My Action Plan for Next Crypto Bull Run
A few months ago, I made a video talking about my action plan in the case of a prolonged bear market for cryptocurrencies in 2018.
I thought I would follow that up with a video for the opposite scenario, discussing what I'd do if we were heading into another great bull run in 2018 and beyond.
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
I went all in 2017 and literally have no plan but to wait it out. The truth is that altcoins are almost half or more in my portfolio. I actually regret not getting more bitcoin and ethereum because they are part of any good portfolio. I would like to extract some value in 2018 and leave the rest be.
The fact that you mention that Ethereum doesn't seem like an altcoin. This is interesting because I too feel the same way. ETH is up there with Bitcoin and it is the rest from the coins that seem like altcoins
The next big bull run up in market cap, i will take a bunch of my vested fund. Soi can make much gain.I will be in a kind of relaxed mode if all is going red.
You are right, in bear market you just have to wait it out, unless circumstances force you to sell it. Which should not happen since no one should invest in crypto not being prepared to loose 100% of your investment. I personally don’t have all cash in my cryptocurency portfolio. I’m invested in other assets as well as having fiat put aside. As long as you are able to sleep at night you should be fine. If we are in another bull market and I would have significant gains in my crypto investments, i would start scaling out, just like I do on the way down but the opposite. Not entirely, but taking some profits on the way up never hurts. I would cash out upto 30% and wait for another dip to reinvest it. My mind is definitely se for long therm and not just to take a profit and run.
I'm pretty much in agreement with you when it comes to basic strategy. Bitcoin ain't dead yet by any means. While I'm not super excited about the difficulty of reaching consensus within the Bitcoin community I do recognize the fact that if Big Money wants to get a hold of cryptocurrencies it will be Bitcoin first because Bitcoin is the largest market cap coin and the least risky one. Very few decabillion dollar funds are going to go all in on any poorly known small caps or an assortment of them. :D Ethereum, Litecoin or Ripple perhaps but none of the others.
One smart strategy to follow is to let the percentage of your crypto oscillate with the bull and bear markets, similar to the strategy that Marc De Mesel has. Thanks for sharing your thoughts @louisthomas
Everyone is on the race and getting prepared for the next bull run possibly after the consesus. It’d be so nice to hear your plans my friend. It’d definitely help me to make my own decisions. Loading the video now
There i always a two side to a thing, we might have a bull run or the other side. Its good to be prepared for both in a crypto market that's still fairly new to most people
Curious why you do not include LTC on the list so you have the big 3. Would love your thoughts.
lovely video @louisthomas
thank you for sharing
resteem
IMHO I think that your analysis is spot on and sound advice.
I think a lot of the ICOs in the space are poor and will eventually head to zero when they have to deliver. Also it is instructive to point out that all crypto is tech driven and the bottleneck for all cryptos is the availability of competent developers. If you were such a developer would you rather code for BTC / ETH or for some scammy and obscure alt-coin. Long term I think the risk in holding most alt-coins is off scale so in the next bull run I would look to accumulate BTC and maybe ETH and perhaps on rare ocassions trade alts short term.
Thanks for the video I now know how to describe myself .. I am a "bitcoin maximilishist" :-).