Believe The Unbelievable

"Imagine building a modern civilization on the back of a financial system where transactions take days to clear, and your displayed account balance may or may not be up-to-date because it's the weekend." I resonate with this, a sentiment shared by the Exodus official Twitter account. Many of us have found ourselves in this frustrating situation.

Yesterday, I wanted to invest an additional $200 in crypto, but for some mysterious reason, neither Binance nor Crypto.com allowed me to make the purchase using my VISA bank account. Every exchange I attempted gave me the same result: the transaction was declined by a mysterious payments service.

Although I've invested more than I can afford to lose in crypto, it always feels like it's not enough. My mindset today differs from 2018-2019 and even the first half of 2020 when I was terrified to buy crypto, despite having a larger savings pool.

The market, however, defied all doubts and turned into a full-blown bull market before we realized it. But are we currently in a full-blown bull market? Not quite. While Bitcoin has rebounded considerably since the lowest lows of late 2019 in this cycle, many altcoins are struggling to recover.

At the moment, it's primarily Bitcoin that's celebrating, with altcoins merely playing the role of spectators. This scenario mirrors the past bull markets. It's typical crypto behavior. However, an important question arises: how many of us foresaw the incredible peaks that some cryptocurrencies reached in 2021 when they were scraping the bottom?

Did anyone anticipate ADA surging from $0.03 to $3 in just two years? Personally, I didn't see that coming, even though I held a significant amount of ADA at one point. Did anyone predict DOGE's rise from $0.002 to $0.72 in about a year? Not me, although I owned a substantial number of DOGE coins at a certain point.

One of the challenges of crypto investment, and certainly not the only one, is attempting to predict the shape of the next full-blown bull market based on the trials and tribulations of a two-plus-year bear market. You have to believe in the extraordinary.

What held me back from investing more in crypto from 2018 to 2020 and from sticking to my choices? The absence of institutional money in the space, which was expected to fuel the bull market, and the global COVID-19 shutdown. Despite the lack of significant institutional money in the space and a "world on pause," most crypto assets achieved new all-time highs, with some performing exceptionally well.

According to John Templeton, bull markets "are born on pessimism, grow on skepticism, mature on optimism and die of euphoria."

Current narratives suggest that we won't have a bull market in crypto "as scheduled" (around halving time), primarily due to the potential threat of WW3. However, I don't expect it to happen simply because everyone else is anticipating it, and of course, the "looming recession." This impending recession just never seems to materialize. Why? Because the old metrics used by analysts to evaluate the economy are outdated.

As the quote in the introduction suggests, you can't construct a new world using old systems, so why should we concern ourselves with outdated statistics when building our future wealth? We shouldn't. That's why I've gone nearly all-in on crypto. Most of my future earnings won't ever enter a traditional bank account.

I'll cash out some funds through the crypto cards I own for emergency purposes, but the majority of my earnings will remain in stablecoins on the blockchain (HBD will reign supreme in this regard). At some point, you have to make a choice: follow the same path as everyone else or pursue the path that feels right for you.

I'm comfortable with Hive, BTC, DOGE, and a few others despite the volatility. If you examine the best performers from one bear market to the next, you'll notice that they consistently bottom higher in each cycle. This leads me to believe that HIVE should not drop below $0.5 in the next bear market.

In addition to earning Hive through various activities, having some HBD in savings will be beneficial for weathering the "crypto winter." Some non-crypto enthusiasts might question the reliability of blockchain technology or the potential decline of HBD, similar to UST on Luna. Well, what if it doesn't?

But what these non-enthusiasts fail to ask themselves is, what happens when the EURO and the dollar become digital, and governments track and tax your financial activities more extensively than ever before?

I mentioned earlier that I attempted to buy more crypto yesterday, and no exchange allowed me to do so with my freshly funded bank account. While my crypto holdings are secure, the situation would have been far more frustrating if I had no crypto investments.

So, believe in the extraordinary, as many cons will once again astonish us. Think twice before moving too many profits into fiat. Stay true to yourself, avoid greed, and don't become arrogant when you get wealthy from crypto. Be prepared for the next bear market because it will undoubtedly arrive. A super cycle for Bitcoin is not on the horizon anytime soon.

Thanks for your attention,
Adrian

Posted Using InLeo Alpha