Bear Market is inevitable: Take PROFITS. Just not into FIAT.

Cryptocurrency is a fascinating asset. Much of the market depends on how Bitcoin does. And, Bitcoin is even more fascinating asset as its cycle depends on its halvening. Bull market such as now may make us feel that Bear market will never arrive. However, bear market is not a speculation. It is fundamental. So, it seems wise to take profits during a Bull market. My initial strategy was that if a coin doubles in value, then, I would start taking profits. But now that some of my investments have doubled in value, I am in a dilemma: What the hell will I do with those profits? If I take profits, my cryptocurrency money will be converted into Fiat (an inflationary asset which I do not need immediately). If I keep my Fiat in my bank account for 5 years, the interest I will earn will be negligible. I don't have enough to purchase a house with my profits and buying a luxurious car is stupidity. Traveling seems tricky due to COVID-19 restrictions from where I am. However, I am a crypto-maxi like many of us. I believe cryptocurrency is a next level technology. Just like the discovery of fire, invention of a boat, invention of printing press, or the invention of the internet. It is there to change how we do things, and shape our future. So, I plan to take profits into Bitcoin and Ethereum rather than to Fiat. I do not believe in Fiat. But I believe in Cryptocurrency. But what if I am wrong about cryptocurrency? I would have stood for something that I truly believed in. And, I will have no shame in that. What do you guys think? What are your own strategies in taking profit if you do or when you do? TLDR: My strategy is to take profits into BTC and ETH and HODL it rather than into Fiat as I believe more in Cryptocurrency than Fiat. submitted by /u/Ozymandius21 [link] [comments]