Why hesitate to take profit?

Cryptocurrency market is a volatile market, and everyone knows it very well, and because of that many people fear entering cryptocurrency, and I think that it is very natural, as most humans want stability in life as well as in finances. Risk cannot be avoided in cryptocurrency trading. Instead of that, there are many people who are interested in trading and dare to take the risk, hoping that they can make fortune in the cryptocurrency market. It is okay to expect something good, but I don’t think it’s a good thing for people to expect something without any proper reason.

picture generated by rafiki

Without having good knowledge about cryptocurrency trading and not having any kind of strategy for trading is nothing more than gambling with money. In gambling, one can win money or lose money depending on luck or following the instructions of others. There are many cryptocurrency influencers who are good enough to influence people to bring them into the crypto market but don’t guide them properly, or some people think they are pros and don’t need to learn anything from influencers, even if the influencer wants to teach them. They think just buying and selling is not so difficult and don’t need many things to learn from others.

In this world, nothing comes to us easily, and in case of money, it’s more applicable. Money always comes to the hands of smart people; smart people make the right decisions, and their timing is quite good. In the cryptocurrency market, timing is the most important thing, and at the same time, minimizing risk is something that should be considered carefully. I’m in the cryptocurrency market for 7 years, if I guess correctly, and my experience is indeed very little. With my little experience, I learned about this building, and I think that I have many more things to learn from the crypto market.

Most of the people in the crypto market don’t have good knowledge about trading, according to my opinion. I have seen that most people enter during the bull cycle and they see bullish waves most of the time, and even in the bear market, after suffering great loss, they always expect the price of their cryptocurrency to reach the buying price at least so they can sell. DCA is a good strategy to minimize losses over the long term and ensure profit over time if it’s a good crypto, I mean fundamentally strong. During the bear market, they fear making investments, and when all of a sudden there is a 50 to 60% pump, they just think that it will keep pumping hard and reach the buying price from where they bought. Even after going up nearly 100%, they are not ready to sell even a little. There were also people who buy at a moderate price, and after a close to 100% pump they receive a good amount of profit, but they choose to keep it thinking that it will go up more.

They end up keeping their crypto assets and later, at least 90% of the time, it has been seen that the price comes down again within the buying range. So those people end up missing the opportunity to secure their profits. In fact, many times, they suffer loss at the end. I found it quite funny because even if they are ready, they should minimize the risk at least. There should be no reason to hesitate to take profits. If they are not making profit, then what is the necessity of buying cryptocurrency? At least people can pull the seed money from the investment and leave the profit for making more profit. In that case, they may, in case it goes up, miss some profit, but it will ensure that they won’t suffer loss at least, and if the price comes down, they will rebuy it and increase the quantity of the cryptocurrency. At the end, I want to say: don’t hesitate to secure your profit or at least secure your seed money.