As the market turns so do the emotions of the crypto participants and it is amazing to see how many bears are now becoming bulls, how the bulls turn into permabulls, and at what pace "we forget" that the history keeps on repeating.
I know... "This time will be different". Cuz there's inflation and recession, and war and yadda yadda. No, it's not(different), it's the same shit spinning in loops for decades in a row for the traditional markets and Bitcoin looks to be replicating the pattern.
In the case of BTC it seems that the halving, no matter how much are trying some individuals to downplay its impact, is still quite impactful for the price of BTC, and the cyclicity of the market.
Old temptations die hard
As a crypto investor, I've done lots of mistakes in handling crypto portfolios since the year 2017, and I can say that I could have probably been a millionaire by now, had I played my game better.
There were plenty of well-renowned analysts calling for a $10k BTC, just a couple of months ago while it was struggling to hold $16,000 and now we're close to $25,000 and some altcoins have already outperformed BTC by a large margin.
AGIX is such an example. It is already 6X from where it was when I first read of it on Twitter. It's some A.I.-related project and seeing the hype around artificial intelligence lately I guess the pump makes a lot of sense now. I haven't bought any, though...
I guess I got too stubborn with my strategy and stuck to it. In the past two bull markets, the main mistake that I've done that led me to waste tons of potential profits was not holding for long enough. There was always some other coin that looked more tempting than mine and got me into dumping my coins for that shiny one just to miss rally after rally after rally by doing so with multiple coins.
I was like a drunk bee flying from one flower to another, a play that helped me waste two bull markets thus far. Now such temptations are coming back again. EGLD, my main holding is underperforming compared to some of these coins such as AGIX and others and I have to say that I was tempted a few times in the past month to dump and reallocate.
But then again, I've done that in the past and it didn't work well, so why would I do it again... Moreover, the way I see it, all we are seeing right now are just test pumps across the board, the real deal hasn't yet started. Most of the alts are still over 80% in the gutter from their ATHs. Oh, and I heard this one before too, not all of them will recover. And all I have to say is...
Trust me, they will. There's certainly the probability that some will outperform others, but at the end of the bull market, no matter what you've picked during the harsh cold bearish season is going to make you big money, unless you sell too soon...
How many Xs should we expect for altcoins in the next couple of years? Well, I guess anything between 10 and 100, or even more... There's going to be money to be made in the next couple of years, so stick to the plan, don't get greedy, and take profits because there's going to be a future bear market once we get uber-greedy. You can bet on that too.
That's it for now, peeps, I hope you have a great Sunday, and see ya all next time.
Thanks for your attention,