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;
Track Your Tokens’ Performance
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.
Review Your Investment Techniques
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.
Stock Up on New Tokens
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.
Offload Some Tokens
While the end of the year might be a time to load up on new tokens, it can also be a time to offload some. On the one hand, tokens you purchased earlier in the year might have appreciated in value and it might be a good time to sell them off and exit the market. On the other hand, some tokens might have underperformed and the end of the year is a good time to cut your losses and move on.
Before you do either, consider how much you have made or lost from them in 2024 and whether you’re happy with letting them go. If you are, go on and sell them while working to improve on future investment decisions.
Consider Goals For 2025
The end of 2024 also represents an opportunity to make plans for 2025. Start by deciding whether or not you were satisfied with your portfolio’s performance this year. Based on that, decide how much better you’d like to do in 2025. Then, decide on some specifics like how many new tokens you want to invest in or how long you plan to HODL until you sell.
If there are any tokens you are considering, now would be a good time to look into their price predictions and begin to lay the groundwork for a successful outing next year. You also want to find out if there are any developments for 2025 that should influence your decision. These could include new laws being passed, new products being launched, halvings, hard forks, and so on.
Conclusion
The end of the year is a great time for investors of all types to review their performance thus far and plan towards the future. For crypto investors, this means looking at how individual tokens performed, how previous strategies panned out, buying and selling tokens, and much more. In all these, make sure you’re refining your approach to crypto investing to be applied in 2025 and beyond.
