Crypto Was A Positive Change

I joined the Crypto world in March 2017. I had absolutely no idea what to do and how to use cryptocurrencies.

I started learning using google searches and suddenly I found coinmarketcap. I didn't even know there were more cryptocurrencies beyond Bitcoin. I remember the page was looking like this one I post. Not the exact screenshot but very close.

Historical Snapshot by Coinmarketcap.

The first crypto I owned and moved to a wallet was Dogecoin. I didn't want to invest then, but to research the field first. I found it very exciting that the networks were decentralized and no central service was authorizing our transactions. I used a faucet for a couple of days while researching in my afternoons after coming back from work. Made it easily to 10 Doge and then I opened a Doge wallet, a web-based one that I found and was considered reliable. What mattered was to test the field more and with Dogecoin and the faucets, it was a good way to learn as a beginner how to transact with crypto.

If you start doing research you get fascinated by crypto. This is a whole new world opening up in front of your eyes. True financial freedom was never before this much available to us.

I was reading about Bitcoin occasionally since 2013.

I've heard of Bitcoin since probably December 2013, after it did a remarkable rally and became popular. It didn't reach some kind of massive mainstream media attention and it wasn't so popular yet. There were some articles written in the financial and tech websites and newspapers I was reading. It caught my attention since these early years.

I thought of buying in 2013, however, I checked the chart and it was another parabola. The price was $1,000 so in hindsight, I didn't miss something extreme. If I bought I would have felt too much pain during a declining market with Bitcoin reaching 90% lower in 2015. But I would have been earlier in this community and I still consider it a missed opportunity.

I bought a little in 2017 at a price close to $2000, traded, bought again a few times during the bull run, and sold for a neat profit at the beginning of 2018.

But it wasn't just that, I wasn't going to leave this market just because whales dumped, I felt there was more, and looking at the charts daily helped me convince that Crypto wasn't going to just die. It was a revolution that was just beginning. It is still just in the beginning, however, some cryptocurrencies have reached prices they probably won't reach again.

I kept my job for another year, however, I had to quit, as there was very limited progress and financially I could have done (and did) a lot better so far, without having to deal with a job that was leaving me with a sense of emptiness and was providing me just a small wage.

How this bull run went so far

We've seen that mostly those cryptocurrencies that work and offer something useful got attention. I say mostly because once again we have seen some cryptocurrencies that are in development for many years and they haven't released a ready product yet. Ethereum keeps developing, although slowly, and still has managed to acquire 20% of the market share. Also, we have seen Doge making it close to a hundred billion market cap and we once again witnessed the power of Twitter.

I had a target set, which was to make in 2020 and 2021 more than the average wage in my country from my cryptocurrency investments. This was the first target and it has been accomplished. In a bull run, it is not hard to make this, however, we all need to take risks, invest money and time.

The excitement during this last year was not the same as back in 2017 though. In the beginning, I've met and discussed with a few really good traders and some people that helped me understand the concepts behind Bitcoin. The messages of Bitcoin were not going to deliver though, and I wasn't a person that would trust without validating.

I started looking more into Bitcoin Cash in 2018 and this year became an active promoter. It takes time and dedication to understand why Bitcoin is Bitcoin Cash and I don't expect those with heavy BTC bags to try and understand. They don't see scaling as their enemy, they just don't understand Bitcoin and why it is unable to scale. Everything sums up to the fact that every early dev and every early investor have distanced themselves from BTC and some supported Bitcoin Cash occasionally.

Even the guy that created the "hodl" meme, is also considering the facts correctly and distanced himself from everything.

2018 and 2019 were not profitable years. In 2018 I lost a big part of my previous profit, and only in April 2019, the first signs of recovery appeared for the crypto market. Just for a few months, the market was looking bullish, and it was only an indication of what would happen in 2020. I'm expecting 2022 not to be profitable either, but I will begin accumulating when there is "blood on the streets". Currently, this drop is nothing and if a bear market has begun, I will be taking action accordingly.

In 2018 all the warnings I kept reading became reality. All cryptocurrencies lost between 80-99% of their market cap. Only a few coins survived the mayhem and there were many opportunities to buy very cheaply. Treating a bear market as a future opportunity is the way to invest and profit from this. A long-term viable plan requires buying low and holding when it goes lower, because eventually those projects that have potential, will survive and be lucrative to us.

I will make another post about the bear market and how I was dealing with it. I had high hopes but not the perfect strategy and the risk I've taken could have been a lot more. My strategy was not perfect and for this reason, I didn't profit as I hoped for, but still, it was more than what was the minimum expected.

I found opportunities in the bear market too but the profit wasn't that good as during the two bull markets I've witnessed so far. Still, I was happy having made more than enough in 2017 and managed to enter some good positions in a few cryptocurrencies during the bear market that paid off.

The mistake is not to invest and lose money. The mistake is to sell everything, quit, and never come back. Because the market is going to make you regret it twice.

Lead Image: Source (modified)

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