Build during the bear, take profit in the Bull.
To put it in another perspective — Cook with the Bear, Eat with the Bull.
Crypto is like a meal and every one of us will have to cook and eat depending on the ingredients and the type of meal that can satisfy our soul.
Hivers have their $HIVE meal. I prefer the $HIVE meal to be my favorite. We have those who like to have the big and expensive meals like $BTC and $ETH. But I won’t go into that here. I think it’s already sounding like a crypto fiction already, lol. That’s just how my mind like to make shit up, and make it look like the real thing these days, so forgive me if I’m exploring this part of me today.
This is simple to imagine when looking from the outside because when you see people serve this advice to people who are looking to cook and eat with crypto, what they forget to point out is that…when exactly is the right time to cook and the proper time to eat.
Else you burn yourself and live to regret eating too fast.
I think anyone reading this is already asking himself if I’m really talking about crypto or food. Well, to put it simply, the cooking period is like the bear market where you build, while the bull season is the time to eat what you’ve made all through the bear.
What you cook, is what you eat. You can’t buy shib and sell it as bitcoin. And whilst it’s okay to build and cook during the bear, it’s even more important to know to eat and take profits so we don’t eat while it’s too hurt to burn ourselves, nor should we wait for too long else the food becomes too cold that it eventually loses its soothing aroma, and it’s warm and delicious taste. At this point, the food (coin) already lost its previous taste and value. So we have to eat while it’s cold, and settled for less and a cold meal.
And unlike your kitchen where you can easily warm your meal when it’s cold, with crypto, once the food (coin) is cold (has dumped) you have to wait for another cycle before you can make it hot again.
Here, you can’t just hit the kitchen, light the gas and warm the. The head chef has closed his kitchen to resume business in the next cycle.
Now or later?
I believe this is a question that boils down to individual's cooking schedule, I.e., when he bought a coin and how much profits he’s trying to take.
When to take profits is a double-edged sword question to answer because we can’t say exactly at what time will crypto reach its peak and start dumping again. And if you sell too soon, then you’re definitely going to lose out on more gains. And if you want too long before you sell, you might have to seek at a loss or don’t sell at all to go hungry for another cycle.
Whichever the case, I believe it’s okay to lose out on some gains as long as we are not selling at a loss. Some people are calling for 100k, some 250k, and some are even rooting for a million dollar BTC.
At a time like this, It’s best to know that everyone is just speculating. And we should remember that we are the one who holds the spoon, and we can eat at any time.
Nevertheless, as a realist, I believe it’s best to eat slowly and secure enough profits in a slow and steady way. I don't know whether there’s something like DCAing out or taking profits at a slow and steady pace, but if there were something like that, I believe it’s the best strategy to use as the market is about to break out from its previous all-time high.
When to eat and take profits is a question we’ve got to answer for ourselves, but at the same time, it’s best to take some profits than to be greedy to the point of ending up with a cold meal(selling at a loss) or wait for another cycle.
To be forewarned is to be forearmed.
