Many first-time crypto investors and beginners focus on entering the crypto market. But you should know how to exit the crypto market if you want to take the maximum profit or save your money.
A price target
It is an easy-to-use exit strategy. All that you should do is target a price for your crypto and sell coins when the prices reach that range. Many people set target prices according to their gut feelings. But targets have to be set according to the market analysis results.
Dividing coins
If you want to maximize your profit by using a price target strategy during the bull market you can divide your coins. How does it work?
You own one Bitcoin. Instead of selling it when it hits your target price, you can divide that up into a few pieces. So, you can sell them at different prices.
Dollar-cost average
Opposite to the dollar-cost average buying strategy you can set a selling plan of a day, week, or month and a percentage of your crypto investments you would like to sell. For example, you plan to exit the crypto market in five months. You can sell 20 percent of crypto savings per month or 5 percent per week. It makes sense to do some technical and fundamental analysis before you set a percentage.
Exit by return
It looks like a target price strategy. But your plan is based on the percentage of crypto that you will sell when a cryptocurrency hits the target price. For example, you bought bitcoin for 30,000 US dollars. Your target price is 60,000 US dollars. If bitcoin hits the target price, you can sell 50% of your bitcoins.
Exit by cycle
Some people are following this strategy because it doesn't require research or technical analysis. This strategy is based on the idea of the 4-year bitcoin market cycle theory. The market cycle is the period between two highs or lows of a market. But many investors provide their own research to define the performance cycle of the cryptocurrency to predict when they should exit the crypto market.
The main rule of using any crypto investing strategy is you should stick with your strategy in order to get better profit.
Also, you should know where you can sell your crypto. Many crypto investors use EvBlock because there are easy-to-use interface, high security, user-friendly support, and traditional Swiss quality https://evblock.com/