Most people reading in this article are probably already into bitcoin and ethereum. Chances are that you see these assets as the way of the future, maybe even they will be life-changing assets for you. One thing that we all have in-common is that most of us feel that we got into the market far too late. That we had missed our chance, that the train had already left the station. For people who got into BTC and ETH this year; they regret they didn't start investing last year when BTC and ETH could be bought for $3,500 and under $100 respectively. For people who got in during the 2017 bull run, they wished they could have began investing when BTC was under $1,000, and ETH was only a few dollars. This is a theme that repeats time after time. And it is very understandable to feel that you're already too late. The price of each coin have risen to quite amazing levels. But I'm here to tell you that you're not late, in fact, you are still very early.
When bitcoin and ETH whales are interviewed; you will often see that they will say very similar things. They often use a baseball reference to explain how early we are in both of these markets. If you're not aware, in baseball there are 9 innings in each game. Each inning consists of a top and a bottom. Meaning each team has the opportunity to pitch and hit. Well when these experts are asked how far along the game in terms of bitcoin and ethereum, they will often say we are only in the top of the 1st inning. Bitcoin is already to $35k, ethereum to $2k, but if were are in the top of the 1st inning, just how far will things go. It is quite exciting to think about.
A lot has changed during the last year for both of these markets. Hedge funds and corporations have begun investing into both bitcoin and ethereum, and El Salvador even made bitcoin legal tender in their country. If you look closely you can see that the image of these coins have completely changed. What used to be thought of as magic money, a scam, or junk; has become thought of as the best store of value, better than the dollar, or the next great technology innovation that you can't miss. With countries adopting bitcoin I would argue that we are officially past the 1st inning, and marching towards inning 2 or 3. But how will we know when bitcoin has made it, that we are progressing towards the end of this market's game.
It's simple. Main stream adoption and knowledge.
One of my favorite things to do is to talk to people around me who I'm not that close with, and just talk to them. What are their interests, but more importantly, what are their thoughts on investing, Bitcoin, ethereum and cryptocurrency. While this is by no means a large sample size to make any determination, it is quite interesting for me.
And just this morning I was having a conversation with my brother about this very type of thing. He was talking to a random person that he knew from long ago, but had lost contact with. They have a great job, and are the type of person you would think that is considering investing. As he talked to this person more, he mentioned cryptocurrency, and that person replied by saying, "what's that?"
Maybe it was just a fluke. So he then startled rattling things off such as bitcoin, ethereum, and blockchain. This person had not heard of any of them and had completely no idea what they were. Again, this was just one person, but I tend to believe that this is more of the norm than most of us would realize. Those of us that are into bitcoin and ethereum, that know all of these complex words; we are very early and not the norm. Just think about how the mainstream users "complex words" that are designed to prevent the regular person from entering the market. The same will be for cryptocurrency as well.
The moral of the story here is that we are all much earlier than any of us can imagine. We are often concerned with what the current price of coins are, how much we have been able to accumulate, or how our portfolio stacks up when compared to others. Just remember that when we do progress deeper into this game for bitcoin and Ethereum. When mainstream adoption finally does take place. Although it will be a better money for them and help them to grow their savings. But, it will be too late for them to have made those life-changing gains.
Unfortunately, there is not much we can do to help these people. Yes we can tell them about how great both bitcoin and ethereum are. Telling them how they will change the world, and could help them to grow their wealth. But most of those people will not listen. Unfortunately this is a market that most people will not join or understand until they enter of their own will. With that said; it doesn't hurt to try.
Be appreciative of the position that you have set yourself up to be in. This is truly an exciting time, and we are all so lucky to be apart of it.
As for me, as I have mentioned many times, I have complete conviction in both bitcoin and ethereum. Even though bitcoin will always be my favorite. Realizing that we are early into this market motivates me to stack as much of these coins as possible. Before it is too late. Dollar-cost average, take advantage of dips, loan out some of these coins to accumulate more, and try to increase your income to put even more into these assets. That is the approach that I have been taking, and so far it has worked very well.
How about you? Did you feel that you were too late getting into Bitcoin and Ethereum? What are you best ways or methods to accumulate more?
As always, thank you for reading!