Is It Time To Finally Sell Crypto?
And at this point we have to ask the question: is it finally time to sell or continue to hold on for dear life, and often in this space people give you a very general statement, buy, sell huddle except it cannot be a general statement, because everyone is In their own unique individual situation, so in this video we are going to cover the exact questions that you need to ask yourself in order to make a decision, and hopefully, by the end of this video, you will be able to make that decision. This information is evergreen. It will be just as relevant in 50 years as it is today, because the principles remain the same and by the end of this, whether you decide to hold on or sell, often afterwards. Theres, a big mistake that many people make a mistake that, hopefully you will avoid. We are going to cover everything in this video and first i want to give a thank you to ftx us todays, video sponsor ftx. Us is a great place to get started with crypto and its even a great place for people that are more advanced ftx us is a powerhouse in this space, while most crypto companies right now are laying off workers. Ftx is actually hiring. So maybe, if thats something you would consider, you can go ahead and apply to ftx. They also recently acquired bitvo in order to make their way into canada. Ftx us has fees that are 85 percent cheaper than their competitors and then, when it comes to nfts, they have both ethereum and salon.
Nfts and the ethereum nfts have zero gases on the platform. Ftx us also recently introduced stocks as well. So an all in one platform – stocks, crypto and nfts. So if you want an all the one platform that has cheap fees for both crypto and nfts, go ahead and sign up with the link down below and when it comes to the question, sell or hold. The first thing you need to ask yourself is whether you really believe that what you may potentially hold on to will increase in value in the future. Many of us lie to ourselves. We may buy into a crypto project or an nft, and then it loses 50 to 80 and we just hold on hoping that it goes back in order to recoup our losses. But the sad truth is most cryptos. Do not come back most cryptos do not end up reaching their all time highs. So, for the sake of this video, we are going to use bitcoin and ethereum as an example. Just because history has shown us that they have the highest probability of coming back its, not a guarantee its just a probability, and there will be other cryptocurrencies in this space that reach their all time high, not just bitcoin and ethereum, but its all about probability. So thats the first thing to ask yourself when it comes to buying, holding or selling your assets. This also goes by the way for stocks as well, because if you just hold on to something that may have its ups and downs, but it just trends zero.
You are huddling to zero, so lets assume were holding on to maybe bitcoin and ethereum. Now heres the thing you may think that the most important question for lets say: selling or huddling is the actual crypto in question its not the most important thing. Most important thing is whether you have income and savings. These are the most important things to consider when asking the question whether you want to sell or hold, because in this space we can see that we can lose portfolios 50 down even 100 down in the case of maybe luna or right now, with people that had Funds on celsius, you may never get that money back now. If you never get that money back or that money is down 50, that you having crypto or nfts or stocks, ask the question: will you still be able to afford your lifestyle for the next three to six months? Do you have runway many people out here are asking you know, should i buy the dip, should i huddle but theyre in debt and they dont have any savings and they dont really have any income at that point theyre over leveraged and they should be focusing on Their income and their savings, but lets say you do have income and you do have some savings. Ask yourself if crypto right now crash another 50 or maybe your funds were locked for the next two years? Can you still afford your lifestyle? Can you pay your rent? Can you pay for your food? Can you pay for your bills? Can you pay, for whatever expenses are important to your lifestyle, keep the main thing, the main thing, for example: maybe you have a couple children, you have a partner and if crypto crashed, you might not have money to pay the mortgage or pay the rent.
You cannot put these things at risk, keep the main thing. The main thing. Another example lets say you have a job, but in order to get to your job you need a car and if you lost everything in crypto and it would lead to you not being able to afford that car in order to go to your job, then you Are over leveraged? There are times especially right now where people are selling not because they want to, but because they have to, and it can happen that someone is over leveraged. They have all of their money tied up in investments and nfts and stocks and crypto. And if they lost it, they wouldnt be able to afford their lifestyle over the next three to six months. So they go ahead and they may sell the crypto and then right after that crypto pumps and it goes to the moon. They could have made so much money, of course, in hindsight right that wasnt the correct decision, but in real time its all about probabilities. Again, i know ive said it so many times keep the main thing. The main thing i remember earlier back in 2018, i was over leveraged and i wasnt able to sleep at night because i kept thinking if i hold on to this crypto and it keeps going down im not going to really be able to afford my lifestyle. So at that point i had to sell off crypto, not because i wanted to, but because i had to i know in this space we always say huddle huddle, but huddle isnt for everyone.
Huddle is for people that have consistent income or people that have savings to get them through the next, maybe three to six months, and even that is subjective right. There are people out here saying that three months is not even enough right. You need six or more, but basically, if you lost everything today, would you be out on the streets or would you be able to continue living your lifestyle, so lets say at this point: youre asking yourself these questions again very specific. Some of you may have some sort of medical condition where you need a certain amount of money every month to continue receiving treatment. Maybe some of you are in some sort of relationship that requires you to have a certain amount of money to continue with that relationship. Again, its going to be very unique and situational to each person and ask yourself: are you able to afford to huddle on or do you have to sell now after someone decides to either huddle or sell a huge mistake that can be made, especially for people that Sell is they feel hey i sold im out of the game. I no longer have to really pay attention huge, huge mistake, because, yes, whether you buy the dip or hot on this comes down to your financials right, it might cost you money, but learning is free, especially in a bear market. That is the most important time to learn, so you may not have enough money to buy the dip.
You may not have enough money to hot on and you are forced to sell. This does not mean that you are supposed to leave the crypto space. It is free, there is youtube, there is twitter, there are websites, there are podcasts, so many resources for you to continue learning, but even more important than that are learning high income skills. Yes, crypto is super important, but if we go back to what we spoke about earlier, the most important thing here is having consistent income. When you have consistent income, you can afford to huddle or sell or trade, and even if you lost lets, say 50 of that portfolio, you still have consistent income to keep up your lifestyle, so learn about crypto, but also learn about high income skills. So go ahead and watch this video on high income skills.