A few days ago I was thinking how great it would be if the crypto bull market would last forever. If that era of abundance that @taskmaster4450 is talking for a while would finally become a reality. Not in a year from now, in ten or two decades, but now. How great it would be if I'll never have to work one day in my life...
Crypto is a life changing opportunity for quite a few of us all over the globe. Was reading yesterday a news about Koreans that have turned towards investing, trading and getting involved in crypto on quite a large scale. Some company owners and CEOs have found themselves dealing with the situation of loosing their employees to the crypto industry, especially IT people.
This thing is like magic money, like a non stop casino that at least in one year out of four offers the chance of winning to every participant. The chance is there, but how many are indeed making the most out of it. I sure know I haven't maxed out my profits, although I'm quite happy with my content creation revenues tbh.
I have a friend that somehow misses the point of this market, especially during these bullish times and keeps on falling in the same non productive patterns. What's funny is that he's in crypto for about four years. Hard to believe, but he often shorts the market, or should I say bets that the market is going down, via a sort of leverage trading on Binance right in the middle of a bull market.
He often times finds himself stuck with market down bets and is waiting for the market to rebound or taking the loss and jumping on another trade. I simply don't get that and was telling him this afternoon that even the name of the market trend is telling one what to do and how to trade. When we're in a bull market you become bullish and long the market and once on a bearish territory you do the opposite...
He smiled, but no signs of changing behavior. This one year after the halving is offering us opportunities for life changing money, but how many of us are really taking these opportunities, how many are actually turning $10,000 in one million? I'd say less than 1%... Most of us lack education, discipline and a plan, and that's why probably the only ones making a ton of money are the exchanges.
Often times when I see a token going from a few cents to a couple of dollars in a year or so I am thinking how many millionaires has it made. Not too many I guess as I believe there are others such as my friend that are betting against the obvious trends, some like myself that don't have the patience to hold positions throughout the whole bull market and so on.
Very few are actually buying low and selling high and actually scoring life changing profits with just a few grands invested. A token that goes from a cent to one dollar in one year or so is definitely trading a lot of hands. There's probably one in a thousand that actually holds an asset for all that time. Although things move quite fast in crypto and what you can earn in additional markets in one decade you can probably make in crypto in one year.
You don't need much skills to make money in crypto though, neither much due diligence. Just a bit of patience and discipline. Sticking with the plan is probably the best strategy one can have. It's so so simple, and yet so many of us are lost for chimeras... Just being in crypto is not enough, although it's quite a blessing. Being quite active and lucid is what will weigh heavy on your portfolio and personal finance.
Thanks for attention,