This is what smart cryptocurrency investors do
I recently sold XRP and some other altcoins. You might be thinking, that is crazy. Why would he do that since we’re still in the middle of a bull run?
This wasn’t my plan, but I had to make some moves for financial reasons.
Yes, I wanted to profit on the bull run, but I had an issue.
I had to buy new tires for my car, and they were not cheap.
At the same time, Donald Trump announced he was starting the tariffs on China, Mexico, and Canada. Last month, he said he would delay it, and some thought he might change his mind and drop it completely.
Well, that didn’t happen.
This caused the cryptocurrency market to drop. Just about all cryptocurrency prices dropped. Some cryptos reached new lows not seen since last year.
When I looked at my account, I saw I was underwater on a few cryptocurrencies.
Underwater — this means the price of the cryptos was lower than my purchase price.
For me, this was the perfect time to make bigger trades and reap the rewards.
