Hold It Or Take Profits? VC, Early Bitcoin Investor Knows The Answer

Hold It Or Take Profits? VC, Early Bitcoin Investor Knows The Answer

Bitcoin has demonstrated quite a significant growth for itself in 2017, soaring up by around 1,400% between January and mid-December. Currently, the king of all cryptos is living through a period of swings.

At the end of 2017, after going through a severe correction on December 22, reaching the low of $12,000, bitcoin appeared to be in stagnation. The early 2018 period gave some positive signs of recovery. However, the coin started sweepingly going down after January 7. At the moment of writing bitcoin is being traded at about $14,600.

Our top trading bots

However, it still remains an appealing target for piling in as it is the coin with the largest market cap among all the digital coins, which makes up about $246 billion. Moreover, a larger number of trading exchanges continues to embrace bitcoin-based futures, e.g., Cboe and CME.

The situation is no different concerning the most known altcoins, for example, Ripple, Ethereum, Litecoin and the rest, which also showed a significant rise and even overcame the expectations of lots of crypto enthusiasts and critics. In particular, Ripple skyrocketed by 35,000% in 2017, as CNBC reported.

Hence, no wonder that immature investors contemplate when it comes to holding their crypto assets or to take profits as soon as possible. One of the first bitcoin investors and a venture capitalist Fred Wilson seems to have a pretty satisfying answer to that question.

To Be Or Not To Be?

Wilson, who is also the Union Square Ventures co-founder, believes that it is better to take some profits once you see vast revenues in the crypto assets. He highlighted the beneficial side of such an approach in his personal blog AVC

"If you are sitting on 20x, 50x, 100x your money on a crypto investment, it would not be a mistake to sell 10%, 20% or even 30% of your position. Selling 25% of your position on an investment that is up 50x is booking a 12.5x on the entire investment while allowing you to keep 75% of it going," Wilson explained.

The 56-year-old Wilson emphasized that plenty of those who hold their crypto assets are afraid of selling them because they think it is a mistake to do so. However, the venture capitalist assured, there is no guarantee whether they will make a mistake or not. Everything in the crypto investing world is dependable and tough to predict.

DeFi detective alleges this ‘suspicious’ smart contract code may put dozens of projects at risk
According to famed decentralized finance (DeFi) detective Zachxbt, 31 nonfungible token (NFT) projects may be at risk due to “suspicious code.” In a lengthy...
Analysis-Crypto exchanges won't bar Russians, raising fears of sanctions backdoor
By Tom WilsonLONDON (Reuters) - Some of the world's biggest cryptocurrency exchanges are staying put in Russia, breaking ranks with mainstream finance in...
One currency to rule them all: Facebook’s Diem has global ambitions
The year 2021 seems to be a big year for the blockchain world as several projects, such as nonfungible tokens (NFTs) and centralized decentralized finance...
SEC registrants seek DeFi and physically backed Bitcoin ETF approval
Crypto companies from the United States filed two registration statements with the Securities and Exchange Commission, seeking permission to sell exchange-traded...
MonoX raise $5M to launch single-token liquidity pools
Automated market maker MonoX has today announced a debut capital raise of $5 million from venture firms including the likes of Axia8 Ventures, Animoca Brands,...
NFT projects and high yield opportunities back Zilliqa’s strong rebound
One of the most important factors in the long-term success of a blockchain platform is having an active community of supporters and developers that work...
Thailand's central bank outlines safeguards for a future retail CBDC
The Bank of Thailand has published the results of a new study into how to manage the implications of issuing a retail central bank digital currency (CDBC)...
Darknet crypto mixer operator pleads guilty to laundering $300M in BTC
Ohio man, Larry Dean Harmon, has pleaded guilty to laundering more than $300 million while operating the Darknet-based Bitcoin mixing service, Helix. On...
Treasury Secretary reportedly against amending crypto language in infrastructure bill
On Wednesday, several United States senators proposed an amendment to an infrastructure bill that would clarify language concerning crypto. Even though...
Demand for digital euro not yet clear, says BBVA exec
An executive at major Spanish bank Banco Bilbao Vizcaya Argentaria (BBVA) has raised concerns about the digital euro and questioned what customer demand...
Crypto market cap recovers $76B, altcoins rally after Bitcoin hits $34K
Cryptocurrency traders received a reprieve from bearish market conditions on June 23 as Bitcoin’s (BTC) brief recovery to $34,880 triggered a rally in altcoins...
Sotheby's auction sets new world record for $11.8M CryptoPunk sale
Luxury auction house Sotheby’s made waves on social media on Thursday following the sale of one rare CryptoPunk.In a tweet from Sotheby’s, the auction said...
EOS Climbs 34% As Investors Gain Confidence
Investing.com - EOS was trading at $9.4591 by 22:57 (02:57 GMT) on the Investing.com Index on Thursday, up 33.55% on the day. It was the largest one-day...
Messari: New Coinbase listings really do outperform rival exchanges
Crypto analytics provider Messari has compiled a report concluding that the fabled “Coinbase effect” — the popular belief that new token listings on Coinbase...
Price analysis 3/31: BTC, ETH, BNB, ADA, DOT, XRP, UNI, THETA, LTC, LINK
Following in the footsteps of Morgan Stanley, Goldman Sachs has announced plans to allow its wealth management clients to trade in cryptocurrencies and...