Short version
I have investments in silver & cryptocurrency and with the recent sudden growth in values of both I am wondering if now or very soon is the time to sell or convert them to something else.
Long version
After the crypto craze in late 2017/early 2018 and subsequent drop, I believed that was an event likely to reoccur in the future and began investing some funds, through both direct purchase and into a machine capable of mining. Mostly bitcoin, etherium & litecoin, but also I bought a scattering of other cryptos with tiny $20-50 investments (based on whatever people were talking about at the time). Nearly all those small investments slowly shrunk to nearly nothing, a couple held value after a long dip, but one has absolutely exploded (LINK).
In the fall of the same year I'd seen people talking about silver & precious metals. I'd noted after seeing the value charts that silver was historically way out of step versus the climbing value of gold. Given the cheap price I bought. It seems now that silver is finally correcting after being flat for 7 years.
So how do you know when it's time to cash in your chips? Do I hold for the long haul or realize the gains I've made? Are there common strategies for it?
About me
Currently I'm late 30s, working my 80k/year job, have full rrsp, tfsa and ~120k more in stocks & investment funds. No real estate, car or kids. Co-habitating with my SO in a rental, marriage likely. We're in a major city with HCOL but live frugally. I'm not sure I want to buy a house here, especially now. SO hates their job and I can work from anywhere, so if they can find something better we may move. But part of my family is local and we have a few friends here, so I would lose that.
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