Unf*ck Your Crypto Portfolio With This Framework

You're following all the big names in crypto where all the financial products, you're watching all the YouTube videos, you're listening to all the podcasts.

You'Re getting home from work and you're making sure you're not missing anything on Twitter or Cointelegraph. Making sure you don't miss that next 100x. Your portfolio is not performing the way you would have hoped. We're going into a bull market and you're feeling stressed, anxious and overwhelmed that you're not going to nail this cycle. You're worried that you're going to run it all the way up and all the way down again like you probably already have, and waste another four years at this bull market. I know how you feel because I've been there. But now, after seven years of being in crypto and working with a team of analysts. In this video, I'm going to share our seven steps on how to unfuck your crypto portfolio.

Before you do anything, the number one thing you should do is have a plan. I went through my first crypto cycle back in 2017, 2018. I did not have a plan. I wrote all my altcoins up and all the way down, probably like most of you in your first cycle and I updated this in my second cycle. I sat down with our team and we come up with a strategy and investing plan for that bull market that allowed me to do a 30, 40, 50 times my portfolio. That took me to an over a one million dollar crypto portfolio in that cycle due to this plan. But if you look at all the youtubers online, no one will be telling you about this plan or this sell strategy. It's all about buy, buy, buy, buy, buy. Because they are not making money on you selling your crypto. But that is how you make profits in crypto. Believe it or not, you actually have to sell. And I know for so not sold enough, we had not sold any. And in this bull market it is paramount that you get out near the top to make profits and really take advantage of this financial revolution of this bull market. That all comes down to having a plan, which I'm going to help you in this video. Number two is to reassess the cryptocurrencies in your portfolio. You're probably holding onto those 10 or 15 coins that you don't really have a lot of capital in. Maybe they're down 40 or 50%. You're not even really sure what they do. So there's a few things you can think about when looking at These coins to understand whether you should hold or whether you things are. Are they still building? Do they have the roadmap that you think they can achieve what they've set out to achieve and are they achieving that roadmap? Look into the token economics of that project. Is it actually accruing the value and the utility it should to get back up to all time highs or even break through your break even price? There's so many of the coins out there. The token economics are completely crap. You need to look at this because that's going to be the best way the project is going to come back. Is the project going through token upgrades? Polygon, for example, has gone through a major 2.0 upgrade, but there's a lot of other tokens that are not doing that and still rely on poor token economics to get them back. I firmly believe that a lot of these projects will not come back unless they go through token upgrades. Do they have any upcoming catalysts or things that are really going to spur a new interest For a lot of these old tokens? They are completely dead in the water because they have new competitors that have better marketing, better narratives and better audience and retention to really get engagement of that token. Remember, for coins to come up, they need a narrative, they need interest. If they are dead in the water and have not done anything about their marketing, they're probably not coming back either. And last one, are they solving a real world need? There's a lot of tokens out there that do not solve any real world needs. There's just a token. For the sake of having a token. Look at the project and understand is it actually solving a problem that needs to be solved and if it's not, you may want to sell. So really the underlying question you need to ask yourself about any of the coins in your portfolio is why do I hold this? And is there something better that I think is going to give me more returns? Because the reality is in this bull market, most of the coins are probably going to go up, but some are going to go up in multiples higher than others because of how good their token economics are, how good the problem is they're solving, how good their team is, etc. So you need to make sure you're backing the right horse in the race to get the returns that you want. Because as we go into this next bull market and beyond that into the next bear market, you do not want to be holding altcoins. Altcoins in bear markets underperform by 90 to 95% against BTC and ETH. So you really want to get in and get out of altcoins in this cycle. And that's why having a plan and having the right coins. The first two things on our seven steps to unfuck your portfolio. Number three is to consolidate your altcoins. If you 20 coins, 30 coins. Heck, I've spoken to people with 80 coins in their cryptocurrency portfolio. It is way too many to stay on top of in a bull market. I went through this in my first cycle when I had 30 or 40 different altcoins and trying to stay on top of all of them in a bull market is so impossible to do. And the reason why I've consolidated my altcoins now to only holding two altcoins is because I can stay on top of these two and know exactly their roadmap and know exactly when the right time to sell is. Now, two might be too few for some of you. I've gone from 20 or 30 right down to 5 now to 2 I've consolidated now that might be 10, it might be 20 for you. It's a number that you can comfortably stay on top of and know what's going on with the project and when the right time to sell is. Because when you're looking at your portfolio and looking at when the right time to sell is, it's important to look at it at an individual altcoin basis, not at a portfolio value. So if you're waiting for your portfolio to get to 200,000, 500,000 or 1 million and then selling, that's the wrong way to look at it because Bitcoin is going to outperform one day, then Ethereum, then one of your altcoins. Heck, some of your altcoins may underperform and you're not going to know because you're looking at your total portfolio size rather than the individual altcoins. So by consolidating, you get a better viewpoint of these altcoins and you can get a plan for each individual one. So when the defi run up goes or the metaverse goes or AI goes, they're going to be at different times and you can sell and take profits in those individual narratives when they go rather than just waiting and looking at total portfolio value size. I see so many people making this mistake. Number four is speaking to your tax accountant about potential loss harvesting. What is loss harvesting? Well, this is when you can actually minimize your tax by selling some of your coins that are underperforming. For some of you here in Australia, you can actually lock in a capital loss event by selling some of your tokens that are below zero that you've lost money against and offset that against future gains. It's a really good way to think about consolidating some of those underperforming coins where you have lost, because you're probably emotionally