After a week or so of green market movement, we have returned to sideways movement for a while, and the question remains: when will the market finally move? It is frustrating, is not it? If you are an altcoin holder who has established a comfortable position, you will be eagerly anticipating, and seeing the market remain stagnant will make you reconsider your investment strategies.
Do not worry, the market will test your patience; however, everyone is being tested; it is usually those with a lot to lose who are most concerned.
The time to be a BTC maxi
For example, some people have converted their BTC to altcoins at 74k. However, altcoins have suffered more than BTC in the last two to three months, and they are now questioning why they made such a bad decision.
Some have also converted their USDT to alts, which has not paid off in a short period of time; unfortunately, they are unable to convert back to USD or stablecoins; otherwise, their decision will be based on FUD. Either you ride or you don't. Unfortunately, this is the market for you.
That Short Term Losses
People mostly make these decisions to profit, but there is always the illusion that your timing is off; however, anyone who buys the dip is never wrong; they are more likely to profit when the time is right. The short-term losses before the eventual peak of the market may make you believe you are on track for another failed bull run, but the market always makes up for it.
For the time being, I believe BTC is playing its own game, which might seem fraudulent, but people who only own BTC do not feel particularly bad.
Certain Safety Or Uncertain Profit?
Regardless of where and when a BTC maxi entered the market, they are mostly still profitable. December? February? March? Except you bought at 74k just before the halving, but if not, majority of people who have bought crypto in the last one year are currently in profit, with those who bought in December in massive profit.
However, we all know that if someone truly wants to become wealthy with cryptocurrency, they will not rely on BTC. BTC is primarily used for assurance: you will not make as much money, and your losses will be manageable, but most importantly, you will almost certainly X10 your initial investment in 8 to 12 years.
It may seem like a long time, but BTC is almost certain to outperform any other cryptocurrency. So, if you do not want to lose a lot of value on your asset, go with BTC; however, you will not get as much money in such a short period of time. You can not have it both ways, so do not be fooled by the promise of free money.
$500k, Anyone?
So, if you invest $500k and let it sit for 8 to 12 years, you may be setting yourself up for financial independence, but how many people have $500k lying around idle? No one really, and unless you are a true OG, most people I have met or know have only seen two market cycles, while legends have seen three.
So, at the moment, there is nothing to do but wait. I believe the only people who will regret not making a profit in the long run are those who have sold off whatever they have, possibly out of excessFUD or because they need the money to run their lives. However, for whatever reason anyone sells, the penalty is the potential loss of profit.
In Conclusion
The US election is still upcoming, and many things can still happen. In some of my previous posts, I speculated on the likely outcome of the US elections. Donald Trump is most likely to be elected president, and I do not believe his crypto policies will be as bad as Biden's. So enjoy the ride; you still have a few months to wait.
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