Bitcoin's latest halving occurred about a year ago and ever since its inception(Bitcoin's), this event has been a catalyst for massive bull runs for BTC and the altcoins market as well. Altcoins are relatively new to Bitcoin, but some of them have managed to outperform BTC in terms of price performance the past cycle.
100x, 200x and even 1000x was achieved by quite a few during the 2017-2018 bull market and I have no doubt that this one won't be any different. The whole hype around cryptos back in 2017 was created based on speculation and potential of the projects which had their cryptos listed on exchanges, whereas this cycle we have an ongoing mass adoption process for crypto that's in full swing.
As stated by yours truly many times on this blog, this cycle might not bring those long awaited fundamentals based pumps after all, but we can't compare where we are at right now and where this industry was four years ago. I bet 90% of us will be blown by the magnitude of high prices will get this cycle and I have absolutely no doubt that we're still quite far away from euphoria phase. Not too far, don't get me wrong.
I was talking on the phone today with a friend of mine who was involved in crypto at some point as well, thanks to me, and I asked him if he knows how much is one ETH worth now. He told me he doesn't have any clue as he sold his 10 coins almost a year ago when the price was a mere $400 per coin. Now's $3,500 and my friend got left mouth open when heard the dollar valuation, and my take is that ETH will be a five figure crypto this year.
DOGE and ETH are considered to be catalysts for bull runs in the altcoin markets and the so called altcoin seasons fire starters. ETH so far hasn't had quite a show being valued at a bit over 2X its 2017 peak, but man what a rally DOGE has had. I doubt it will get to $1, but it is for sure a catalyst and an example of how a bull market chart should look like.
When you look at it, no matter whether USDT or BTC pairing, it's absolutely insane, just like these charts should look like in a bull market. If you feel like I'm exaggerating, take a look at almost any crypto's 2017-2018 chart, and their starting points look quite flat compared with the peak which is definitely drawing a mountain. Have a look at DOGE chart and see how its 2017 peak looks like now. It's a mere dot, that's how much its price has rallied lately.
If you want to have a perspective on how high your cryptos will climb and how the charts of most of them will look like once they peak, just look at DOGE. That's how a bull market pump looks like. That's what many of us are here for. I doubt any of us have put any money in this thing and hodling for over four years just to 2X or 3X the initial investment.
I'm not saying 3X is not good money, but we're here for exponential growth, for massive gains. These massive gains will come for sure for the ones mentally strong enough to handle the shaky waters ahead. When you look back at a chart you might think: how awesome would have been if I would have bought here(aka bottom) and sold at the top, but how many are going to hold as the price soars high. How many can handle that much dopamine?
There's almost always that fear of ridding the wave all the way up and down and loosing any profit that one could have, not just the massive ones. That's especially the case for the ones who have missed taking profits back in 2017-2018. These are probably the ones that are going to exit the market quite soon also while plenty of newcomers will ride the wave up and all the way down, same as I did the previous bull market.
There's no exact map for nailing the top and scoring millions in this game, or at least the most you can out of crypto investments, but the potential is here. I feel it. This bull market is not over yet, we've come quite a long way, but we're not on euphoria territory yet and most of the coins haven't painted insane charts so far, not even BTC. My take is that all of them will do that after all, it's on us though to handle such wealth and ride the bull all the way up.
Dollar cost averaging is the best strategy for a safe and rewarding exit and you definitely need a plan backed by nerves of steel to make the most of the ride. We can literally make millions in a matter of weeks or months, but it's definitely not an easy game. Hold tight and wish you all a great weekend.
Images courtesy of pixabay
Thanks for attention,
Adrian