attached to those coins. I've been there when you don't want to sell it because you've lost so much money in that token. But the reality is you can actually offset that, move that capital into a new token, ride that up, and then actually use those losses and reduce your capital gains on that new token that you're now profitable with. So it's not all lost. We need to forget about that sunk cost fallacy, especially when it comes to tax, because here in Australia we pay a lot of tax. It's super important to understand that. But that's another way you can fix your portfolio through consolidating some of those altcoins with a good tax strategy. Number five is to stop trading. I've spoken to a lot of clients who come on board with Collective Shift who are trading cryptocurrency and not making the money and they're digging into their long term portfolio. The biggest problem with trading is that you're coming up against massive whales, AI algorithms and traders with much more money than you that have been in the space for a long, long time. 90% of people who trade cryptocurrency actually lose. So by reducing that time, you're looking at trading and you're most likely doing trading because you're trying to make money faster. Fastest way to lose money is trying to make money faster. I've seen this firsthand as I've spoken about. I've also seen a lot of our clients who have stopped their trading, move their capital into investing into good assets and holding for a longer period of time and making multiples on what they would have with their trading and actually feeling healthier and better about themselves because they're not so focused on their trading. If you do want to trade, I recommend splitting out your short term trading account with your long term holding account. And that way you can both trade on a shorter term timeframe with that capital. You're for trading, but keeping that separate to your long term holding. The problem I see with people when they're screwing up their portfolio is they bring it all together and now they're trading with their long term portfolio as well. So they're digging into their long term bitcoin holdings. They're getting capital gains events. It's an absolute mess. So this is a great way again to unfuck your portfolio through splitting that up or just stopping trading altogether. Number six is fomo. Fear of missing out. We've all been there. I've been there, and I got caught in the trap early on in. Back in 2017-2018, in the ICO days, you'd log on to YouTube, crypto, crypto, YouTube. You'd follow your favorite influencer and everyone would be pumping their latest ICO token. It was all going to the moon. I put so much Ethereum into some of these ICOs, it's absolutely bananas. And looking back at Ethereum at $80 or $100 pumping into these ICO tokens, really we're not doing my due diligence. Thinking that we're just all going to be rich is the wrong way to think about it. And I got caught up into fomo and the reality of that is that I don't know many ICO tokens at all that have lasted the distance. But one thing's for sure, that $80 Ethereum would be worth a lot more now if I was to hold on to that. So FOMO is really important in crypto because looking at these influences, that's how they drive their revenue, through clicks, through attention, their videos, the big titles, the big thumbnails. They need your attention, so they can monetize that through advertising. And to do that, they get fear. They induce you with emotion. That's how they get more clicks. But that's not a good way to invest. Investing logically over emotionally is a far better way to make money. So check yourself when you're feeling that fomo, when we're running up in this bull market and there's those tokens that are running. Solana's running, you know, Polygon's running, Ethereum's running. And you don't have those tokens. Don't fall in the trap of that fomo. Be patient. The pump will come to you. As long as you've done the work and you have that plan. Sit in those tokens. Don't go chasing, because that's another thing I see, people go chasing. They sell that token because bitcoins running. So they sell their Ethereum into Bitcoin because Bitcoin's running. Then Bitcoin stops pumping and then Ethereum goes. But now your assets are in Bitcoin, not Ethereum. So then you go back and you're just missing all the gains to stay patient. Don't get caught up in the FOMO and the emotion. Stay logical and stick to the plan number seven. And the most important part of how to unfuck your portfolio is to take profits. It's the most important one, but it's the most least done out of any of our clients I speak with and any about the community I see online. Taking profits is extremely hard. Why is that? We're in the heat of the moment. When you're refreshing your Ledger app, you're refreshing the Binance app, and you're seeing how much money you're making and how much money people online are making in that moment. It is extremely hard to sell because of the unmatched gains that you could have in the future. You're thinking, I hope, I wish. What if These are all signs that you should start selling and taking profits. If you're starting to look at Rolexes and looking at the new property you're going to buy, or the new boat you're looking at, or you're jumping in an Uber and now he's asking you about what altcoin to buy, this is the time to start taking profits and it comes back to that plan. Having a sell strategy is one of the most important things that I can recommend you doing. The reason being is that sales strategy helped me make over a $1 million crypto portfolio in the last cycle by knowing when to sell. I was early investing into the Metaverse projects before the Metaverse was even a thing, and was able to sell out near the top because of that sell strategy. And I can tell you, right, selling hundreds of thousands of dollars of tokens near the top when you think it's just going to keep on running out is extremely hard to do. By having that sell strategy, you're logical, you're not emotional about it, and once you have that money in the bank account, I guarantee you're going to feel a lot better about that when the market eventually corrects. So a good way to take profits is to take chips off the table as we're running up. If you have a token that's done 3x5x10x, there's a much easier way than just getting all out or all in. Trying to sell all of your holdings of an asset at a particular time is extremely difficult and it's not really a good idea because the asset might continue running. I like to take dollar cost averaging out strategies and take chips off the table as we go up. Taking chips off the table allows me to play a foot in both camps. I'm putting money aside and taking profits. But as the market continues to go up, I still have a foot in the game. Create that plan. Make sure you're taking profits. Make sure you're not over trading and sticking to the fundamentals, and stay patient. This is how I have won in the game. Don't get caught up in the fomo. Stick to the plan and stay logical. And that's how you're going to win in this bull market. Do you have any other tips or strategies that I haven't mentioned? I leave them in the comments below. I hope you've been enjoying these videos here on YouTube. I'd love for you to check out the other stuff we're doing and let's all make money together this bull market. Thanks for watching.