Officially "Making it" in Crypto

By johnwege | johnwege | 18 Jun 2024


The last  have been a lot of fun to be in the cryptocurrency market. Prices have begun to recover and reminded us a brief glimpse of what the previous bull market felt like. There is no other feeling like it. Waking up each day and seeing your portfolio is up by several percentage points. There is no better way to wake up. 

The bullishness returning to the market also put me in a reflective state of mind. Having me think about my current portfolio, future expectations, my endgame goal, and how I plan to make it happen. The longer that you are in this market, your chances of finding success increase. Becoming successful in the cryptocurrency market can result in you earning more money than you’d ever thought possible for yourself.

This brought me back to earlier days before I had found Bitcoin, and before I had even begun investing. I was irresponsible with money. Buying things I didn’t need, and spending money that I didn’t have. It wasn’t long until I found myself in a deep financial hole. A hole that at moment seemed so deep that digging myself out of it seemed nearly impossible. Or at the very least, I didn’t want to put in the hard work and have the extreme discipline to fix the situation. Thankfully I decided to finally make a change and fix the horrible situation I had caused. Through hard work, having side jobs, investing, and then finding Bitcoin early, I was able to completely turn everything around. While we may not be as early in Bitcoin’s lifecycle now. It is still possible to turn your life around by responsibly investing in Bitcoin and other high-class cryptocurrencies. If I can do it, then anyone.

Nearly all of us who invest in the cryptocurrency market have a similar goal. To change our lives financially. This can mean different things to different people. For some, it could mean finally escaping from the heavy burden of debt. For others, it could mean no longer living paycheck to paycheck by having savings. It could mean finally being able to afford a house that you’ve been dreaming of your whole life. Having a nest egg to retire in the future. Or, being able to retire young and pursue your real interests.

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There is a saying amongst crypto veterans that people can make great gains in their first crypto cycle. They can become rich in their second cycle. And they can become wealthy in their third cycle. What this all means is that the goalposts of what you consider “making it” in crypto will likely change the longer that you are in this market. As I mentioned before, when I first entered this industry years ago, paying off all of my debts was my main priority. Through good luck and fortune, my goals have changed over time. My current goal is to retire young and pursue my real interests. Which would probably still include writing about crypto, funding some businesses, and so on.

We have all heard experts claim that crypto will cause the largest transfer of wealth the world has ever seen. That those who have significant positions today will be amongst the richest people in the world in the future. Who knows if that fabled theory will actually happen. But, most of us agree this market is nowhere near its full potential yet. What this all means is that you should never limit yourself. If you dedicate yourself and work hard in this market, the sky is your limit.

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The number one tool that will allow you to make it in crypto is time in the market. The people who bought Bitcoin or Ethereum at $3,500 or $80 four years ago look like geniuses today. The same will be true for anyone who bought Bitcoin during the last several months when it dropped to $15k. If prices do eventually reach hundreds of thousands of dollars, then Bitcoin is still extremely cheap. Staking is also a great tool to increase your portfolio size as well. Once again, time is your friend when it comes to staking. 

How about you? What is your end goal with crypto?

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