My journey into crypto currency started in February of 2018 with an innocent enough investment of $50 to test the waters. A few weeks earlier I had been visiting relatives and listened to my cousin talk about nothing but Bitcoin and crypto for three days. I put money in having no knowledge of what I was investing in thinking I didn't want to miss out on the next big thing. After a few short weeks my $50 became $60 and I thought, there must be something to this Bitcoin! Then in the blink of an eye my account showed $11. I was shocked. I couldn't imagine how it could have lost so much value so fast. That was my introduction to volatility. I laughed it off as a silly investment "scheme" and didn't open my Coinbase account for more than two years.
It was the fall of 2020 and the world was in the grip of a pandemic. Like everyone else, I was stuck at home with more time than I knew what to do with. I came across an article talking about bitcoin and how successful it was, and remembered that account I had opened. When I saw the account balance now at $85! I stared blankly at the screen. My whole life I was used to the traditional "growth" my money earned sitting in the bank. In just two years my measly $11 had grown more than 7 times? My curiosity was peaked and I dove head first into the crypto market. I began to buy various crypto currencies offered by Coinbase and immediately started to see great returns. This spurned me forward to buy more and more crypto, eventually owning 5 different wallets, allowing me to buy a larger variety of coins. My money was growing in leaps and bounds, until suddenly, it wasn't.
Within a short time I had lost a large portion of my investment. I wasn't in for huge amounts, but for me it was enough to be concerned. I had learned enough to know that if I pulled my money out I would lose most of my initial investment, but if I just left the accounts alone, I still owned the coins. This is when my education in crypto really began. I started to read everything I could find on the subjects of crypto, investing and the future. I needed to know if it was worth continuing. I was watching every video I could find for beginners until I started hearing the same lessons over again. Then I got in deeper and started to listen to every podcast and youtuber I could find. I got involved with the various communities of fellow crypto heads and began to pick as many brains as I could. They taught me not only the value of doing my own research, but how to do it.
Now, having lived through a bull run, and surviving a crypto winter so far, I feel more prepared than ever for what is coming. I understand that true success in the crypto market is created during the bear markets. The simple logic that you get more coins for your money in a down market tells me that practicing DCA (dollar cost average) is a sound way to go. I have managed to bring down my average cost across the board and continue to try and buy during the dips. The excitement I feel as we get closer to the Bitcoin halving event grows stronger with each passing week. It is a struggle between wanting to see the market explode and wanting the market to dip so I can strengthen my positions. Regardless, the explosion is coming, and those taking the chance are going to be rewarded.
The opportunities being created in the crypto industry are going to change the way we live. The mass adoption has not slowed with the pandemic or bear market. More and more companies have been investing in blockchain technology, artificial intelligence, web3 gaming and so many more crypto platforms, leading to more jobs and innovations. The United States is on a precipice where making the wrong decisions could see the country left in the dust in the technology field. The agenda that the SEC has against the crypto industry, and their constant attacks could drive companies out of the country to more crypto accepting places. Dubai, London and Hong Kong have all staked their claims to become leaders in crypto adoption, with many other countries also opening their doors. The U.S. money printing machines, that never seem to turn off, continue to devalue the dollar, while Bitcoin slowly becomes more scarce.
Isn't it possible that by embracing the future and new technologies, the U.S. could actually turn crypto into a positive investment? Perhaps, investing in Bitcoin could turn into a lucrative source of positive growth for the U.S. economy. Why not tax the various crypto selling platforms or add some sound regulations that entice institutional adoption while making them feel secure in their investment. I think some politicians believe they can just do away with crypto and it will fade off into the sunset. They don't realize that it is all over the world, and while the U.S. banning crypto would hurt for awhile, eventually it would just keep on rolling, right passed the stars and stripes.
