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I want to hear from you:
- Have you ever been profitable and taken profits in the crypto market?
- How did you use that profit? Do you use that profit or reinvest it?
- Do you think using profits is also important for your investment journey?
1. Yes I have been profitable, but hadn't taken out any profits yet in all of my crypto holdings. I believe that we aren't still in the bull run yet, and I also have to selling price targets where I will automatically sell all of my holdings if it reaches that price. I had an opportunity in 2021 to take profits, but I chose not to. Turned out to be one of the worst decisions I've made, and I'll never do it again.
2. Re-invest. I don't take out profits just because I need to buy something that I want or need. As much as possible, I would like to re-invest it into different assets and in that way, I'm building my wealth little by little for the long run.
3. Yes for many reasons. Whether you want to reward yourself, or you want to buy something that you need, or you need to pay something through your profits. Using profits for something that you want is still important. I mean that might take away the opportunity to earn more, but if you're working then I guess you can just gain that money again, right?