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Today was actually quite funny as I mentioned last week an ex work colleague of mine was going to try and look up his password for Binance and see what he had. I know he invested $500 in late January of 2018 and basically watched it filter down to less than $100 over the following year and he gave it up for good as every day he had less and less.
The bear market as we know was horrendous for many and plenty of investors who didn't take profit watched in horror as all of their profits gathered over the previous years bull run disappear. I read somewhere that this is what happened to a large percentage of investors as they never understood how important the taking of profits was. East to say knowing in hindsight the next 3 years was going to be terrible for those waiting.
Anyway back to what I was saying I saw him today and I asked him what had happened. He managed to get back into his Binance account and today had $503.26 in his account. This is kind of strange as this clearly shows how bad things were and how things have really recovered in a short period of time as it has not been that long ago since things started improving.
Just think if everyone had done something similar and not done any crazy things many of the lost profits will now be back in play which is kind of cool to think like that. This is like we have all been in a time warp except this time around things have changed quite considerably.
Change in the fact that Bitcoin has grown over 3 x with a market cap of over $1 Trillion up from $350 billion and Ethereum has also grown from $69 billion to $375 billion which is like having another Bitcoin around from 2017. The money that has flowed into crypto since the last Bull run is totally insane and why I recommended to him last week to re open and get his Binance account ready.
We have all seen how the market cycles run and we are still coming into alt season and according to many analysts it will be arriving shortly. I think the question everyone is asking is how much bigger will this one be and can it be 3 x or even 5 x or possibly much bigger than we can ever imagine.
I think FOMO will hit like it did last time as soon as the alt coins start going up catching a much wider and bigger audience this time. Many people around the world are desperate for good news financially and can see many climbing in like a gold rush. We have seen what retail investors have done with the likes of Doge coin and can see this happening to many other tokens.
I personally hope so anyway and there are never any guarantees, but it is certainly pointing in that direction. Can we see a $5 or $10 Hive this year or a $10 Leo I have no clue, but if it is going to happen the odds are definitely looking brighter as each week is passing. I am ruling nothing out and hoping we have a great year or two for everyone involved in crypto.
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