According to a recent news report from CNBC’s Fast money, they have given an insight to the investors on when to sell cryptocurrency if the price reaches a dangerously low point. They gave 3 conditions on when to sell cryptocurrency.
Bitcoin prices have been up and down since the beginning of May. Bitcoin was expected to cross over $10,000 but ended up falling below $8500. Thus, this proves as an evidence of the instability of the crypto-market and shows that the prices can fluctuate regularly.
The reporter Brian Kelly who is well known for being a money manager, Bitcoin investor and a financial advisor tells investors to have 3 conditions when investing in Bitcoin. The first condition is the Thesis Change. The meaning of this condition is that when the crypto-market is not acting normally or there may be a decline in the prices, it is the first warning sign.
The next condition is to check if new information about the market affects the coin. If it affects the coin favorably then the investor need not worry. If it affects the coin negatively then the investor needs to start thinking about selling his cryptocurrency.
The third condition is to have a predetermined stop point. For example, if the investor has invested around $3 dollars and if it reaches $2 dollars that is when the investor should sell the coin.
In terms of cryptocurrency, if the coin is starting to decline little by little, the investor should sell the coin in the early stages so that he/she does not lose a lot of money.
Sir Altcoin Guy, a Twitter user says:
“do the exact opposite of what Brian says. he doesn’t even know what he’s talking about”
Jon Moore says:
“That these exchanges don’t have all the coins available they say they do, always hold your private keys!!”
The crypto model, another Twitter user says:
“Is this still investing or just hodling & fodling now? Lol. Boy gave up on his thesis on a dipp.”
Igor, a Twitterati says:
“that doesn’t make much sense, to be honest. Most likely end up losing money.”
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