In the crypto world, you can easily be making over 100% profit, but I have read making money is not the difficult thing, it is, in fact, keeping money.
I was happy to see I had enough self-control to take profit, instead of just believing the bull run would never end. There are different strategies to take profit, some decide to take out their original investment, and to let the profit run, I decided to take out my full 110% profit and let the initial investment run.
Fintech is a hybrid word for finance and technology. This is an amazing new market as it is merging two of the biggest industries together. Many people still believe crypto is some scam as there are over 7000 different ones. They class them as one thing and fail to realise Bitcoin, Ethereum are in a class of their own. XRP is 3rd in the ranking in terms of market cap and when you understand their utility and look at the fundamentals of the company (ripple) you can understand how a long-term gain is very realistic.
FIAT money is failing and banks and governments are looking to get into digital currency. America has currently printed more money in a month than they did in two centuries put together.
Yesterday the whole crypto market was down, some even showing a 25% drop, and this is why I was happy I took profit, using my technical analysis when red candles started printing and the short term bull run seemed to be ending (although the long term trend is still very bullish). However, this morning the market is already recovering very quickly and overall I am still in profit as I was not greedy, and used risk management.
Last week I mentioned that even though bitcoin is set to rise to the moon and pass its all-time high, a 30% drop is predicted. This is due to its moving average. Many people pay no mind to moving averages, however, it is important to filter this in just so you are prepared and do not panic. Especially bitcoin has respected its moving average many times and dropped to visit it and then rise back up. This is why I mentioned last week probability can help with risk management.
Although this is not financial advice many analysts would tell you if the 30% drop comes, that is actually the time to buy more not to sell, as many do. Buy low, sell high. Analysts also believe the drop could happen after it passes its all-time high so the drop would still not be below its current price. There are many that are always waiting for a dip to get in, and that dip never comes in the way they want, and even when a dip does come they then get greedy and are waiting for a bigger dip, but don’t be greedy, get in when the market gives you an opportunity to buy low.
FOMO is fear of missing out, the same people that were waiting for a dip then suddenly buy when it is very high as they don’t want to miss out when they start hearing it is rising again, and this is why charts are important because human behaviour does not change and charts show human behaviour when it comes to buying and selling. Bitcoin charts for 2017 can almost match exactly what is happening now. When Bitcoin hits it’s all-time high there will be billions of people coming to the market because of FOMO which will then increase its prices, however, this time around compared to the 2017 bull run there are big players now in Bitcoin, from China having 6% of the mining power, to big billionaire sharks that have invested their companies money. Even Paypal, Square, and many big businesses are allowing people to buy crypto on their platform and to use it to make purchases. This is why crypto is set to get to a trillion dollars market cap as it is still a small market, and when this happens there will be no stopping the digital asset market known as crypto.
Fintech is a very exciting space, with a great future. XRP is an unique crypto as it is trying to work with governments and banks unlike other crypto tokens, there are also many ALT coins that have their own ecosystem and are helping the DEFI space grow (imagine being able to borrow and lend money globally without all the current problems involved with banks and high interest, instead people globally coming together pooling money together and allowing money to be cheaply borrowed and you can earn interest in just allowing your money to be used in the pool, this is what is already happening with DEFI coins, this is why they too will have their second bull cycle as their market users increase and new utilities offer new enticing functions etc including new tokens.
XRP has linked with Flare and is offering a 1:1 free airdrop for the new Flare tokens that will be launching early next year, just from you having XRP tokens. Imagine how rich you would be if you got bitcoin at the start, this is some of the excitement about joining crypto and new businesses/utilities from the start.
You can register on Exodus crypto app to take part as they can register your wallet address with just one click, unlike some exchanges which make the process more messier. The snapshot date is 11th December midnight, were your XRP amount will be sent to flare who then will match your amount with free Flare tokens on its official launch date.
I was happy to take my profits off Coinbase (which was an instant transfer to my bank account, I thought like Trading 212 it would be overnight but coin base is instant) and invest it into the stock market; but under MARA a public limited blockchain company that has predictions to rise by 1100% as they are increasing their productivity including mining power and will be able to mine 15 to 20 bitcoin a day. They are top 6 of the blockchain public companies even though they are still a penny stock that has now risen to $4 a share. A few critics mentioned their current financials, however, fundamentals are not always the main point about investing. It is crucial you think about where money will be in the future, not only where it currently is. If you also look at their 5-year chart history you see they used to perform very well and are now breaking their downtrend slowly rising especially as the fintech industry is emerging to new heights.
Being greedy can also cost you profits when doing day trading or swing trading with stocks. I remember my first time when I saw my penny stocks go up over £400 and I sold them and was over the moon, my first big win. However, after this although my daily target for stocks trading was £50 a day (although I also do long term investing), I started to feel, will this be my day for a next big win, so instead of sticking to taking my daily profit when I saw it, I would be waiting for huge profits and then ended at a loss. Whether you are doing swing trading, day trading, forex or investing and trying to do dollar cost average etc, or buying on dips, don’t be too greedy and remember you have only made real profit when you actually sell.
A father, a teacher, a poetic life coach who knows to say it, feel it, see it like you already are it, now repeat it, till you are it. Obtaining wealth is a skill that can be taught. Fulfillment, completeness and divine wholeness is a manifestation of your choices. Make the right choice and transform your life, one word at a time.
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