Looking to protect the millions you’ve made from crypto during the Bitcoin-Ether ETF mania before this bull run comes crashing to an end? Here are a few ideas.
Cryptocurrency’s leading act has been knocked off the top spot. The much-hyped launch of exchange-traded funds (ETFs) for Ethereum in the United States has sent Ether (ETH) soaring more than 20% since May 20. Bitcoin’s (BTC) performance looks lackluster by comparison. Opportunities to bet on crypto’s kingpin still abound — but not all are worth taking.
If you’re an inveterate Bitcoin maxi, stop here. You already know the U.S. dollar is on the brink of collapse, and $200,000 BTC is right around the corner. For everyone else, here are three practical tips for protecting your crypto profits after this bull run loses steam.
The greenlight for Ether ETFs is bullish for crypto as a whole, but not necessarily for BTC — especially not in the short-term. With Ethereum dominating the market’s narrative in the coming months, expect BTC to retest prior price support levels.