If cryptocurency rises above January’s high, would you sell?

I Would

definitely take some profits. Sell a little bit to protect my gains by converting them in to a cash once I make reasonable profits. At the end, I would definitely leave a lot of money in the market. I expect in 5, 10 or 20 years cryptocurrency will be used in a lot of different contexts if not in all of them.

The mistake most people make is not taking any profits at all, when or if the market rallies. The biggest mistake I see people make in crypto investing is they are buying at the TOP, they don’t expect for the price other than going up. Suddenly, when the price turns against them, they panic and they eventually sell for a loss. This is what causes any market to go even lower. This is the fastest way to go broke in crypto, and believe me, it’s happening to a lot of people.

I also believe that within the next few years, the tax and regulatory situation around cryptocurrencies will change. Especially in the United States with every other country to fallow. I wouldn’t be surprised if within a few years small purchases in cryptocurrency would not be taxed like the sale of property, as it is now.

Merchants

will be expected to keep receipts for IRS audit and government agencies will treat cryptocurrency like real currency as long as it’s spent to buy things, and not just convert back into dollars or some other currencies. At least a certain amount of cryptocurrency spending will not be subject to capital gains or losses, and all the regulatory mess. I also think there’s an outside chance we get a sweeping regulatory reform regarding crypto, like we did for the Internet in the early 90s.

So why would I sell this year and pay 15–30 percent capital gains tax while missing out on future growth, instead of waiting to use my money for free after it’s reached its max potential?

With that said,

I just hold on to my coins, buy the dip and sell some (perhaps the amount I invested in) next time I’m at a 200%-300% profit. Most traders become greedy when they made a 1,000% of unrealized profit and think they can make another 2,000% profit. Once they have made a 2,000%, they want to make a 3,000% profit and thus never sell. Then the price drops by 50% and they beat themselves up for not selling. Then the next time they are at a 1,000% profit they will do the same thing all over again and not sell 😂...

This is not a financial advice! This is only my plan for my investment. I advice anyone not to do or do the exact opposite of what you just read here.