Hey guys, bit of a different post today, but I'd like to consolidate with everyone with what I've learned over the last 10 years of being in crypto.
It's safe to say that sentiment is turning once more. It doesn't feel like we are fully in the bull market yet, and we will probably see another crash as December looms and everyone cashes out to buy their families nice Christmas presents and such. If you're like me then crypto has always been a rainy day fund, and Christmas is definitely one that I tap into. I'm sure a lot of you do too.
But after Christmas and we head on in to the halvening the sentiment is likely to turn rapidly around. We'll see new people come to hive in their hundreds, hopefully thousands, we'll see new Defi projects start up and talk about the moon -- and there will probably be infrastructure built in this space that we haven't yet seen, which will bring a new wave of excitement and people thinking they will be rich.
It's worth noting that in every bull I've been in there has always been a massive scam that's toppled at the foundations and come crashing down and taking most of the crypto market cap with it. Sam Bankman Fried wasn't original, it was just the next in a long line of crypto scams during the bull. @themarkymark always tells me that the road to hell is paved with good intentions and I think that was SBF's legacy. Good intentions, bad deeds.
Anyway, to put it clearer. In 2014 when I joined this space we were just suffering the fallout of Mt Gox, a tirade of ICO scammers on bitcointalk (my first investment was computercoin haha! Rekt), and not to mention a massive multi-million dollar scam that fell flat in 2015 paycoin - which rekt the entire sphere at the time.
In the 2017 bull we saw bitconnect promise to make people billionaires, only to crash the entire market in 2018. A lot of homes were lost that year I bet. And recently SBF with his FTX scam which is now known as the biggest recorded financial scam in our history - he lost effectively billions of dollars.
So this bull coming up will be no different. Don't think for one moment that when we're all richer than we've ever been there isn't someone waiting to pull the rug from under our feet. This promises to be the biggest bull we've seen yet, and I suspect it's the year the banks will be encouraging your mom and dad into investing into Bitcoin -- just be wary of what you put your money into and cash it out when the price is right.
If you start to think that you're richer than you've ever been in your life, and that you're almost untouchable, perhaps then is the time to start cashing out what you've got. Or at least if you don't want to cash out then swap it into something safe like a stable coin -- perhaps hbd.
Just be safe, and don't get rekt. Hive is a great investment, and it's what I'll be putting a lot of our chips in next year. Not going for anything fancy, just steady growth.
Posted Using InLeo Alpha