Hello! I’m pretty new to crypto, I’ve been listening to the talk about bitcoin pumping currently and that it will probably dump. So, I’m assuming that traders will take some of the wealth out once it starts to dump…my question is, if you are dumping some, or taking some of the wealth out, what would you put it into? I just recently moved my funds from exchange to wallet. Within the wallet there is no fiat, so…where do experienced traders put their funds when they pull some out of bitcoin or ethereum? Thanks! I hope that makes sense. I am planning on taking Ivan’s trading course this Thursday but thought I would ask anyway.
I am not an expert, but what I can say is that it really depends on your on strategy. A lot of people have the goal to accumulate more bitcoin. Theoretically you sell before it dumps and buy back in at a lower price. However, timing the market is extremely difficult.
Others go with cryptocurrency/BTC cycles and try to switch between BTC and other Altcoins in order to obtain the highest gains. This again isn’t really easy in practice and involves higher risk.
If you are talking about taking out the money completely from crypto then there are obviously a lot of different options and alternative investments (real estate, stocks, etc.)
I’d say with the right risk management everything is better than just staying in fiat