Ahead With The Wind

I had a brief exchange of comments on Hive the other day, and I think it was @evernoticethat who mentioned something interesting in that conversation. He said he could craft a lengthy post from just a single word. My inspiration for this post, surprisingly, stems from just three words: "Bitcoin versus altcoins."

Recently, I asked @empoderat about his heavy bets in this ongoing bull market. He responded by sharing his substantial investments in ETH, HIVE, and ORN. Surprisingly, he's taking a somewhat conservative approach for this bull market. It's worth noting that we're already in a bull market, though many won't realize it until BTC surpasses its previous all-time high. This pattern repeats every cycle, unfortunately – it's challenging to beat mass psychology.

Empoderat was something of a role model for me during the peak of the last bull market. If my memory serves me right, he turned a mere $10,000 into a staggering $1 million. That's a 100x return, an incredible achievement by any standard. While I did hold DOGE from 2019 to spring 2021 and saw substantial paper gains, he achieved real, tangible success.

Earning money in the crypto world might appear straightforward, but it's far from it. Achieving a 100x return on your investment requires patience, courage, and an in-depth understanding of the market. We've all encountered coins that went parabolic at some point, but how many of us held onto them? Making a difference often means being different.

The days of Bitcoin's meteoric rise are, in a sense, over. This doesn't mean BTC won't appreciate in value anymore; quite the opposite. The post-halving period typically sparks a parabolic run, and if a Bitcoin spot ETF is approved, it will further boost price growth. However, as Bitcoin gains traction as a digital store of value, demand from retail investors like myself has waned.

Affordability is a concern with Bitcoin. While you can still acquire some, it raises the question: why? If you view Bitcoin as the new gold or a digital equivalent, as BlackRock's CEO has suggested, then accumulating satoshis makes sense. Some of the altcoins that could make you a millionaire in this bull market may eventually become worthless.

In my opinion, over 90% of current altcoin projects lack intrinsic value. Beyond promises, well-designed websites, and marketing, they often fail to solve real-world problems. However, Hive stands out as significantly undervalued for its capabilities.

In the early days of Bitcoin, turning a few thousand dollars into a fortune over a few years was possible. But that era has passed. For those of us with modest means, the only way to achieve life-changing wealth is to pick the right numbers, or rather, altcoins, and play the game wisely.

Personally, I don't own any BTC (not even a satoshi). My portfolio is comprised solely of altcoins, and my bet for this bull market is on altcoins (cough DOGE). Despite what many might think, there's still ample room for fiat gains by investing in altcoins. Over the past five to six years, altcoins have consistently outperformed Bitcoin in terms of growth potential.

Take Hive, for instance; you can even participate in its social ecosystem and earn coins through various activities. However, you must play the altcoin game correctly: choose wisely, enter when there's blood in the streets (a substantial pullback of around 90% can be a good entry point), be patient, and avoid greed.

While I believe we're still in the early stages of this bull market, new all-time highs may not arrive anytime soon. Parabolic moves and massive profits will come eventually, but until then, the market will move at a crawl, and we, as investors, must be patient.

For traders, the upcoming bear market that follows the current bull market will provide numerous opportunities. Trading during volatile times can yield profits, whether the market goes up or down. However, for investors, the key is to exit the market before the house of cards crumbles. I've made mistakes in crypto during two consecutive bull markets. This time, things will be different.

Thanks for your attention,
Adrian