When Should You Take Profits in crypto?

Feeling the rush of Bitcoin blasting through all-time highs—multiple times in a single day? You’re not alone. Crypto miners everywhere are riding the same roller coaster, gripping their seats and asking the one question that always pops up during bull runs:

When is the right time to take profits? How do I even do it without looking back with regret?

If you’re new to the space or even if you’ve been around a while but still struggle with making those tough calls, this blog post is all about cutting through the noise and sharing real-world experience. We’re diving into a conversation with Your Friend Andy, a miner and crypto enthusiast who’s weathered three full cycles, made seven figures in profit, and learned as much from mistakes as from wins.

Let’s jump in and work out a solid plan for taking profits in crypto—no matter what stage of the journey you’re on.

For more in-depth insights on this topic, check out this detailed video: When Should You Take Profits in Crypto?

Introduction: Bull Runs, Emotions, and Big Questions
Meet Andy: Veteran Crypto Miner and Investor
Bitcoin vs. Altcoins: Two Very Different Strategies
Setting Your Strategy: Why Planning Matters
The FOMO Trap: Emotion vs. Logic
When to Take Profits on Bitcoin
When to Take Profits on Altcoins
Designing Your Personal Take-Profit Plan
Timing the Market: Is There Really a Signal?
Practical Tips and Real-World Examples
Spotting the Top: Sentiment, Signals, and Stories
Sticking to the Plan: Avoiding Emotional Mistakes
Learning from Cycles: What Experience Teaches
DIY Crypto Coaching and Community Help
Final Thoughts—Don’t Be a Bag Holder!

Introduction: Bull Runs, Emotions, and Big Questions

Crypto doesn’t have boring days, but some days really stand out—like when Bitcoin smashes through all-time highs. If you’re sitting on a mining rig, watching your portfolio glow green, it’s hard not to feel your heart race a little.

But that excitement brings up tough calls:

Do I sell now or wait for more gains?
What if it all crashes tomorrow?
Should I separate my Bitcoin from my altcoins?

The truth: there’s never a perfect answer. But by learning the right approach, you can build a strategy that works for your goals (and your nerves).

“Every time we hit some big opportunities, I’m like, ‘oh, is it now?’ And then the other side of my brain is like, ‘no, no, no, no…’”

Meet Andy: Veteran Crypto Miner and Investor

Let’s set the stage Andy isn’t a moonboy influencer chasing daily pumps. He’s a miner and an investor who built his first rig in 2014 (Litecoin, old school!), has been “all in” since 2017, and has racked up seven figures in profits—learning a ton through the good times and the bear market heartbreaks.

Andy’s humble and straight-talking about his journey—he’s made every mistake in the book but has also developed a system that works for him. Bottom line: he’s been where you are and knows each decision can either make or break your crypto future.

Caption: Crypto cycles don’t repeat perfectly… but they sure have a familiar rhythm.

Bitcoin vs. Altcoins: Two Very Different Strategies

One thing Andy stresses right off the bat: Taking profits isn’t a one-size-fits-all game.

You have to separate your approach for Bitcoin and your “everything else” (altcoins).

Bitcoin: The Digital Gold

For Andy (and many seasoned holders), Bitcoin is a long-term play. It’s not just another volatile asset to flip in a bull run. This is a “10+ year minimum” hold—and maybe, even then, never really selling it:

“Bitcoin for me is not something I’m interested in taking profits on anytime soon. It’s a very long-term asset… Will I borrow against it? Will I ever sell? Will it be a million dollars plus? I don’t know.”

Altcoins: Hot Potato

Altcoins? Totally different animal. These are the “moonshots” that can pump hard in a bull market—but crash just as dramatically in a bear.

Here’s Andy’s take:

Altcoin cycles are brutal: In bear markets, altcoins often lose 70-90%+ of their value.
You must take profits on alts during bull runs: That huge green candle won’t last forever.

Altcoins during a bear market vs. a bull run: don’t get caught holding the bag!

Setting Your Strategy: Why Planning Matters

If you’re only thinking about your take-profit plan during a bull run, you’re risking emotional mistakes. Andy and The Hobbyist Miner stress that the best time to “plan” is during the bear market—when emotions aren’t running wild.

But, if you haven’t yet, don’t stress. The next best time to plan is today.

Why Plan Ahead?

Prevents panic selling during FOMO or fear.
Helps you actually lock in gains—not just paper profits.
Gives you clear targets for each coin you hold.

“Figure out your strategy more in a bear market or when you first get started… set your lines in the sand.”

