Gold and silver are hitting all-time highs and smashing them almost immediately. This was what we thought crypto (BTC, eth and alts) will be like, unfortunately it hasn't turned out that way.
This massive pump has created a FOMO across the crypto assets world, so much that folks are now choosing to buy tokenized versions of these assets. Gold and silver are emergency assets and shouldn't even be at the prices, but it looked like by all miles they've outperformed every crypto asset, and causing massive regret and FUD around the alt market.
Personally I haven't considered precious metals as asset choices, because I'm not a fan of them. It's the same for many people who aren't collecting them, but shout-out to those who have been collecting them over the years, it's finally time to take profit. Why?
I think the precious metal market is still going to dump, this is the euphoric phase, and anyone with a sizable stash should be taking profit at the moment.
However, if you're accumulating for the love of it, or hoping to to pass it on as an inheritance, then you're probably happy at this point.
However, I still think anyone with a sizable stash should be selling at least 40% of their portfolio and taking profit. You'll probably never get the opportunity to take profit or get such pumps like this futuristically.
Take profit aggressively
For folks who didn't take crypto profit in 2021, we're currently in the trenches and don't know what it feels to have pumps smashing ATH every two days.
This is the moment where profit taking is made, except perhaps you don't have enough and your stash won't do much anyway.
However, take profit. I'm a profit taker advocated, and somehow I've learned this only 6 months ago. I must've been looning all my life, but no better advocate for profit taking than someone who the market has dealt a very terrible blow.
Don't be carried away
Also, if you're out there hoping to rotate some of your money into precious metals because you have been failed by crypto in the past few months, then you need to be very cautious.
The reason why I am preaching caution is because the precious market metal is topping, in as much as it doesn't function like crypto, it still wouldn't pump or continue pumping like this till the end of time.
There's probably no more money to be made if you are buying at this price, rather I will suggest you wait for the market to dump if you are choosing to go into the precious metal market.
Silver per OZ might flip the price of Solana very soon, but even at that, I still don't think you should buy it at this point. Wait for the coming dump, even though it might take long.
Awesome for those who are only depending on crypto, I think our time will come, so it is important to keep our cumulating and soon we will feast