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BTC -> $1M? Beware false prophets & take real profits.

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by COINS NEWS 14 Views

I have lived through the experience where my portfolio gained and lost more than a year's salary in the course of a few hours. Too many times than is good for my heart. The adrenaline rush is intense.

One thing I've learned the hard way: the price of the things currently in your portfolio is largely irrelevant. What is relevant is the price that you got when you sold, versus the price that you paid when you bought.

Everything else in between is largely entertainment, .

There is a lot of fluff being posted that is clearly appealing to base emotions, and a lot of emotional response. Experience tells me that a froth is coming. Could be upside froth, could be downside froth. It's really hard to tell whether the powers behind it are positioning to exit into liquidity, or drawing in more interest to exit later. Could be more than one and could be both... froth is like that. I am very concerned (given sanctions etc.) that we could have state or state-sponsored actors engaged here. If that's the case, we're like frogs in a swimming pool with hippos, and that's a recipe to get flattened or sloshed far out onto dry land. So while I'm with everyone else giddy at the expectation of rising prices, my Spidey sense is tingling.

In the past, I've set profit targets, extracted profits, and then watched as what would-have-been in my portfolio rocketed up in price, and then rocketed right back down again. It was hard at the time. I didn't net as much as I could have, but I did net more than I would have.

If the market gets frothy... experience says "pick target points to exit", and invest profits in other asset classes in order to build a diverse portfolio.

submitted by /u/jps_
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