Having a plan is like having a map—you’re way less likely to get lost or panic!

The FOMO Trap: Emotion vs. Logic

It’s real: when your portfolio spikes and Twitter is buzzing, it’s hard not to get swept up. But the FOMO (fear of missing out) works both ways—both in selling too early out of panic, and holding too long, thinking the party will never end.

Andy breaks it down:

“The biggest fear I have—and I know others do as well—is that next week, it could be half of where it is right now.”

The only real protection? A logical, written plan.

When to Take Profits on Bitcoin

Let’s take a deep breath here. Even when Bitcoin is at all-time highs, selling isn’t always the best move.

Andy’s camp (and many miners) tend to treat Bitcoin as “digital gold.” Selling some may make sense if you need funds for something major—a house, family goal, dream experience, etc.

Otherwise: holding long term often wins.

“If you want to buy a house for your family… don’t let others pressure you into holding forever. There’s no wrong answers. Take profits in a smart way for your needs.”

Bottom Line for Bitcoin:

Only sell if you really need it (for a real-life goal).
Otherwise, think decades—not months or years.

Bitcoin cycles can be wild, but history shows long-term holders are usually rewarded.

When to Take Profits on Altcoins

This is where things get interesting—and potentially very profitable (or painful, if you’re careless).

Current Cycle: Is Altseason Even Here?

Right now, as of this writing:

Bitcoin dominance is sky-high (about 64%)
Many favorite altcoins are still down 70-90% from their peaks
“Altseason”—where money cycles into altcoins and they pump even harder than BTC—hasn’t really started yet

Andy’s take:

“Is now the time to sell and take profits on altcoins? Absolutely not. Bitcoin is dominating. We are in a Bitcoin bull run, but not full euphoric altseason. That comes much later.”

When Should You Take Profits on Alts?

During a full-on altseason, when everyone’s talking about finding “the next Bitcoin,” that’s when you want to have your exit plan ready.
Plan today, execute when things get crazy.

“Altseason” sentiment indicator: when everyone you know wants to buy the next 100x coin!

Designing Your Personal Take-Profit Plan

There isn’t one way to skin this cat, and Andy’s super open about this. Here are the big strategies he and other miners use:

1. Separate By Position

For each crypto you hold, decide in advance what your selling points are.

2. Partial Liquidations

Never sell your whole bag at once.
Pick profit targets (like 2x, 5x, 10x your buy-in).
At each level, sell a percentage (for example, 25%, then another 25%, etc.)

3. Always Leave a “Moon Bag”

Hold a small amount “just in case” it goes absolutely wild.
Accept that some bags may go to zero (and that’s okay).

Andy’s Checklist

Look at each position you hold.
Decide on a price or % gain where you’ll take some profit.
Write it down! Don’t wing it.

“Never liquidate everything. Always hold on to a little bit of each—just in case it moon bags. Now, that moon bag can go to zero. That happens, absolutely. It’s part of the game.”

Keeping track of 60 cryptos? Spreadsheets and notes are your friend—don’t trust your memory!

Timing the Market: Is There Really a Signal?

This is the million-dollar question (literally): How do you know you’re at a local or cycle top?

Unfortunately, there’s no magic flag. No buzzer or notification saying “SELL NOW.”

Andy shares:

Sometimes, you sell early and the coin moons hard after. You regret missing out.
Other times, you sell and it’s all downhill from there—you’re glad you sold.

“Profit is profit. Pat yourself on the back… The alternative is holding it to zero, which is not preferable.”

Painful truth: there’s never a sign that labels the “top.” You only know in hindsight.

Practical Tips and Real-World Examples

Let’s break down some everyday strategies you can use:

The 50/50 Strategy

When your coin reaches a big milestone (like 2x or 3x your entry), sell half.
Let the other half ride.
If it pumps more, you can keep slicing out profits at each new high.

Spreading Exits With Pre-Set Targets

Use a spreadsheet to map out:
- Buy-in price
- Major price targets (2x, 5x, 10x, etc.)
- Amount to sell at each target (e.g., 20%)
- How much to leave for the “moon bag”

“You can break down, put it on a spreadsheet, look at market caps, compare to other cryptos, and say ‘it could be like this one was in the past.’ Map it out: sell x% at 5x, x% at 10x, and so on.”

Don’t Worry About Perfection

Nobody nails the top. The key is to do something—and not freeze up.

Celebrate your profits, even if you sold before a huge move.
Don’t mourn missing the very, very top—you’re still way ahead of bag holders.

