Hello everyone! I am finally back with a new blog. I decided to take a little break from Steemit for personal reasons... anyways, here is my picture with a BITCOIN:
And Yes! It was literally one year ago today that I purchased my very first Litecoin (LTC) for exactly $43.84
And even if the market is severely down due to the ongoing bear market, its still almost 90% higher than it was when I bought my first litecoin at $75.28 at the time I am writing this. The highest a Litecoin has gotten was $370 on December 19th, 2017 which I never imagined LTC would reach that high.
During the year I have been investing into crypto, I started off buying BTC/LTC on Coinbase and HODL almost the entire time seeing the price of LTC slowly increasing during the last 6 months of 2017 and the first 6 months of me investing on Cryptos.
I remember it was not until November when I started investing on other altcoins in a US Crypto Exchange called Bittrex buying Dogecoins and Vertcoins.
And then I remember the bull market of December 2017 when several of my friends were shocked on how I made profits with Litecoin and increased my crypto value to as high as $5000 from under $1000 that I invested in total during the first 6 months of my crypto career. Yet I still HODL most of my Litecoins and not taking profits thinking it can go even higher during the next few months... GRAVE MISTAKE... you will know why soon....
During Janurary 2018, I remember wanting to sign up to Binance but they were not accepting new registers at the time and it was not until March 2018 that I finally got a Binance account! YAY!
Around this time, I started buying a bunch of Ripples under $1. Thankfully I starting buying after the all time high of $3 and when it crashed all the way down to under a dollar. I also bought TRON and Verge... and I regretted Verge since that Porn Hub partnership didn't do crap with the price and sold them for more Vertcoins.
In Binance I started buying some Neblios, Substratums and later on NEO which I first bought in Bittrex not knowing that I would not get NEOGAS in dividend pays when I was HODLING it in Bittrex, had to move it to Binance so I can get dividends.... it took a while cause NEO does not allow portions of a NEO to be transferred... it had to be a full NEO but that process was worth it cause afterwards, I start getting paid dividends for holding and staking NEO coins on that exchange. BINANCE ROCKS!
Later on I got into Binance Coins as well which is one of my long term investments just like NEO.
As for the last 6 months, there was an extreme sharp decline in Bitcoin due to many reasons:
- Mt. Gox Trustee selling thousands of BTCs in the exchange all at once
- Market Manipulations by Bitcoin Futures and Whales
- FUDS of many countries wanting to ban cryptocurencies, regulations and such.
- Good news does not do shit to the crypto market prices in a bear market.
- Chinese New Years
- Several exchanges being hacked.
Yeah a lot of this crap lead to a long term bear market that I never though possible and was not expecting, if I knew this sudden moonshot of all cryptos will later lead to a severe bear market after mid Janurary 2018, then I would have taken profits around the December and Janurary peaks, instead, I took my profits partially around late February when Litecoin was still over $200 and sold $500 of LTC so that I can use that for my last Texas trip covering Hotel and the plane ticket.
So at least I got to enjoy some of my LTC profits. Nowadays, I am only focused on buying more cryptos on the very lows of today's market to get ready for the next upcoming bullrun that hopefully will happen before 2018 ends. I hope BTC/LTC goes up at least 20-30% by August so I can use the money I have held on Coinbase (5-6 LTC) to buy my plane ticket and hotel to the Philippines this September without affecting my bank account savings xD I have 15 Litecoins in my Ledger Nano S that I probably will not be touching until like 2020-2025 xD
WHAT HAVE I LEARNED DURING MY FIRST YEAR IN THE CRYPTOCURRENCY MARKET AND WHAT YOU SHOULD LEARN WHEN INVESTING?
1.) When the next bull run comes, I will be sure to take decent profits on the way up with the mindset that this market will correct itself and may go to another bear cycle but will still having enough held incase it still gets bullish another 30-50%.
2.) I have learned the fundamentals of investing and building wealth for my future.
3.) Learned after the bear market to have a lot of patience and buy when prices are at their lowest of the year.
4.) It gave me more confidence on what I really can achieve in life. As an early adopter of the crypto space, the potential of me earning a lot more income than a normal job in the long term is quite high and I believe in some of the biggest projects like NEO, Bitcoin, Litecoin, Ripple, Neblio, Vertcoin and Binance Coin that has potential to revolutionize the world's economy in many ways.
5.) It helps prepare myself financially for when the inevitable US Dollar crash will come. When that happens, Gold, Silver and cryptos will be going a lot more up in value while fiat currency not backed by anything but by the government's manipulation will lose a lot more of its value. Its already losing purchasing power every single year.
6.) It gave me hope to becoming an full time entrepreneur one day and helping people around me understand cryptos better. I got a few of my co-workers and a childhood friend into cryptocurrencies in the last bull run. Later this year, I plan to make a presentation on cryptos to get more of my local friends to understand cryptos better. I want to be their guide to financial freedom in the future.
Anyways, regardless of the bearish sentiment, I came to the crypto space thanks to my friend Mike Fallah a.k.a Prince Auron when he told me about Litecoin and why its good to invest on it. Litecoin, as well as NEO, Ripple, Neblio and Binance Coin are all LONG TERM investments and you can be assure that I will continue to HODL most of my coins, buying more on the dips and selling on the highs for many years to come.
What do you guys think of this? How was your experience in the crypto market in your first year if you been in the crypto space for that long? Comment below please! I would love to hear from you! Upvote this if you enjoy what you have read and find this valuable to learn.
And until next blog post, take care, God Bless and STAY COOL! BAI BAI!! :D