At the moment we are in a Bull market for crypto. It actually just means the that prices (in Fiat currencies like the US $) are generally rising. Bitcoin’s market cap (value of the number of coins times the current price) is more than 50% of the entire crypto market and so the market generally follows its lead.

There are fortunes to be made by trading within crypto, getting into coins just before they pump. Obviously choosing a coin is an inexact science, but it is exciting when you catch the wave.

The Bull market will eventually end and there are numerous people explaining what they think will be the timing, as you can expect huge reductions in value, especially with low cap alt coins. So the widely acknowledged strategy is to sell some of the coins as they go up “locking in” profits. This works well enough and you can then re-invest the profits in the next potentially good high flyer.

My problem is the same, however much profit I make. Assuming that there will be a Bear market sometime this year, I need to know how to keep my profits safe.

Keeping you money safe is the same problem whether or not you are a crypto enthusiast. The explosion in supply of fiat is very likely to result in inflation in the long run, so getting out of crypto is like getting out of the flying pan into the fire.

So it looks in the end that hodling in crypto (some at least) is going to be a long term strategy. I’m waiting for more people to accept bitcoin for big purchases, like houses or cars.

Exciting financial changes are here but not everyone realises it yet.