Chasing the Dream The Zero To $1 Million Personal Challenge

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I do think when we set ourselves targets we tend to achieve far more so after seeing how the peak of the Bull cycle adds so much value last time out I thought the $1 million challenge would be a fun project. Back in late 2021 the portfolio was slightly over $250K having risen from $20K. This goes to show you that you just have to wait and see.

The only handicap was during the first 4 years involved in crypto I never sold any crypto and have no regrets. The idea behind this was more about having a look and actually learning the cycle paying close attention along the way. This made the entire first cycle I was involved with more about accumulation and thus have been accumulating from day one and this accumulation stage has now been nearly 88 months or 2641 days to be more precise. Diamond hands for sure but that does not necessarily make you rich and there has to be a time to sell high and buy back cheaper.

The funny thing is when you start out in crypto you for some reason think this will be so easy because that is the impression crypto had back then. Little do you realise this is not easy and this is going to take many many years to create any type of value. I think that was the best lesson I learned quite early on and you just have to stick at it.

On todays prices my portfolio is close to $60K and well short of the $1 million target, but in the same breath my portfolio is much larger than what it was at the peak of the 2021 crypto cycle. Back then the portfolio blossomed into a $250K number and is meaningless unless you sell. No cycle is ever the same and why we need to diversify our holdings and at least give ourselves a chance.

Todays portfolio of $60K across roughly 3 decent sized crypto stakes will continuously grow and I am optimistic that the end of year peak in this cycle will transform this number well above $1 million. For most who do not know the power of a bull cycle may think this is kind of crazy, but having witnessed this first hand nothing can ever be ruled out.

Never judge a cycle until it has been completed as this is never easy to sometimes stay positive when we spend the majority of a cycle in a Bear market. This is actually quite easy when you have a growth accumulation mindset because price plays no part and is easily dismissed from any thoughts. The tough part of this cycle is yet to come when the candles turn green and the portfolio rises in value knowing exactly when to start taking profits. Sell too early and you would have kind of messed up the entire time of accumulation which in my case is many years.

I still stand by the $1 million challenge being possible within 2 cycles even if you never sold in the first cycle like in my case. This not selling for sure makes it much tougher but then again this is a personal challenge that is designed to test you. If it is not achieved this will not be the end of the world as it will be achieved within the next cycle and not just making it, but smashing the target. Doing a 10 x in each cycle should be easy going only if you sell and buy back plus making sure you continue to accumulate via staking.

Posted Using INLEO