Back in November of 2021 when we saw the all time high's appear across our crypto portfolio it sparked a personal challenge. The idea was to achieve the $1 million dollar valuation on my crypto portfolio within 2 cycles which these days is looking kind of way off.
The last time we saw the all time high's printed my portfolio which was basically HIVE and HIVE Engine tokens achieved a staggering valuation of $250k. This was most unexpected and highlighted the power of what a Bull market can unlock and why one must always remain positive and have a wait and see mindset.
The problem is the crypto cycles have kind of changed moving away from the 4 year cycle with the mindset that history tends to repeat itself or replicate close to what has occurred in the past.
The Bull cycle for the altcoins has been AWOL for the last 4 plus years so who knows if we are still in the same cycle after the 2021 ATH's or have started a new one which means we have some time to go still. personally I am on the fence and do believe we are in the business liquidity cycles and not following the Bitcoin halving patterns anymore. Whatever happens we should know at the end of this year or next year what this cycle is doing and where we are.
The $250 K achieved in my first 4 years of crypto was the eye opener of what is possible and that mindset is still very much alive even though my portfolio like everyone else's has taken a hammering and I must be sitting around the $20k region these days. Not great, but a starting point none the less and more importantly the token numbers are growing daily through the various rewards being earned. If you have enough crypto tokens when the Bull cycle hits who knows what the final amount will be worth and if you have researched your investments properly which I believe I have then the chances are you should do very well.
The time line for achieving $1 million dollars within two cycles whatever that might be these days I believe is still very much in play and may now have to extend to 3 cycles. 3 cycles to achieve a target of $1 million is still a decent result considering this was started from 0.
Up till the last cycle the rule of thumb was you could invest $10K over 4 years and expect to see a return of 5x - 10x when you sold at the correct time. I never sold as it was more about learning and completing a full cycle seeing what this was like from the inside.
The smart play is to sell close to the top and buy back close to the bottom and that is the plan when this happens again whenever that might be. The bigger picture is always to remain in crypto and to earn a passive income from the various rewards with a target in the region of $10K. This I see more as a pension plan and there is no major rush to achieving this goal. Who knows maybe during the course of this cycle or the next or even the one after that but the important part is there is a goal that needs to be achieved or at least try and achieve this.
With so much negativity in the crypto space these days it is hard to remain positive and one just needs to block out any type of negativity even though so much has changed and crypto is slowly moving towards mass adoption. The take away from all of this is crypto is definitely not a get rich quick scheme and more like get rich slow if you have a thick skin and the mentality to see it through to the end.