I'm quite new to investing, I admit that. I was pretty much my entire life the type living on a day job, always saving, never owned a business and for quite some long time didn't even had the courage to envision myself as a freelancer/entrepreneur, or whatever you call it. Let alone an investor...
Cryptocurrencies have been my first dive into trying to make money work for me and the type of assets that are still educating myself in becoming a good investor. So far it has worked pretty well. I have managed to take out my initial investment out of crypto a few months ago, thanks to some good trades over time, and whatever's left in my wallet now is just profits waiting for a 10x, to say the least, for this bull market.
10x from here might be too much for some folks poor vision, especially when we look at BTC and where it stands, but if you pay attention to its chart you'll notice that it's done a 10x in less than a year after the halving, despite the pandemic and the world crisis.
What's caught my attention even more is ETH. Yep, the good old Russian flavor cryptocurrency that has a blockchain build for everything, and quite spicy gas fees lately, has just scored a new ATH of $1,459.93 today. It's token price appreciation since the launch of the blockchain, over 5 years ago is massive: 330,910%. What other asset would get one such ROI over 5 years... Definitely not gold.
I don't own ETH because I was too dumb to sell it way before it started climbing in a rush, when I was thinking that diversifying my portfolio with all sort of other shitcoins would benefit me more. Wrong. Dumb decision. It hasn't made any miracles, but the way I see it, it's better to acknowledge a poor investment and get out of it moving the capital towards a better one than to stubbornly hold on to egoic mindsets.
Most of my portfolio till a few days ago was LTC and some other shitcoins like DGB for example. These will probably do good during this bull market as well, but I feel like they lag alot behind the trend and the new tech getting a lot of hype this year. It's not 2017 anymore, crypto has changed by a lot, there are new crypto tendencies, investors and mindsets are different as well and 2021's hype is DEFI after all.
In 2017 we have had ICOs which have made some people around here a lot of money and now it's time for DEFI. I don't fully understand DEFI and I'm not actively involved in any sort of project as such, but I get the hype, I see the movements and where funds are directed towards and tbh DEFI projects do get a lot of all of these for quite some time now. I should have pulled my money out of my previous holdings and buy DEFI tokens many months ago, but I didn't...
I guess now it's not too late either. Hence I have invested about 75% of my portfolio in UNI(Uniswap). From what I've researched lately it seems to be one of the best candidates for massive price run ups this bull market and the development for this DEFI space seems to also be in full swing which is on UNI's benefit. I bought most of my coins about two days ago at a $9.5 per coin price average and now UNI is a bit over $11.
It might get to $5 in the next weeks or months, I don't care and I'm prepared for everything. All I know it's that I am 100% confident of this investment to be a good one and it's clearly brewing for a 10-30x from where it stands during this bull market. Just so you know, ETH was around $10 in January 2017, after a long time around a few bucks, and it got to a whopping $1,400 by the end of the bull market.
UNI is not ETH, but DEXes and DEFIs are an essential leap forward in the ctypto industry and somehow the hype is legit. Probably some of such project are completely bullshit, I don't know about that. I do know that UNI seems legit and I see a lot of potential in it. I wished I would have bought it when it was just $2, but regrets are too late now. $10 doesn't feel much either for the perspective it has during a bull market.
I'm betting a lot on retail investors to pump my bags and if you bother to google what's the best cryptos to invest in 2021 you'll see UNI on almost every shilling list. The other one that lays in my wallet now next to UNI, but weighing less than UNI is XTZ. I bought it out of pure intuition and speculation. Quite a few voices in crypto are calling XTZ to be following LINK in price movements and I like what LINK's doing on the market for many months now. Hope XTZ will follow suit.
I feel like I'm now sitting comfortably in the bull market roller coaster train and highly excited about 2021. It will be a double-edged sword for sure. At the end of it I will either call it a life changing year, or my best financial teacher so far. Interesting and pleasant times to be in crypto right now, right. Don't know how many do realize the massive impact and potential blockchain technology and crypto hold at this particular time in history.
Thanks for attention,
Initially Posted Using LeoFinance Beta