🔵 ULTIMATE CASH OUT PLAN!!! [PART 2] – Top Questions About Taking Profits With Bitcoin & Altcoins

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Written by

ColinTalksCrypto

Cryptocurrency Blogger - https://ColinTalksCrypto.com

2 years ago

BUY GOLD WITH CRYPTO: https://goldsilver.com?aff=CTC

ColinTalksCrypto Bitcoin Bull Run Index: https://cbbi.info

Watch PART 1 of this video: https://youtu.be/m_Ip3WGwiAc

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This is part 2 of the ULTIMATE CASH OUT PLAN.

What if CBBI goes to 90, 91, 92 and then back to 88? Will I sell on the way down? No. Corrections happen and this will happen likely at the top. One must have the mental fortitude to stick with a plan. That’s why having a good plan is the important part.

More on timing of altcoins for taking profits. Since, as we discussed, it’s about 3 weeks average for altcoins to peak after bitcoin, and it takes about 12 days to go from 90-100 on the CBBI, I will wait until CBBI reaches 100 (or the nearest peak to 100 and start my 2-4 week timer from that point for alt coins), selling leather market cap alts sooner and lower market cap alts later.

Notes on precious metals: Reason for Gold Vs Silver: Gold has a less expensive bullion premium than silver. For example, 4% vs 9%.

Another reason I’m using the UST stablecoin from Terra is because it offers high interest rates— much higher than a traditional bank account. I plan on earning passive income with as much of my cashed-out funds as possible. This is where stabletokens come into play.

Do not forget about taxes. I live in Puerto Rico where I get 0% on capital gains. But if you live in the United States or another country with capital gains then this is an important thing to factor in, based on your income bracket. It can be as high as 40% of your total earnings or as little as 20%, depending on whether it’s short-term or long-term gains and depending on your income level and what country you live on.

Why don't I cash out into stocks? Personally, I am not going to be doing this, but you can if you want to.

You can cash out into *any* assets that you think will hold purchasing power better than Bitcoin/crypto during a steep bear market drop following a blow-off-top.

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Disclaimer: This video is not financial or investment advice. Do not buy, sell or trade cryptocurrency, or make any financial decisions based on the content of this video. I am merely sharing what I have done and what I would do in various situations as an educational tool only.

#bitcoin #btc #crypto #cryptocurrency #news #cbbi #blockchain #price

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