The cryptocurrency market is unlike any other financial market on Earth. Its technology will likely be the next big thing, and what all markets shift toward. Financial experts have declared that Bitcoin and crypto will cause the largest transfer of wealth the world has ever seen. This is possible due to its extreme volatility. While other markets would be in complete panic if their assets dropped by 10%. In the cryptocurrency market, that is just another Monday.
This volatility is what could help propel Bitcoin to price levels in the future that we have been dreaming about. But, with the good we must accept the bad. In order to have that incredible volatility to the upside, there must also be volatility to the downside. Meaning there will be times of euphoria when we all feel that we are becoming rich, and utter despair when we feel like we’ve lost everything.
The crypto dream; is the idea that you can become rich quickly by investing in the crypto market. We have all heard stories about how someone bought a coin that soon went parabolic, causing them to become rich overnight. This is something that happens every cycle in this market. It’s this hope that caused many of us to enter this market. Feeling that crypto could be the tool to finally get our life back on track and get ahead financially.
All of this is possible. But in order to become successful in this market we must admit the most vital part, those people who got rich by initially buying Shiba Inu, PEPE, and other meme tokens were the same as people winning lottery tickets. By the time these tokens exploded in value, most of the biggest profits had already been made. People who joined the hype then became exit liquidity for the early investors, resulting in them losing money.
One of the most famous ideas in investing is that becoming rich should be boring. By boring I mean that you should be buying things that will stand the test the time, and doing it on a continuous basis. You aren’t trying to get rich today, tomorrow, next week, or even next month. Instead, you need to have a long-term approach. Among veterans in the crypto market, there is a popular way of thinking about just how long it takes to become rich in this market.
During your first full crypto cycle, you can have great gains. During your second cycle, you can become rich. And during your third cycle, you can build generational wealth.
This is all assuming that you decide to invest in the right projects. When it comes to crypto investing I prefer to stick to the more proven cryptocurrencies; the projects that I call the “blue chips” of crypto. This market is already the most risky financial market on Earth. Compared to other asset classes, even Bitcoin and Ethereum are incredibly risky. When people venture deeper into altcoins they are amplifying this risk much more than they realize.
That is why I stick to the largest and most proven crypto projects. During the last cycle, most of my crypto portfolio consisted of Bitcoin and Ethereum. But I did also have a few other crypto holdings such as Cardano, Polkadot, and Polygon. While these projects didn’t see the percentage increases in price that Shiba Inu, Dogecoin, or PEPE saw. They all still performed remarkably.
The key to your success in the bull run in crypto is continuing to buy when the market seems to be in its darkest days. When there is fear in the market, people begin believing that this market could be on its final legs. Or even during the doldrums of summer when the price seems to only go down and sideways. These are the times that you need to be building your portfolio. Put in the work today, to enjoy the fruits of your labor during the bull market.
If you are able to do this and also have patience. Continuing this process for 2 to 3 cycles. You will be amazed at how you will have changed your life financially. That is how you set yourself up for the next crypto bull cycle.
How about you? Which cryptocurrencies are you buying for the next bull cycle?
As always, thank you for reading!
I also stick to the „blue chips“ like BTC, ETH and SOL. But hopefully also HIVE will achieve a new ATH. 😅🤞🏻