Riding the crypto bull run, but remembering the bear market times

Like anyone being in crypto these days and as I feel the hype and see many of my assets prices improve, I am riding the bull run and trying at the same time to remember the bear market times. I've set some goals for this bull run, some of my selling criteria was already reached, but I didn't sell anything so far. And while some gamblers might say that this is a good thing, I am realizing that I am pushing my risk higher and higher. One thing that might explain my stand still on selling is the fact that I am waiting for a law in my country to be promulgated that will exempt any crypto revenue from now and up to 6 months. Or at least that's what I am telling myself.

Crypto is not my main income revenue

First of all I must disclose that crypto is not my main income revenue and it doesn't contribute for now in any way to my daily living cost. Due to this fact it probably gives me freedom of action as I am not in a hurry to sell any of my assets, not now and neither in the near future. But it can surely contribute to my financial stability and provide me peace of mind.

Crypto is my future financial freedom

Since I've started my crypto journey back in 2017, I didn't do it for a get rick quick scheme. I've played a long game on it and I am still playing it. And through many lessons learned, my goal morphed into something that aims to build up a portfolio for my future financial freedom. For example I learned that too less diversification is not good, but a too bigger diversification simply is not manageable. And other lessons were taught along the way, hopefully I can remember them and not retrace the past mistakes.

Selling in a bull market is a must

While I have been around for two bull markets and I haven't took profits from them, I saw how some of my assets devalued from 6-figues to 4-figures or even 3-figures. This proves that selling and taking profits in a bull market is a must. That will also provide a good stash that can be used during bear market to buy back at higher discounted prices. But not taking profits also will make you feel that what your doing might have no finality.

Diversify outside of the crypto space

We cannot put all our eggs in one basket and from this point of view I believe that it is better to diversify our investments also outside the crypto space. In my case that assumed to have build a strong stocks portfolio, but also have some real estate investments here and there. Having checked all these investment types - crypto, stocks and real estate - simply gives me peace of mind and the ability to act in a certain way based on the market conditions.

Crypto hype reality

We all know and feel how good is to ride the crypto bull run with all the hype that is being built around us. Some of it is real, but some other it is not and some people are for your money. So we still need to invest and act in a smart way and one way to do that is to understand that what goes up, must come down. It is easy to fall to our emotions and think that the party will never end, but listen to me - it will end at some point. Thus, remembering the bear market times and that we have cyclicity also in the crypto world, we'd better take some profits when the time is right to be able to navigate what's thrown at us.

Everyone is saying that 2025 will be an amazing year for crypto and I surely hope that will happen like that. I am well positioned to take profits in the incoming year, while probably I will hold some of my assets that I think they have more upside in the future. So if the market is timed right, we might be on a treat next year. We never know, we need to wait and see, but I believe there are good signs favoring it.

Posted Using InLeo Alpha