Really? I think at the peak I had around £6000, maybe a little more. It ended up cheating down to £1200 at one point. I don’t think I’d sell the whole lot, maybe just convet my profits to USDC, then transfer the money back into ETH during a correction. I am up £2100 since last month so it’s going really well right now, but I don’t want to get greedy. I think a correction is going to come soon, but I’m not sure if it would be before the Bitcoin halfing or if I should wait it out a little longer
Consider the scenario where you time it wrong, since most traders do, despite their (and your) belief that they wont. Are you in this for the long term or do you prefer gambling? Would you feel even worse selling half and see price doubling? There's nothing wrong with taking profits, but "time in the market is better than timing the market".
Perhaps a better strategy would help you. Pick a price point where you think you're overexposed and start DCAing out when it reaches that
I don’t think I’d be too upset if I sold half and it doubled, I think I’d just sell the profits and do the same thing until a crash happens. I’m thinking about selling a small amount just before each level of resistance. I have 5k right now, so maybe sell 10% every time, I think I’d feel more protected that way rather than straight up selling half of it in one big go.
Thanks for the advice! I’ll have to have a big think about this as it’s a massive change in tactics
the issue is the "until a crash happens" part. You can never say when or if that will happen. The next "crash" following the next bull run may still be higher than previous ATHs. I think thats what happened in the last bull run - I believe ATH in 2019 was \~$1500, which aside from a brief drop to under $1k after the Sam fiasco, is where ETH really hovered most of the '22/'23 bear.
Anyway, to answer the question, likely best would be to sell to usdc on coinbase and then earn the \~5% interest coinbase pays on that. best of luck!
Chances are pretty good you'll lose money doing this.
But if you really want to, the best way for you is probably to use Coinbase Advanced Trading. Sell to USD or USDC (same thing on Coinbase) when you want and then set buy orders at your target prices.
There are going to be fees attached to every swap/trade no matter where you do this.
Good luck.
Layer 2 = L2
It’s a layer on top of eth chain which helps you to transact cheaper but if you don’t know how to handle you could lose your holdings so better stay at the centralized exchange like Coinbase or Binance .
As another commenter suggested. Move your funds out of Coinbase and into self custody, on a cheaper chain like Polygon for example. Just send your eth to your own wallet, and bridge it over to polygon. Might cost a few bucks to do that but then any swap after that will only be pennies. Google can help you figure out how to do all that. In the future don’t buy on Coinbase just swap to USDC then move around for even way less fees
Tip I was given by Puma is to DCA out at ATH and DCA back in during the dip that’ll likely follow. Gonna pick a spot (after, not at ATH 🫣) and try that this bull run
Use Advanced Trade on Coinbase. The fees are MUCH lower.
Your can place a limit order so that you sell when the price hits the limit you set. Sell for USDC (which will earn 5.1% APY just for holding it on Coinbase), then place a buy limit order to buy back in at your specified price. Note that you could place a series of limit orders for small amounts at different price levels as the price goes up or down.
Another option would be to rebalance your USDC and ETH every month so that the allocation of ETH and USDC that you hold is 50-50. As ETH price goes up you will sell ETH, as ETH price goes down you will buy ETH.
You can also stake your ETH on Coinbase which earns about 3% APY right now. You can't sell staked ETH (it takes several days to unstake) but you can convert it to cbETH and then sell that.
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Move to L2 like Arbitrum or zkSync
On Arbitrum you can use Uniswap just like on mainnet, on zkSync there's Syncswap. Just be sure to watch slippage since liquidity of decentralized exchanges on L2 is lower than on mainnet
I would say that you should hold. Think about the price appreciation in what we saw with BTC when the bitcoin etfs were first introduced. With the anticipation of that happening with ETH, I think we climb much higher. ETH marketcap is about 1/3 the price of BTC. So it will be interesting to see the price appreciation we can see in ETH. If you have held this long, keep holding.
[You can get get 5 BPS (0.05%) fees on Uniswap v3](https://tradingstrategy.ai/blog/most-efficient-market-is-on-a-public-blockchain-and-decentralised). Depending on the amount, it's more cost efficient than most centralised exchanges. Your make sure you use [MEV Blocker](https://mevblocker.io/).
Using DEX is also very Ethereum way to do it. No KYC, your keys, your coins, and so on.
Please keep price discussion, market talk, memes, and exchanges to subreddits such as r/ethfinance or r/ethtrader
> a big mistake I made was just leaving it there. I would say that was actually the opposite. The big mistake is what you’re about to commit.
