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- When to Sell Crypto – Like the Pros Do
When to Sell Crypto – Like the Pros Do
PLUS, Bitcoin’s BIGGEST hater – revealed
Big Joe Crypto
July 22, 2023
Hey – this is Big Joe Crypto.
I'm here to help you keep a tight grip on the latest crypto news and market insights.
And speaking of keeping a tight grip – I’ll explain why I have such a tight grip on my crypto and why I’m not selling anything - yet. Let’s dive in.
Here's what's happening today:
🙅 Why I’m not selling my crypto (yet)
📺️ [Video] Watching a real life Bitcoin hater in action
📛 FTX fraudster, SBF, is back in the news
Got big crypto questions?
BIG MOVERS: THE CHARTS
*Prices as of 10:30 PM EST. BIG Movers based on top 300 cryptos by market cap.
TODAY’S BIG STORY
When to Sell Crypto – And Why I’m Not Selling (Yet)
There’s a saying in crypto that goes – “HODL”. Yes, that’s a play on the word hold, with the letters re-arranged a bit.
To put it in perspective, think of HODL as the crypto investor's mantra to resist selling off their coins, even when the market gets as shaky as a Chihuahua in a thunderstorm.
Why is this concept so important right now? Let’s dive in!
The big perspective…
I've always said that the crypto world is a lot like riding a rollercoaster – it's full of high peaks, terrifying drops, and a whole lot of thrilling twists and turns in between.
You know what's not thrilling, though? Exiting the ride just when it's about to get interesting.
Right now, I’m seeing signs that it's a pretty good to get into the market rather than sell any of my crypto.
But it's not just a gut feeling talking here; two of the market indicators I use are echoing the same sentiment.
"But wait," I hear you say. "Market indicators? That sounds too much like my 8 AM financial accounting class. Snooze!"
Don’t worry – we're not going to get lost in the weeds. And these indicators are much easier to understand than you might think.
When to sell crypto – Signal #1, the Pi Cycle Top Indicator
First up, let's introduce the star of our show – the Pi Cycle Top Indicator.
This isn't just any indicator, it's an oracle of the crypto world. It's designed to sniff out when Bitcoin's price is about to reach the mountain top before it starts its descent.
Historically, this trusty tool has been extremely accurate, making it a one of my favorite ways to know when to finally hit that sell button. 🔘
What about Ethereum and other Altcoins, you ask? Well, their price peaks tend to follow Bitcoin's like a younger sibling, lagging weeks or even months behind.
That gives us a handy heads-up to start thinking about offloading those assets when their prices hit the sky.
When to sell crypto – Signal #2, the 2-Year MA (moving average) Multiplier
Our second guiding light is the 2-Year MA (moving average) Multiplier.
This indicator is like a weather forecast for the crypto climate.
As Bitcoin gains acceptance, it faces sunny periods of excitement that spike its price, and stormy bouts of skepticism that plunge it. Spotting these weather patterns can be instrumental in deciding when it's time to sell your precious crypto.
Now, remember, these are just two of the many tools I use to navigate the crypto maze. There's a whole arsenal I use.
And if you want to see how I use them and when I’ll finally decide to sell my crypto, check out my Crypto Compass.
🤔 Why you should care
At the end of the day, making gains in crypto is a bit like a game of seesaw – you aim to buy low and sell high.
While it may sound as easy as pie, it can be trickier than a Rubik's cube to get right, because the emotion of greed usually gets the best of people.
That's where our friendly indicators come into play, giving us a nudge when it's time to make a move.
Right now, my indicators are more relaxed than a sloth on a Sunday, signaling it's a grand time to hop aboard the crypto train, rather than disembark.
So that’s exactly what I'm doing.
Holding the crypto I have, and using secure platforms like Kraken to buy more. 👍️
It’s important to note that I’ll be watching things closely and if things change, my strategy might change too.
If that’s the case, I’ll always let you know what my plans are.
Stay tuned!
More Big News…
Watch a Real Life Bitcoin Hater in Action 📺️ 🍿
Now that you know my stance of holding my crypto for the time being and even buying more... it's important to know that not everybody feels the same way – which is fine by me.
In fact, in my beginner’s guide to crypto investing, I explain that 99% of people don't understand crypto yet. Which is why people like you and I are so far ahead of the game!
Embracing people that don’t get or like crypto is all part of the path to successful investing in my opinion.
Even people like Larry Fink, aka “the most powerful man on Wall Street” went from “Bitcoin is for bad people” to “Bitcoin will change the world” in just a couple years. Read about Larry Fink’s new found love for Bitcoin and crypto here.
But, now we’ve got another Bitcoin hater who’s making the news waves… but who is it?
The big bitcoin hater…
Ben McKenzie, the actor known from the O.C., says that crypto resembles a Ponzi scheme or multi-level marketing.
Have a look at the video yourself and see what you think…
🤔 Why you should care
We're knee-deep in an era where digital currencies are sparking debates left, right, and center.
It's no secret that crypto - and Bitcoin, in particular - has had its fair share of skeptics.
Not everyone gets crypto, and frankly, not everyone HAS to be on board.
But here's where things get interesting for folks like you and me.
What truly matters is not the chorus of mixed opinions, but that YOU understand the essence of crypto and that you take the right actions to better yourself and your life.
Getting into crypto now, before the masses have their "eureka" moment, is a huge advantage.
Remember, we’re still very early in crypto – and that’s why we’re best positioned to win big.
I talk more about that here if you want to dig a little deeper.
TODAY'S BIG CRYPTO TIP
“HODLing” with a Plan
In the world of crypto, two crucial aspects go hand in hand:
1/ Buying.
AND
2/ Selling.
While it's important to buy and cryptocurrencies strategically, it's equally vital to have a well-thought-out plan to sell.
HODLing, which means “hold on for dear life” or simply holding onto your crypto assets for the long term, is a popular way of thinking in crypto.
It's all about staying patient and resisting the urge to sell in a panic during market fluctuations.
However, successful crypto investors don't just HODL blindly.
They have a clear plan for when they'll consider selling.
Having a plan in place ensures that you make rational decisions based on market indicators and your own financial goals, rather than being swayed by emotions like fear or greed.
Remember, while HODLing can is valuable, having a well-defined selling plan is equally important.
That said, stay disciplined, stay informed, and HODL with a plan. 👍️
MORE BIG HEADLINES
😮💨 FedNow launch re-ignites dollar debate.
👀 SBF is back in the news. This time for leaking Caroline Ellison's private diary by U.S. DOJ.
🤔 Analyst claims BlackRock ETF approval is unlikely.
BIG LAUGHS! TODAY’S MEMES 😂 🤣
In all fairness, crypto is a big playground, but it doesn’t have to be difficult to explain or learn. Get the official beginner’s guide to crypto investing here. 👈️
Lol! Yup – Gandhi got it right. Read more about BlackRock’s move here.
DISCLAIMER: Nothing in this communication, or from Big Joe Crypto and associated bigjoecrypto.com domains is financial advice. It’s all educational and is not investment advice, a recommendation or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful, stay rational, and do your own research (DYOR).