I will always be proud of buying into Bitcoin around $100, just spil I will always be proud of my capability to see past the brief term and hodl. Having witnessed and participate ter bitcoin leading the bull rally back ter 2013 to $1,000+ vanaf bitcoin wasgoed very likely the greatest bitcoin moments of my life. It wasgoed better than lovemaking, and even better than buying the bottom.
I could not even describe the stage of euphoria everyone wasgoed ter. You just had to be there to truly know what it wasgoed like. It wasgoed a very different practice than today’s fresh all time high and bull rally. I mean, this wasgoed the time when people were skeptical about Bitcoin and it wasgoed considered a fraud, anyone who touched bitcoin wasgoed a criminal. It wasgoed called internet money, or magic money. This wasgoed the time when CNBC and other major news outlet would not even voorkant Bitcoin unless it wasgoed about “Dread Pirate Roberts” and “Silk_Road” or other crime-related news associated with Bitcoin.
This wasgoed the time when wij only had the Winklevoss Twins publicly supporting Bitcoin and involuntarily becoming the face of Bitcoin. This wasgoed the time when wij didn’t have Venture Capitalists investing ter it, when Wall Street didn’t trade it, when the Silicon Valley talents were too busy working on Facebook, Snapchat, Uber, Airbnb and etc to “disrupt” the world wij know today.
This wasgoed the time, when the word “crypto” wasgoed brief for cryptography, not fucking digital currencies!
And wij didn’t have #Cryptotwitter! Wij had a handful of exchanges with trollboxes and IRC to orchestrate our ‘pump and dump’.
Today, wij have bitcoin futures for Wall Street to play with, crypto funds making accredited investors richer, venture capitalists backing and investing ter ICOs, Silicon Valley projects and talents transitioning into crypto, and wij have banks exploring blockchain technology and making patents ter hopes to monopolize blockchain technology for rich ivy-leagued white fellows only.
Now back to my headline. I mentioned my private practices to let you know that I have bot there, I Wasgoed THERE, and I think I have more authority on crypto than James Altucher and Tai Lopez combined. So listen to mij when I write stuff:
How I think this crypto market behaves:
1) Bitcoin leads the bull rally.
- FOMO (Fear of missing out) occurs, non stop media news coverage, notable bitcoin/crypto figures on television, traditional finance experts analyzes bitcoin’s trend, crypto twitter explodes, fresh mainstream investors come to stronk coinbase, coinbase loses.
Two) Bitcoin reaches fresh all time high.
- People are ter stage of euphoria, more hype, more fresh mainstream investors pouring money into crypto, more figures being interviewed on television, and self-proclaimed bitcoin/crypto experts comes out of their shells.
Trio) Bitcoin’s price somewhat “stabilizes”, this time its above $14,000+.
- The “I told you so” people come out. And,
Four) A handful of solid altcoins rally behind Bitcoin, $ETH &, $LTC leading the altcoins this time.
- FOMO resumes, reaching fresh crypto market cap ATH (all time high). Euphoria resumes.
Five) Top altcoins “somewhat” stabilizes, also reaching fresh all time high.
- The madness proceeds.
- Freshly minted millionaires and notable figures come out and preaches that blockchain technology and crypto is not about just money, that it is about just being part of the revolution:
6) Majority of cryptocurrencies go after.
- People buy the cheapest coins te hopes that they go up spil well (te which they do, even the dead coins listed on puny exchanges get ter on the act with $100k+ volume of trading activities ter 24 hours).
7) Majority of crypto including Bitcoin and top altcoins price stabilize.
- People lodge down, hype activities fade, crypto social media, news media shows sign of slowing down.
- Millionaires and notable crypto figures come out and warn people the “dangers and risks” involved when investing te cryptocurrencies because they have nothing to say.
- Bitcoins and altcoins starts trending down.
- Fright SELL!
- Proceeds to fluctuates for weeks to months, until finding its fresh floor price, it is usually nowhere near its ATH.
- Bitcoin’s very first thickest rally wasgoed $1000+, when correction commenced, it went down spil low spil $200, and finding its fresh floor price at $400-$600.
- Drought for months to a year.
- People begin regretting not taking profits, not even 30% of their portoflio.
- People back to bitching at ICOs and teams because the price is not moving up.
- Just a lotsbestemming of angry people ter crypto when wij are ter the state of “depression”.
Ten) Back to step 1, rinse and repeat.