Welcome back,
A lot of people might be thinking about what to do right now with their tokens. I am saying this because Bitcoin created a new all-time high just a few minutes before I started writing this blog, so when you are reading this blog, probably Bitcoin might have crossed even $126000, and Ethereum as well crossed $4700, which means that Ethereum is finally heading towards its all-time high. This is the time when we are going to see it breaking very soon, and this is not a prediction, this is a spoiler. I know it is going to happen, everything is good for Ethereum, and let us now talk about what to do with your holdings.
This is the reason why I always say that there have to be two holdings. One should be a short term holding and the other should be your long term holdings with long term targets. If you are someone who is just there with your long term holdings and you are not strategizing on short term scenarios, then you do not have the right to panic in such situations. Just hold on to your tokens and wait for the market to perform better for your token so that you can exit from them.
If you are someone who has short term holdings as well as long term holdings, then you can probably sell your short term holdings in portions just like you buy them in portions and do dollar cost averaging. Now, dollar cost averaging is not only beneficial when you buy the token, but when you sell it, you can still practice the same thing by selling it at different prices so that you achieve an overall better selling price for that token. That is what I personally do.
So what to do right now, I am going to tell what I have done. I recently purchased Lido, which is one of the best Ethereum ecosystem tokens in which even the big institutions are interested. I bought it at around $1.09 and I sold it at $1.28, and in the very short term, it can still reach $1.4. In the long term, I think it will cross at least $3 to $4, but I sold it at $1.28 as I bought it with short term intention and I made a 17% profit on it, so I am happy. That is how you live with peace in the market.
I am going to look at the market very closely for another few days because even though Bitcoin is looking quite powerful as the majority of the strength is still in Bitcoin, I think the trend is going to shift very soon, and that is when I am going to decide on what I have to do with the long term holdings. I am going to create the targets for all the tokens I own and I am going to share them here.
If you are following me, then you already know that we created a testing portfolio and added a few tokens in that, and that portfolio is performing really well, especially the Ethereum Finance token which is coming from the Ethereum ecosystem itself and is performing extraordinarily compared to the rest of the tokens in the market.
Now I am going to just hold on to my bags no matter if they are on my short term or long term radar because the market looks quite manipulative right now, and we can see a massive pump in the next few hours. So maybe if you are someone even with short term intentions, just hold on to your assets as you might get an opportunity to book profit at higher prices.
If you want to be on the safer side, sell 50% of the token and hold 50% of your short term holdings. For the long term holdings, I already said that you do not have to panic. Just hold on to your bags, ignore them, do not look at them, and enjoy your time with the family.
Thank you and happy trading everyone.
Posted Using INLEO