The Doge we made along the way...
A while ago, I mentioned how I sold some Doge at around $0.21 or so. Some might say that I sold too early, but that's all relative depending on your situation. Within the last week, Doge went as high as $0.70 in some places and might very well be on its way to $1 after Elon Musk's debut on SNL.
Well, I sold a second batch of Doge at around $0.608 this week. I still got some left, but I will most likely keep the rest of them for educational purposes down the road. Doge is a pretty good primer for people to get into PoW and crypto in general. In fact, I would feel more comfortable teaching kids about mining, paper wallets, etc. with it.
While I'm not here to offer financial advice, but it should make sense to some of you to take profits along the way. It's next to impossible to time the exact top of the market. If you wait too long, you might miss out instead.
You might say, why? It's not the end of the bull market yet. I don't disagree with you, but I've never said I was selling Doge for fiat. There are still many coins that stand to gain a lot during this cycle. I sold Doge to generate capital to put into other projects. Let's be honest here, I got most of my Doge for free, so it didn't matter as much to me that I didn't sell close to the top.
These are the top coins in my portfolio ranked by liquidity I possess. How do you like that 13-week power down still? While my Hive wallet seems respectable, much of it is not liquid. I'm also not too keen about powering down before HBD stabilizes and HIVE goes beyond $2, if that ever happens. Looking at this list, it should be clear that those coins have a lot of potential to move in the upcoming months.
For example, LTC recently passed its previous ATH. The possibilities are now opened for new price discovery. It would also be silly to assume ADA (and DOT) won't ride the narrative of being ETH alternatives to the top of this cycle.
Point being, I'd rather have the liquidity to bolster certain positions right now. Why? Because I have a feeling that the other coins on my list can bring me greater gains than Doge at $1 by the end of the cycle. In this case, I haven't exactly taken profits. I've only swapped one asset for another in hopes of greater gains down the road.
Stay safe and enjoy the ride.
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Hi @enforcer48,My bet is and will be for CARDANO, I read that it is a scam but I do not think so, the project developers take their time so it seems reliable, but I have some more and especially the BTC king in my wallet, apparently this year it is of cryptocurrencies.
Greetings
Yeah, ADA is not a scam. It's a matter of it delivers, just like DOT. We wait and see.
I'd never thought my little hoard of Doge would amount to much and now I am in the process of spreading out the appreciated Capital to better quality coins. $0.661 at the time of this comment.
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Good going!
We have similar portfolios. Not exactly the same, but similar. Not bad friend!
I too agree with pulling profits. While DOGE is bulling like crazy, my car also needs brakes. So its like real world stuff does matter from time to time. If I dont take care of my car now, it will cost more in the future to repair it. I try to look at pulling profits in this way.
Always take care of needs first.
wow. congrats on your profit
Gotta take profits some time.
If you got the Dog coins for free and did not paid any penny, it doe snot matter at what price you sell them you are always making a profit.
I don't like the idea of converting crypto to fiat but rather trade it with other crypto, i am waiting when we will be able to use crypto to buy good and services easily.
Frankly, I consider crypto as “crypto assets” and not “crypto currency”.
If I wanted to use it to buy goods, it would be a stable coin. Makes no sense to use an asset that changes price massively.
Smart move taking off profit along the road. Doge run to top has been quite crazy.
I too believe the bull season is not yet over. Diversifying my assets so as not miss any sudden pump
Just don’t spread yourself too thin.
Sure
I lost all my Doge, lol. Actually, I forgot where I kept all my thousands of doges :P
ADA is cool, it was one of the cryptos I held in my portfolio in 2018. What do you think about IOTA?
I heard IOTA is scrapping everything and rebuilding?
In that case, it may be worth to look into. They’ve been garbage for years now.
I always believed in that project, but I stopped reading about it a long time ago. IoT is a pretty interesting technology, maybe worth a look.