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If Ripple tells the truth, then the bull market is here - What to do? by unbiasedwriter

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· @unbiasedwriter ·
$7.12
If Ripple tells the truth, then the bull market is here - What to do?
I am not a big fan of Ripple, but I also see the brilliance of the currency. In a way, it is quite similar to Steem/Hive, given that it is superfast, and very cheap to use. And often, Ripple is giving people a feeling about the state of the crypto-world. If Ripple goes booming, then it is a good sign that there is a bullmarket about to break out.

And yes, in the last couple of days, Ripple has doubled in value. It is still very far away from all time highs, and it is still down a lot towards Bitcoin... however, if you bought at 0,25 USD, you are in a nice plus seeing that it has even touched 0,7USD recently.

![crypto 2020.jpg](https://files.steempeak.com/file/steempeak/unbiasedwriter/U2LE6Fzj-crypto202020.jpg)

But, I don't care so much about Ripple at the moment. I'd rather just make some thoughts now, that might be useful considering that the bullmarket seems to come as an early Christmas present this year.

## Some pieces of advice if this turns out to be a bullmarket!

1. **Make sure to have some liquid Steem/Hive ready!** I know many people here are involved in Steem/Hive, and that they do not really own other cryptos. If that is so, I recommend that you keep some tokens liquid, meaning that you can move them around at any time and sell time at any time. Do not forget, if you try to power down on Steem and/or Hive, then you will have to wait 1 entire week before you get a part of what you want to power down. And believe me, one week can be a lot in a bull market. You might be lucky with such a delay, but you might also be very unlucky. So in case you are considering selling tokens, be prepared. But, do not forget, Steem and Hive are still way down in Dollar value compared to a few months ago, meaning that most people who have actually bought tokens are in a big minus. Make a plan right now, think about it, and stick to it!
2. **Don't think that you can catch the top.** If you own some Ethereum, it might be tempting to think that you will be able to catch the top. You might, if you are extremely lucky, but there is a constant battle telling you not to sell, because it might get higher. And then if the value falls, you feel terrible, thinking that you might have lost the top. If you set a stop-loss, then it might be activated during a flash crash, only for the value of Ethereum to go way higher afterward. In other words, it is very hard to actually catch the top. That is why I would much rather use either a "soft" stop-loss, meaning that I would place it at 540 USD now for Ethereum and move it higher as the price goes up, or I would keep my sell positions that I had planned for originally and sell continously and step-by-step as the price go up.
3. **This is a dangerous drug - be careful.** The success feeling you get when your portfolio has increased with 20% or maybe 100% in a couple of days is incredible. It can make you feel like the king of the world, and that it will never stop. But, believe me... it will! So, get of the drug! You should, of course, enjoy the ride, but still - be wise, make rational decisions, and make sure that you will not regret heavily your actions or your lack of actions today in some months from now!

Do you have any thoughts on the crypto market as of November 2020? Are you holding lots of tokens, or are you all in on Steem and/or Hive? I would love to hear your thoughts! :)

👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 83 others
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vote details (147)
@chesatochi ·
Always good to have some liquidity with an opportunity in front of you.
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@josevas217 · (edited)
Hello @unbiasedwriter
I very much agree with the approach you bring, you always have to be prepared, especially in these moments of high volatility. I just have some NRT, XRP, HIVE and STEEM, waiting to see if at some point they take a big leap, I think it would be amazing he he
But as you say, do not get carried away by the drug of emotion, we well know that these moments can be ephemeral in the cryptogra market

If history is cyclical and we learn from it, the following image is of XRP's historic peak in 2018, a few weeks after the BTC reached its peak...will history repeat itself?

![image.png](https://images.hive.blog/DQmWUihyddofANDx259pcxxsFbZZcufq9XwRW6uxUdNu632/image.png)
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@niallon11 ·
I have  a couple thousand ripple. Don't care about the coin in the slightest but it hit $4 before and was on sale at 20c. Even selling now is a nice profit even if i don't hold all the way up.

I've spend the past couple of years picking up bits and pieces of tokens when they were going cheap and xrp is a good one to have.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@niallon11/re-unbiasedwriter-6czunf)
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@unbiasedwriter ·
I agree with you there... Ripple is like a safe haven, at least when you buy it cheap. And it for sure has a potential considering that it has lots of fans worldwide who love to pump the coin!
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