From financemagnates
Believe it or not, 2024 is almost over. In a few weeks, Halloween will be upon us and the year will be rolling to an end. Besides the holidays, it is also a time for crypto investors to take deliberate action regarding their portfolios. This not only means that they can finish 2024 strong but also start off 2025 on a high note.
No matter how far along you are in your crypto investment journey, it is worth taking the following steps in Q4 to get the best results in both 2024 and beyond;
Naturally, one of the most important things you’ll want to do is track how your portfolio performed in 2024. This, however, should be done in several parts. First, consider how your portfolio performed as a collective. Are you ending the year in profit or loss? Also, consider how your overall portfolio performed compared to last year, so you’ll know whether you’re doing better or worse.
Next, you’ll want to know how each individual token performed. Your overall portfolio performance might be carried by a single breakout token amidst several underperforming ones. So, consider how each token has performed individually, ranking them by best and worst performing. This will let you know where some room for improvement might exist.
Not only should you look at how your tokens have performed but you should also look into how you went about investing in crypto in 2024. For example, you might have invested in many new crypto projects. This year has been a big one for presales and new token launches and as Alan Draper writes, new crypto projects were in abundance. If you made a decent amount from these investments, you might then want to continue in 2025.
Another thing would be to consider what types of tokens you invested in. Did you only buy meme coins? Did you have lots of new stablecoins in your portfolio? Did you HODL? Considering your investment techniques and how they panned out is a great way to plan for the year ahead.
It might be the end of the year but it is never too late to add new options to your portfolio. After all, BONK was initially launched during the Christmas season. Look up presales and other token launches slated for the end of 2024 and buy a few of them if you can. Besides new tokens, you can also buy established tokens that are ending the year on a high note. It is not unheard of for tokens to see bull runs around the holidays so keep your ear to the ground. One idea would be to set up price alerts so you’ll instantly know when there is a good deal in sight.