If You're Still Here, Congratulations
Investing in Bitcoin and other cryptocurrencies is not easy.
I think that isn’t said enough. People have read stories of early Bitcoin adopters who made millions, of people who grabbed a Bored Ape from the Bored Ape Yacht Club for a few hundred dollars, or early Ethereum kingpins and they think this will all be simple. They believe parabolic returns are almost automatic.
But they aren’t.
Just like any other investment class, this one has ups and downs. There are bear markets and selloffs. Sometimes projects fail. Other times, the action is so quiet that it is boring.
Lately, investing in this sector has been hard.
Bitcoin hit an all-time high on November 7, 2021, just a few days after I started this newsletter (sometimes I have really unique timing). That was over 130 days ago. Not a short amount of time, when you consider all the things that have happened since then.
And since that moment, the price action has been mostly to the downside. Several altcoins have faded into oblivion, many small-cap tokes have failed, more than one scammer has been exposed, and the FUD (fear, uncertainty, and doubt) runs through the market. Back on November 7, everyone on Twitter wanted to talk about how they were getting rich on Bitcoin and other investments.
Now, almost no one wants to discuss it. Crypto Twitter is a ghost town.
So, if you’re still around, congratulate yourself. You’re pushing through a slog right now. You’re going against the grain. You’re taking a (calculated) chance on something that could open doors for you in the future. Nothing in life is guaranteed, but you’re daring to see a difference and take a risk.
That matters.
You’re also doing all of this against a wider backdrop of uncertainty. Many parts of the world are still dealing with outbreaks of COVID-19, a global power realignment, war in Europe, inflation, economic malaise, a supply chain debacle, an energy crises, and more. These are not easy times.
So, cheers. This one’s for you.
Plus…
There’s time time left to get tickets for Bitcoin Miami 2022! If you plan on going, get a discount with my code!
Finally…
We’re all feeling the pain at the gasoline pump these days. Skyrocketing prices show now sign of slowing down, and on top of inflation, it can be really rough.
I recently started paying for gasoline with a Coinbase debit card. It pays me crypto rewards, and I chose Bitcoin, which gives a 1% reward on every purchase. So, I’m stacking satoshis no matter how high the price goes. And we all know Bitcoin is deflationary.
Why not receive a deflationary asset while paying for an inflationary commodity? That’s one way to fight economic pain.
Interested it yourself? Sign up for Coinbase and its ecosystem by using my link and we can each get $10 in Bitcoin https://coinbase.com/join/celi.
The Crypto Connection is for entertainment purposes only and is not meant to be financial advice. Please do your own research before investing in any asset class. Sara Celi is not a financial advisor, and holds several cryptocurrencies. To purchase her books on Amazon, please click here.