BNB Reddit Mentions | ChartExchange

IMO we need a few more details before any personalized recommendations can be made, but here's a jumping off point.
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You ask if you should take profits, and say you've already taken 500% profit on whatever lucky coin you bought. So, we can assume you sold your entire bag, then bought back in — with an updated buying power of $25,000.
First, given the current market state, and the fact that it sounds like you got lucky with your initial investment, it could be pertinent to de-risk your current position... but we'll circle back to that.
Couple questions and general thoughts —
⋗ Do you have any debt with above a 4-5% interest rate? Do you have any good debt?
Debt can be good, but in my experience, most people asking a question like this haven't found an opportunity to cross the threshold from bad to good. Learn about it, and consider ways you can leverage it in your life. It is one of the keys to financial freedom.
⋗ What's your job, and is that what you want to do for the rest of your life?
$25k could be enough to work fewer hours/part time while going (back) to school or to take a run at turning a side hustle into a occupation. More likely than not, you're going to spend more time working and sleeping than anything else. Take the time necessary to find something you enjoy, and don't settle for less.
⋗ What are your mid and long term goals? What is your current life situation?
Recommendations for someone who's married, hoping to buy a house, just had/about to have kids vs someone single, looking to move somewhere new to go back to school.
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IMO your thinking should all kind of revolve around/circle back to; are you happy/comfortable where you're at and what kind of impact could $20,000 make in your life/future.
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The market looks like it has more downside, but I personally think the four year cycle is dead and that the price action we are seeing is an argument that Bitcoin is maturing as an asset.
However, you don't want to get caught up trying to catch the first 25-40% of a potentially parabolic trend reversal, only to buy in early and lose 30-40% or more of your gains. It's all manipulated. If you think it's the bottom, it's probably not. So again, never deploy all of your capital at once.
My best advice for re-entry is to be patient and wait for confluence between BTC followed by ETH/SOL/BNB all bouncing from major support zones, paired with BTC dominance moving decisively below 59%. Buy in waves and try not to get emotional when you see a big green 4hr candle. Remember, the market is just patient people, taking money from impatient people.
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As far as what you should buy... If it were me, I would probably move 20-50% of it into stocks, but I'll stick to the crypto. Long-term, you have to understand that Bitcoin is king. You can take collateralized loans out against, and never sell. IMO, that gives it the most financial utility of any crypto, currently. That being said, I think that (years) down the road, others could follow suit.
Looking beyond Bitcoin, I would allocate a large percentage of your portfolio to top 10 coins with proven utility — 60-80% — Eth, Sol, Bnb, Link, and whatever else you believe in. I like Solana. The traffic, money, and rwa all seem to be going that way, but it was also $8 only a few rotations aroud the sun ago...
You can do whatever you want with the remainder. I'm sure you'll get all sorts of recommendations from other jackasses; like me, who have too many opinions. I'll check back if this post gets any comments.

.dark-mode .xMr07g{ color: white; background-color: #333333; border: 2px solid white; }.light-mode .xMr07g{ color: #333333; background-color: white; border: 2px solid #333333; }BNBUSDT20240616C550Binance Coin / Tether USD Jun 16 2024 550.00 Callcrypto

BNBUSDT20240616C550
Binance Coin / Tether USD Jun 16 2024 550.00 Call
crypto