish. If this is like the last hurrah of a bull trap, which, if you didnt know bull trap, is when the price looks like its going to continue upwards only to set people up for a big fall. Okay, if you think thats a possibility and your portfolio is back to an all time high, then maybe you should take more profits. Maybe you should take some more off the table, but the other two options sound like we, no matter what were going to be going up its its just. How fast are we going to get there if we are at a hundred thousand dollars in the next two months, a big old finger, a bit of a fat finger, putting on front of my camera there, but if we are at all time highs and if were 100. 000, by, like the end of next month or the beginning of december, then you need to consider pulling money off the table, a good amount of money off the table and i dont really believe any more in just huddling.
I think huddling as a ladies is a lazy strategy im going to talk about this a lot on the channel over time. It works but youre talking about the difference between doubling your money or tripling your money or 20xing your money when youre, when youre just doing two simple trades, every four years, where youre trying to generally sell the top trying to generally buy the bottom. I dont advocate huddling anymore. I just think its lazy. I think we have enough crypto education out there um to where, if you watch this channel, you understand the four year cycles. You have no excuse to hold bitcoin all the way back down to 15 000. After we top out, i just i just dont, think you have an excuse there, or maybe 20 or 30 000, whatever its going to be after we top out around 100k, but but i think its really important for you to at least have a strategy. I think too many people go into crypto and theyre, just kind of like flying around blind like you, dont really know exactly what youre doing youre just like ill feel it out when we get there. No, no, no! No! My friend, you need to have a plan whether its to sell in a couple months or whether its to sell at certain price points or take profits along the way you need to have a plan without a plan youre going to fail because theres never going to Be a time that feels like the right time to sell your crypto, so i want to give you guys that message im not selling anything right now i mean weve.
You know we bought a lambo, we did some stuff, but you know we. We sold off less than five percent of our portfolio over the last uh couple months for different real estate purchases and things like that um, but 95 percent weve held on to and the other ones were just for purchases uh. So in that way, we have taken some profits just a little bit along the way, but you know were not planning to take full profits, uh the maximum somewhere between 60 and 80 percent of our crypto weve, taken my profits on you know, hopefully, by the end Of the year now, look if we get in the end of the year in bitcoin, still saying around 50 or 60 000, then that would be a strong indicator that we are going to see all time highs next year, and this is going to carry on for A while to come, but i, like i said, ive, been very adamant. I do not see that happening. I think were following closer to the 2017 month. Over month. Schedule september was down october pumped november. Pumped december saw an all time high for bitcoin january saw all time highs for lots of other coins. So i think we are going to see that all coin season go then um, but let me know what you guys think drop down below. I want to know what profit strategies are you guys taking and also.