Selling 50% and letting the rest ride? It’s one of the simplest—and most effective—methods.

Spotting the Top: Sentiment, Signals, and Stories

While there’s no magic alert, there are signals that experienced miners watch for.

Andy’s “Top Signals” List

Celebrities start shilling (again)
Major news networks teaching newbies how to buy coins
Every Uber driver or barber talking about crypto
Coinbase or Binance becomes the #1 app on app stores
NFTs go mainstream (again)
Political or regulatory moments (“Bitcoin reserve” chatter, etc.)
Friends and family who never cared about crypto before start asking about it

Caption: “Top” signals are about general euphoria and mainstream buzz. When everyone’s a genius, be careful!

This is a checklist, not a rulebook! The more signals you check, the closer you probably are to a local or cycle top. If you’re ticking off a bunch, consider selling at least some of your position.

“If a fair amount of these I’m putting check marks next to—consider taking some profits, even if you haven’t hit all your levels yet. Better safe than sorry.”

Sticking to the Plan: Avoiding Emotional Mistakes

Building a plan is half the battle. Sticking to it—especially when Twitter is hyped and every candle is mooning—can be even harder.

Key Points

Don’t get emotionally attached to any coin, project, or chain.
Plans help strip out FOMO and regret.
Trust your process and your own research.

“Try not to be emotionally attached to these decisions. If you plan ahead, you’re just following your guide versus getting swept away by emotions.”

“I’m hearing everyone is selling, do I need to do it now?” Make this decision before the crowd panics.

Learning from Cycles: What Experience Teaches

If this is your first real crypto cycle, you’re going to feel the chaos. That’s normal! Every cycle, seasoned miners learn a little more:

You’ll get better at spotting “top” signals
You’ll get better at executing your plan without second guessing
You’ll miss a few tops and bottoms, but so does everyone

Experience can’t be faked. Each cycle, you’ll build confidence and tweak your system.

“Experience is worth something. The more times you see a thing happen, the better you get a feel for it, and the more you can put emotions in the back seat.”

Each bear and bull market makes you sharper—notes and takeaways help you grow over time.

DIY Crypto Coaching and Community Help

Everyone needs help sometimes—whether it’s picking hardware, setting up a new miner, or just needing another brain to bounce ideas off of.

If you’re stuck:

Seek out one-on-one coaching.
- The Hobbyist Miner offers direct calls for everything from installing HiveOS to ASIC setup.
- Community is everything—don’t be shy to ask for help.
Use resources. Check out channels, forums, and guides for practical tips.
- Join The Hobbyist Miner Discord community and ask away!

“If you’re new to mining or want to get your first build going, don’t be afraid to reach out. I’ve helped people all over the world with different setups.” – The Hobbyist Miner

Sometimes a quick one-on-one call can save you hours—or thousands of dollars in mistakes.

Final Thoughts—Don’t Be a Bag Holder!

Crypto doesn’t reward those who never make a plan or always let emotions drive them. Only a small percentage of people execute their profit-taking strategy with discipline—the rest become permanent bag holders, watching their gains evaporate after each bull run.

In Summary

Build your plan now—even during the bull run is better than not at all.
Separate your approach for Bitcoin (long-term, “digital gold”) and altcoins (take profits in waves).
Set your price or market cap targets in advance; write them down!
Don’t sell everything—always keep a moon bag just in case.
Watch the market sentiment and “top signals,” not just charts.
Taking profits is personal. There’s no single “right” answer; it’s about what works for you.
Don’t let FOMO or fear steal your sleep—or your hard-won gains.

“Don’t end up getting stuck with that bag. Don’t get emotionally attached. Be smart. Have a plan. Set some indicators, set some flags and be prepared to take profits—because that’s what we’re all here for.” – The Hobbyist Miner

Final word: The best time to plan was yesterday. The next best time is right now.

Resources

Whether you’re swimming in green candles, just started mining, or wondering if you’ll ever see a decent pull, don’t stress alone. Plan, execute, and learn—this is a game best played with your head (and a little help from those who’ve survived more than one ride!).

Caption: Ready to execute your plan? Your future self will thank you.

Still have questions? Tag me on Twitter: – https://x.com/HobbyistMiner, even better, book a one-on-one session and let’s build your profit-taking routine together. See you on the blockchain!

Check back weekly for fresh new content, for the everyday miner! For more in-depth insights on this topic, enjoy the video below!

When Should You Take Profits in crypto?

Table of Contents

Introduction: Bull Runs, Emotions, and Big Questions

Meet Andy: Veteran Crypto Miner and Investor