Woohoo, looks like the crypto bull run is just around the corner! Bitcoin and other altcoins are starting to show their strength. Of course, we all want to make big bucks, right? But don’t get too greedy and fall into the trap! To maximize our profits and avoid losses, let’s check out these effective tips:
1. Bitcoin Still Rules!
Even though altcoins are getting hyped and seem tempting, don’t forget about Bitcoin! Bitcoin is like the chief of the crypto tribe. If Bitcoin goes up, usually other altcoins follow. But if Bitcoin goes down, well, it could be a bloodbath for everyone. So, it’s very important to keep Bitcoin in our portfolio, at least 50%.
2. Be Prepared for the Rain (aka Have Cash!)
The crypto market is like a roller coaster; it goes up and down really fast. So you don’t panic when the price drops, make sure you have enough “ammunition,” aka cash. Now, you can use this cash to buy crypto assets when they are on sale (aka during a correction). So, prepare about 30% of your capital in cash!
3. Don’t FOMO!
During a bull run like this, there will definitely be a lot of new crypto projects popping up with all sorts of promises of profit. Be careful, don’t…