The Right Time to Invest in Cryptocurrency was Yesterday
Bull in the middle of a Bear market
You missed the Bitcoin train in the early 2010s and were skeptical when new cryptocurrencies were launching all around the globe. You saw the incredible rise in crypto prices in 2017, only for them to fall spectacularly in the coming months and years. You were patting yourself for not dabbling in crypto and losing all your savings. Jump to 2021, and the entire internet has been caught up in a frenzy around Dogecoin, Bitcoin, and the others “going to the moon.”
That is when it hits you, the sudden wave of realization about what your life would have been had you invested even a little bit of what you could back then.
This is precisely how most of us have been thinking over the past couple of months. The entire social media and even mainstream media are now talking about it. Influencers and YouTubers are giving out their referral codes to download crypto trading apps. I, for one, have seen this happen all over my feed across different apps.
Let me be clear; this is not a piece of financial advice telling you how and where to invest your money. Not at all. Some people study the markets for years and get paid to tell you where and what to invest. I’m going to tell you what my gut says. It is based upon a little (maybe a lot of) research and reading about crypto over the past 4 years or so. But before that, time for a story.
A facepalm for the ages
I still lament to this day about a missed golden ticket more than a decade ago. While in college in the year 2010, it was the month of December, I guess. I was talking on a subreddit and stumbled upon somebody offering to pay me in Bitcoin, 100 to be precise, for writing something for them. We talked a bit, exchanged emails, worked, and got paid, but instead of bitcoin, I asked for payment via PayPal. If I remember correctly, it was around $10, and I was glad to receive it. Back then, a bitcoin was around 8 or 9 cents. I passed on their offer and never gave it a second thought until 2017. It was 2017 when the world truly took notice of Bitcoin and cryptocurrencies. And if only I had accepted those 100 BTC, sigh.
A leap of faith
The year 2017 is when I began reading and learning more about the topic and investing in the crypto market. But something held me back; despite studying the markets for a long time, I never invested. Cut to 2021, and it was early January when I decided to finally invest and got my hands on some altcoins like DOT, SOL, XRP, ADA, HBAR, VET, DOGE(because of the love of the Doge community), etc.
To my surprise, I saw Green, lots and lots of Green till May 2021. Not to brag, I am still in Green, not as much, though, since the market has dropped nearly 40 percent since then. So what changed? After years of thinking, deliberations, reading, and research, what made me invest?
Dawn of a new age
What made me invest was a simple bet on technology. Blockchain and crypto are here to stay. Like it or not, they will revolutionize the payment systems across the globe in the coming years and decades. And the marvelous thing is, these projects are just getting started. We are in the teething phase of the crypto market, and like the teething phase of anyone, it will bite. And it is biting right now, biting deep into the pockets of those who entered the crypto market at the peak of its hype in April 2021. They invested in it with little to no knowledge of the markets. And are now probably either lamenting their decisions if they’re still holding or have probably cashed out at huge losses.
To those who are still to cash out, I say, HOLD!! Just give it some time. You only make a loss if you cash out. And if you don’t cash out, then chances are you’ll make profits on your investments in the long run. The issue is that we’re comparing our returns from when the crypto market was unrealistically bull-ish and at an all-time high in April to when it is incredibly bear-ish since May.
This is a very short period in terms of any forms of investments. The prices might go further down, and the market might see a lot more Red. But in the last decade or so, since the arrival of Bitcoin, no other investment has given the sort of returns that crypto has. Investing in crypto does come with a caveat, it is —
The Iron Law Of Crypto Investment — Never invest in crypto what you can’t afford to lose
And to those who still haven’t invested, this is the right time to invest. The prices have not been this low for some months now. Grab your share of the crypto-pie, sit back and HOLD! If you’re interested in finding what altcoin you should invest in, I wrote about it here. This is the right time, and what more, we are getting an early bird discount.
Once again, it's not a piece of financial advice, and rather it's just a feeling I have.
To the Moon……
