To say my confidence in crypto was shaken during the beginning of this bear market is an understatement. I still believed in it, but wondered if enough people out there would continue to believe enough to breathe new life, and dollars, into it. It took me a few months to get over the bear market and the fact that my crypto wallets had taken on huge losses. After the initial sulking I did what I always do and researched. I read and watched everything I could find on surviving a bear market. CryptosRus and Crypto Casey were two great YouTube sources to get information as were the dozens of articles I could find. Hope began to grow as the idea of lowering your overall average costs, by buying in the bear market and dollar cost averaging whenever it made sense, took root in my head. This became my focus. It turned out to be a great strategy because at this point, I have lowered the average costs of all my cryptos. Now, I am just being patient.
I had to push myself to make many of these buys. I had a good amount of money in the Graph token and was up big for awhile before the bottom dropped for everything in November of 2021. Putting more money in at such a low price was tough, especially because there was very little information out there on what people at "the graph" were doing. The same was true for many other cryptos. There was little information to go by, just market caps and a handful of generic stories. Much research took place from YouTube and podcasts, and there you really need to sniff out the good information vs. the agenda of the host. As time has worn on, however, news and information begin to come out. This has fueled a new level for me and gotten my excitement levels revving.
It has been a decent start to the year for Bitcoin and crypto. Crypto was showing strong signs of breaking its bearish trends for awhile since the new year and now with struggling banks in the news we have seen Bitcoin take a more dominant stand, hovering now back up at $28k. Recently news broke that Fidelity investments has opened up crypto buying to its more than 40 million account holders. Couple this with Blackrock investing CEO Larry Fink's loud support for crypto and the future gets much brighter. With these giant companies getting involved, cryptos roots dig deeper and grab on tighter. Taking a look at the Hedera project (Hbar) you get a look at the global interest in crypto in major corporations. Hedera's global council is made up of 40 companies, including Boeing, IBM, Google and Dell, but also major companies from Scotland, Australia, Germany, Singapore, Korea and South Africa to name just some of the areas of interest. Together they have been investing hundreds of billions in the technology and concepts behind crypto.
The biggest players on the block have also been quietly positioning themselves to cash in on the next crypto wave. Microsoft, Google, Apple, Facebook, Amazon, Tesla, Micro Strategy and Ark investing have spent hundreds of billions in preparation for the near future. If and when any of these companies create and release their own crypto, that alone could be the spark that ignites a rocket. Many experts say that it will take these giants entering the crypto space to fuel mass adoption. It makes sense when you break it down. Their money will entice millions of regular Joes, giving them more confidence in this new financial age. People scoffed at electricity. The President of the United States was afraid to turn on a light switch when electricity was first brought to the White House. Everyone laughed at internet investors, who now laugh back from their yachts. I suspect the early crypto investors may have their moment as well.
