Basic: Cash-out some of your profits when others are celebrating !
Hello HODLers,
I am often surprised when people believe each others during moon speeches or crazy expectations. These are clearly sign of a fading bull market but it is almost theatre.
Everyone says they expect Coin X to make a X10 / X50; they might but in 99% of the cases, the individual expecting X10 will have sold after X2.
This post from @acesontop Silence of The Lambs. Was The Dump On Charts, Sir? made me think about it.
He clearly states what I am feeling. Everybody was so confident that we will moon to 100k, with Altcoins doing X10. Today's dip happens and Crypto Twitter is completely silent, all the Mega Bulls do not speak and are waiting, scared.
As @oldtimer commented:
And do not get me wrong, sometimes I do get very bullish about a project which turns out to not be as good as expected. Experience has now taught me to be more conservative in my approach.
I also learned it the hard way during the 2018 Bull Market and now I always cash out some profits to invest in stablecoins and farm at c.10-30% APY, this also allows me to buy back some cryptocurrencies I like once it has corrected enough.
Balancing risks inside your portfolio makes you less succeptible to FOMO either up or down, less stressed, agile to take advantage of any opportunity or irrational market...
The Splinterlands case
If you are following me you know that sometimes I can seem pessimistic. I have called a Top for Splinterlands a few weeks ago when I calculated the fully diluted market cap of the project (Cards, Lands SPS, DEC, SPT...) which was way more than $1-1.5bn.
Don't get me wrong, I love Splinterlands, I still own some cards and play daily BUT in all honesty, the game is not that great (yet) and we play because we get some nice $$$ out of it.
Looking coldly at it I felt if any legacy gaming company or team launches a game, they could shut down all the indie ones we are currently playing.
Also, Indie games could improve and compete with legacy ones as they attract capital and improve their gameplay. TBD.
My guts tell me to invest in Gods Unchained
The best example is Gods Unchained which has the best gameplay BUT did not understand and create tokenomics around its game (old school mentality).
Now that they have set up their tokens (still not live but before year*end) and understood P2E, I bet this will be the next best game and for longer. I know some other hardcore gamers such as @acidyo agree.
Because this game is as good as its non-blockchain peers: Hearthstone or Magic The Gathering. Except, you will earn $ or cards with that one.
And why do I think it will go up? Because I like playing the game. Period. Even without incentives, I would play it !
It reminds me of Steem back in the day or HIVE now. I just spend most of my time here because I LIKE it. You will reduce a lot your bad decisions by just investing where you like to be/spend your time.
Shilling time
If you would like to try it out: Sign up using with my referral code: ReeluBRiUf on the website here https://godsunchained.com/account/register?referral=ReeluBRiUf
Latest Analysis
Posted Using LeoFinance Beta
Electronic-terrorism, voice to skull and neuro monitoring on Hive and Steem. You can ignore this, but your going to wish you didnt soon. This is happening whether you believe it or not. https://ecency.com/fyrstikken/@fairandbalanced/i-am-the-only-motherfucker-on-the-internet-pointing-to-a-direct-source-for-voice-to-skull-electronic-terrorism
I survived that crash too and I agree 100% to everything you said.
Unfortunately it means I will always sell on what I consider the top, while it may actually go much higher.
Regarding Gods Unchained - great AAA game. I just hope they will do something about those ETH fees.
Thanks for the comment @ghua.
You have to pay once so let's say you say you want to invest max 2000$ in this game you can put them in ImmutableX with one tx. And then you will be able to buy and sell packs/cards/items for 0$ fees !
Posted Using LeoFinance Beta
Well, I am "max $200" league right now :)
so paying like $15 in fees is 10%
Then yes it is too much. I hope ETH fixes this. It stopped the forging of cards and the growth of GodsUnchained the past 3 years
https://twitter.com/VinnieLemon/status/1453357902505390087
The rewards earned on this comment will go directly to the person sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
Completelly true! But sometimes it just gets hard to actually sell your position in the midst of a bull run... FOMO is hard to overcome!
Still, in times like these, I wish I had USDT liquidity to buy the dip... for some reason, it just never happens lol.
Thank you for sharing your interesting insights! :)
Well I feel the same way at every dip:"I should have had more stablecoins!" :D
We are never happy, aren't we?
Posted Using LeoFinance Beta
It is always a tricky subject. Trading is hard, there is no debate about that. Timing markets is very difficult, especially for the average person.
For that reason, HODLing is often the best approach. However, it is a terrific reminder to take profits when you can. After all, there were many projects that people wanted to HODL in 2017 (and did) which are now dead.
So it is a fine line that all of us have to navigate.
Posted Using LeoFinance Beta
Indeed HODLing projects you believe in (no trading for sure in my case as I suck at it). Nevertheless, even for best projects, selling some coins make me less stress about dips as I have stablecoins in case I want to join back in.
But as you stated, the line is so thin between HODLing to death and jumping off dead projects...
Posted Using LeoFinance Beta
I still believe BTC is going to $100k, but I don't have a road map and a timeline for it.
Posted Using LeoFinance Beta
Oh I also believe it will go higher than right now. But the confidence is not at 99 as I could read it out there. Experience in the CryptoWorld told me usually, Cryptocurrencies do the opposite of what investors/traders expect xD
Posted Using LeoFinance Beta
BTC will definitely go back up but as soon as it broke threw 65k to a new high, I was pretty sure it was going through some price discovery. So in a way, it was probably the short term top and we could go back way lower and the trading chart would be fine.
Posted Using LeoFinance Beta
Yes indeed, I just feel bad for all these leveraged traders 😉.
Dollar cost averaging is the best way to invest without stress hehe 😜
Posted Using LeoFinance Beta
The Bull run is not over yet.... it actually might extend because of more money and institutions joining in and slowly onboarding every major crypto. I also, do not think the bear market will be as severe as it was in the past.... same reason... institutions... but that's just me. Cheers!