The astonishing surge in the value of Bitcoin (from $10,000 to over $60,000 in 2021) demonstrates the incredible potential profits from investing in crypto.
In 2017, the value of a single bitcoin went from $900 at the start of the year to almost $19,000 in December — this further proved the worth of digital currencies and their extreme volatility. Cryptocurrencies, including the best known — Bitcoin, are revolutionizing the financial landscape in many unexpected ways. This means that, as a trader, you need to know when to sell your cryptocurrency on trusted platforms such as Nakitcoins.com.
When to sell your cryptocurrency on Nakitcoins
Nakitcoins is a reputable Turkish crypto firm that makes it easier for investors to sell their crypto for high returns with little fees. You can sell BTC and transfer the proceeds to your bank card. Are you in dire need of cash or you want to send funds to your family and friends with lower fees using Bitcoin? You can do just that with Nakitcoins without any limits.
Sell your cryptocurrency at Nakitcoins, and receive your funds through your bank card. That is one fast solution if you need cash ASAP.
With NakitCoins, crypto holders can sell Bitcoin and receive funds through their bank cards instantly. The trusted crypto platform supports two major fiat currencies namely US dollars and euros. To sell your crypto, choose the currency that matches your bank card currency this will — save you a lot of money on currency conversion fees.
When you sell Bitcoin this way, you may be asked to provide the bank card holder’s details. Ensure that all the information you provide is accurate so you can make money selling your Bitcoin as and when you like.
Bitcoin boom: when to sell your cryptocurrency?
Deciding when to sell your cryptocurrency is a hard decision for investors to make.
One way to make an informed decision about when to sell your crypto is to look back at stock prices during the dot-com boom. Several investors purchased stock from internet companies in the 1990s. When the stock values climbed to record heights, people wondered whether to hold or sell.
Eventually, those who made the mistake of HODLing their stock later suffered massive losses when the bubble bust, while their counterparts who acted quickly reaped huge profits.
The fact is that selling your Bitcoin right now during the current market boom will earn you good returns if you invested early enough. However, you need to predict whether the market will crash or not, moving forward.
The dot-com boom example shows how important it is to know when to sell your cryptocurrency before you make any move. While crypto investors want the highest possible returns, practicing a little caution can save you from big losses.
Of course, while things may be going well for Bitcoin today, you must understand that current trends won’t necessarily continue forever in the future.
So, create an investment framework that protects your assets from market dips even as you try to take advantage of the volatile crypto market. No one knows when the Bitcoin bubble will burst. That said, knowing when to sell cryptocurrency is the key.