(Oh, and a Happy New Bitcoin Year, dear readers)
It’s certainly been a Merry Crypto Christmas and a Happy New Bitcoin Year for hodlers ‘going long’ (as Arya Stark’s actress might agree.)
We had some incredible stats on the Iconomi fund, if you’re a part of that.
And now… we have a healthy correction for what was clearly unsustainable in the short-term.
Did you sell at peak, to buy the dip? Who cares? for… hopefully you’re not wasting your time trying to time the market, but may have some spare cash simply to buy up more.
And if prices slip too far down, you can continue ‘dollar cost averaging’ again.
However, it’s not likely this will happen again. Too much interest and too many converging influences on the market.
Bitcoin: Not Time to Exit
During this recent, terrific start to 2021, I read some article by a guy who was well pleased with himself for leaving the Bitcoin market and taking his profits, admittedly at (quite) a good time. But we’ve all been there. It’s funny, what a focus on short-time price and hope, will make people miss out on.
You see, this guy actually believes he won’t be back for more. The rabbit-hole I mean. The Crypto Ship. And I really wonder about how many real gains he will miss out this year, overall.
Because, there is only one elite crew of real winners on board the true, trusty crypto ship: the Patient Ones. The ones who are working to create a new landscape for money. The builders and explorers of web3. The ones catching and hodling many small-fish tokens and never letting them go.
So let the idea of trading crypto just… go. And you’ll be wiser and happier.
Bitcoin is proving itself to be a hedge in uncertain times, of which there are many to come, and technological adoption is also starting. Infrastructure and young, interoperable networks are also waking up.
When faced with a runaway Bitcoin price, hodlers everywhere are (hopefully) starting to answer their own questions more and more, as to why they are hodling… This might be you!
Perhaps you realise how awesomely liquid Bitcoin is, and how scarce it’s becoming.
Perhaps you realise how integral it is to the entire emerging crypto ecosystem.
You might realise you’re v. tired of banks, full stop. The delays, the freezing of funds, the many log-in codes etc, the patronising and dependence on intermediaries to ‘do a good job’ with your money. (That’s ok, most of us have – or will have – our Revolut accounts, Monolith card, or other crypto VISA top-up cards, for now.)
Not to mention the hypocrisy about laundering and corruption, where banks ‘lose’ hefty sums every year.
You realise that the ‘legendary’ volatility is only a temporary, short-term aspect of Bitcoin (and not as bad as most other cryptos), which hasn’t affected its long-term growth, and usually bounces back – v. nicely. Many assets including gold are highly volatile too by the way. But Bitcoin will be more than gold, which remains largely irrelevant to most non-ostentatious folk.
Perhaps you can’t stand the ‘concerned’ bodies like the FCA ‘advising you’ and apparently ‘protecting’ innocent little investors from disrupting their old system. Apparently, you must be prepared to ‘lose all your money’ investing in cryptocurrency. In fact, this year, you could lose all your money in a bank.
And, you just realise how much passive income you can make with your crypto, compared to traditional instruments. That’s called De-Fi by the way.
Or you realise you are in love with the technology, and the innovation Bitcoin has incited, and will not be separated from it merely by short-term price fluctuation.
Welcome on board, in fact… to Ade’s Crypto Press, and another year of secretive, sporadic insight from ‘down the rabbit hole’. Follow along and get the odd update. Here, we see right through mainstream media articles, although many of them are getting more readable, strangely.
And many secrets are more widely known, and they will continue to spread like a virus affecting all parts of the old financial order in 2021.
Web3 is coming, and no, it won’t be chilly at all…
Jan 2021. Uploaded to Arweave.
PS: Coins to watch in 2021 include Ethereum and Blockstack. And no, this is not ‘professional’ financial advice. This is crypto financial advice, which assumes you are starting to take responsibility for your own ‘money’!