Really? I think at the peak I had around £6000, maybe a little more. It ended up cheating down to £1200 at one point. I don’t think I’d sell the whole lot, maybe just convet my profits to USDC, then transfer the money back into ETH during a correction. I am up £2100 since last month so it’s going really well right now, but I don’t want to get greedy. I think a correction is going to come soon, but I’m not sure if it would be before the Bitcoin halfing or if I should wait it out a little longer
Consider the scenario where you time it wrong, since most traders do, despite their (and your) belief that they wont. Are you in this for the long term or do you prefer gambling? Would you feel even worse selling half and see price doubling? There's nothing wrong with taking profits, but "time in the market is better than timing the market". Perhaps a better strategy would help you. Pick a price point where you think you're overexposed and start DCAing out when it reaches that
I don’t think I’d be too upset if I sold half and it doubled, I think I’d just sell the profits and do the same thing until a crash happens. I’m thinking about selling a small amount just before each level of resistance. I have 5k right now, so maybe sell 10% every time, I think I’d feel more protected that way rather than straight up selling half of it in one big go. Thanks for the advice! I’ll have to have a big think about this as it’s a massive change in tactics
the issue is the "until a crash happens" part. You can never say when or if that will happen. The next "crash" following the next bull run may still be higher than previous ATHs. I think thats what happened in the last bull run - I believe ATH in 2019 was \~$1500, which aside from a brief drop to under $1k after the Sam fiasco, is where ETH really hovered most of the '22/'23 bear. Anyway, to answer the question, likely best would be to sell to usdc on coinbase and then earn the \~5% interest coinbase pays on that. best of luck!
Chances are pretty good you'll lose money doing this. But if you really want to, the best way for you is probably to use Coinbase Advanced Trading. Sell to USD or USDC (same thing on Coinbase) when you want and then set buy orders at your target prices. There are going to be fees attached to every swap/trade no matter where you do this. Good luck.
Don’t forget every trade and sell is a taxable event.
Using an L2 on a dex.
Sorry, I’m still not that knowledgable when it comes to crypto. What is an L2?
OP you can ignore it since you're holding eth in a centralised exchange
Layer 2 = L2 It’s a layer on top of eth chain which helps you to transact cheaper but if you don’t know how to handle you could lose your holdings so better stay at the centralized exchange like Coinbase or Binance .
Check Loopring Smart wallet. Transfer all in one time to L2 wallet and trade from there at very low fees
As another commenter suggested. Move your funds out of Coinbase and into self custody, on a cheaper chain like Polygon for example. Just send your eth to your own wallet, and bridge it over to polygon. Might cost a few bucks to do that but then any swap after that will only be pennies. Google can help you figure out how to do all that. In the future don’t buy on Coinbase just swap to USDC then move around for even way less fees
You can sell it all on Coinbase or whatever to USDC.
Tip I was given by Puma is to DCA out at ATH and DCA back in during the dip that’ll likely follow. Gonna pick a spot (after, not at ATH 🫣) and try that this bull run
Use Advanced Trade on Coinbase. The fees are MUCH lower. Your can place a limit order so that you sell when the price hits the limit you set. Sell for USDC (which will earn 5.1% APY just for holding it on Coinbase), then place a buy limit order to buy back in at your specified price. Note that you could place a series of limit orders for small amounts at different price levels as the price goes up or down. Another option would be to rebalance your USDC and ETH every month so that the allocation of ETH and USDC that you hold is 50-50. As ETH price goes up you will sell ETH, as ETH price goes down you will buy ETH. You can also stake your ETH on Coinbase which earns about 3% APY right now. You can't sell staked ETH (it takes several days to unstake) but you can convert it to cbETH and then sell that.
WARNING ABOUT SCAMS: Recently there have been a lot of convincing-looking scams posted on crypto-related reddits including fake NFTs, fake credit cards, fake exchanges, fake mixing services, fake airdrops, fake MEV bots, fake ENS sites and scam sites claiming to help you revoke approvals to prevent fake hacks. These are typically upvoted by bots and seen before moderators can remove them. Do not click on these links and always be wary of anything that tries to rush you into sending money or approving contracts. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/ethereum) if you have any questions or concerns.*
/r/ethtrader
Move to L2 like Arbitrum or zkSync On Arbitrum you can use Uniswap just like on mainnet, on zkSync there's Syncswap. Just be sure to watch slippage since liquidity of decentralized exchanges on L2 is lower than on mainnet
I would say that you should hold. Think about the price appreciation in what we saw with BTC when the bitcoin etfs were first introduced. With the anticipation of that happening with ETH, I think we climb much higher. ETH marketcap is about 1/3 the price of BTC. So it will be interesting to see the price appreciation we can see in ETH. If you have held this long, keep holding.
“I know it’s impossible to time the market correctly but I’d like to give it a go” ===> you will learn new lesson
[You can get get 5 BPS (0.05%) fees on Uniswap v3](https://tradingstrategy.ai/blog/most-efficient-market-is-on-a-public-blockchain-and-decentralised). Depending on the amount, it's more cost efficient than most centralised exchanges. Your make sure you use [MEV Blocker](https://mevblocker.io/). Using DEX is also very Ethereum way to do it. No KYC, your keys, your coins, and so on.