As Bitcoin (BTC) reached its recent high of $ 40,180, many crypto investors began to get excited, "Can I sell here?"
In fact, in cryptocurrency investing investors should be prepared for any eventuality due to its high risk and volatile prices.
Because of that, some are more comfortable to sell when the price is rising (take profit first) and some think it is safer to sell when the price has shown a decline (so as not to lose much).
The question is, when is the best time to sell cryptocurrencies?
If you keep crypto assets that are no longer competing with any currency, it is better if you sell them while there is still a chance!
When the cryptocurrency community starts to shrink or there is no more good news about it, it may be time for you to sell. For example, the XRP sued by the Securities and Exchanges Commission (SEC) has caused many investors to start selling XRP.
When a crypto exchange platform deletes your currency, hurry up and sell it! Just like the XRP case, many crypto exchange platforms ‘throw away’ XRP as soon as the SEC issues a lawsuit.
The state administration suddenly made an announcement to restrict crypto trading activities. This is the time when you have to sell your crypto assets (although maybe that time Bitcoin is in decline).
You are also encouraged to sell cryptocurrencies if most of the crypto mining activities in major countries start to be blocked immediately.
‘Fundamental’ is the main basis in decision making. If market fundamentals still support cryptocurrencies, then it is still safe to continue holding your cryptocurrencies. If the situation is otherwise do not hesitate to sell it. Including the performance factor of the US dollar. It can also affect the movement of cryptocurrency prices.
Ultimately, with difficulty in predicting market conditions, you will be stuck either to BUY, SELL or HODL currency. Right?
Anyway, before taking action make sure you follow the Kakiforex portal from time to time to always be aware of the latest market conditions. From there, you can make wise decisions!
