crazy bitcoin dumped 5000 US$ today!
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This is absolute lunacy. You must ask yourself: "Why did I buy this asset? Why am I holding it?" Was it not to make a profit? This is not a psychological phenomenon unique to bitcoin. Look at what happened in the early 1980's after gold's parabolic rise. Those who refused to sell their gold at the peak took terrible losses. You need to know why you purchased an asset in the first place -- and you need to have an exit plan and take profits. History always︀ repeats itself. And investors make the same mistakes over and over. This is why I︁ study cycles.
So, the decision to come to a "sell" aka leave︁ that investment is quite easy if something went up a lot and "taking profit" is︂ thrown around a lot.
If you exit the trade which everyone and his dog does︃ you end up with usd. Is that a good buy?
You cannot really "sell" anything.︄ You always end up buying into something else.
But then the very difficult question again,︅ taking profit into what ?
I do not want to hold on to too much︆ fiat including usd, especially not in the form of bank balances. Gold is also cumbersome︇ to store and even 100x worse to move and my trackers also not the real︈ deal and are again "stored" at banks.
If you exit the trade which everyone and his dog does︃ you end up with usd. Is that a good buy?
You cannot really "sell" anything.︄ You always end up buying into something else.
But then the very difficult question again,︅ taking profit into what ?
I do not want to hold on to too much︆ fiat including usd, especially not in the form of bank balances. Gold is also cumbersome︇ to store and even 100x worse to move and my trackers also not the real︈ deal and are again "stored" at banks.
I could think of dozens of example. How about a working farm? If done properly, they are cash cows. Everyone needs food all the time. Food is a perfect asset in every economic cycle, but especially during an inflationary cycle. It is historically offers the number one ROI, ranking above the equity markets and all other asset classes.
Or a portfolio of unique pieces of real estate in various jurisdictions. The key is unique. In other words, there will no other one like this one. Buy real assets that appreciate in value and offer an income.
Or a portfolio of unique pieces of real estate in various jurisdictions. The key is unique. In other words, there will no other one like this one. Buy real assets that appreciate in value and offer an income.
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