Messari Founder Urges Investors to Hold, Avoid Selling Crypto Profits
According to Messari founder Ryan Selkis, it is recommended that you hold onto your crypto assets for the next few months. Selkis suggests making strategic moves when the market-value-to-realized-value (MVRV) surges two to three times, indicating potential overvaluation of prices. He advises holding onto BTC and taking some gains once the MVRV crosses 2-3. It is also important to set aside half of your gains for taxes and use the other half to play with if you wish.
Crypto Influencers’ Profit Tips in Today’s Market
In a recent Twitter post, another crypto influencer, Neuner, advises against rushing into the crypto market as prices continue to rise. He compares the current bull market to a marathon and states that there are still opportunities ahead. He cautions against trying to catch every trade or time every trade perfectly, as most people will end up losing money. Neuner also mentions PEPE as a coin to closely monitor, as it can indicate when the market is getting overheated.
Hot Take: Maximizing Crypto Profits in 2024
If you want to maximize your crypto profits in 2024, it is crucial to be strategic and patient. Instead of selling your assets right away, consider holding onto them for a few months. Look for indicators like the market-value-to-realized-value (MVRV) ratio to determine if prices are overvalued. When the MVRV crosses 2-3, it may be a good time to take some gains. However, remember to set aside a portion of your profits for taxes and use the rest wisely. Additionally, don’t rush into every trade or try to time the market perfectly. Focus on long-term opportunities and be aware of market indicators like PEPE, which can signal when the market is getting overheated.
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