The Only Thing That Matters in Crypto
Don't get distracted by all of the noise in the market.
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There is only one thing that matters in the cryptocurrency market, and how well you stick to it will end up deciding your fate in this market.
It appears that Bitcoin is on the verge of achieving something truly incredible. All of the cards are lining up perfectly for us to potentially see the goliath of all bull runs finally take place. Often called the “super cycle.” Bitcoin has already reached a price of over $120,000, and it appears that it is only getting started.
If you have been in the crypto market for any length of time, you will certainly know of the theory that OG Bitcoiners have had for years. That eventually, there would be a bull market that would cause one of the largest transfers of wealth that the world has ever seen. Those who invested wisely in crypto throughout the years would become the haves, and those who didn’t would become the have-nots.
With countries, companies, treasuries, and Wall Street all stampeding into Bitcoin, there has never been a better chance for this to actually happen.
However, far too many people in this market don’t own Bitcoin.
Perhaps it is due to unit bias. With the price of BTC being nearly $120k, that can be too daunting for many, making cheaper coins seem more appealing. They don’t understand how market caps work and truly believe that coins such as XRP could someday be worth $120k. Not understanding that would be impossible.
However, the biggest reason is that everyone is looking for the “next” Bitcoin. They feel they have already missed their chance with BTC and are looking for the next big play. Oftentimes going further and further down the list of coins, into much higher risk projects.
The cryptocurrency market is changing. There was once a time when you could pick literally any project and it would be essentially guaranteed to go parabolic during the bull market. But now, there are millions of coins and not enough capital to make all of them surge. This has been expedited even further due to the recent ETFs that have become a major success on Wall Street. All of a sudden, we have outlandish amounts of money that are pouring into Bitcoin, but not entering the crypto market in the traditional way. Meaning that this capital has no path towards entering other altcoins.
What this all means is that for the first time in the history of the cryptocurrency market, the quality of the project is becoming vital. Fundamentals are coming into play. You will be forced to actually research projects and invest in the successful ones. Zombie blockchains will fade away over time and never make new all-time highs. Just a few projects that fit this bill are Litecoin, Polkadot, Shiba Inu, Near, and the list goes on.
Finding blue-chip projects in crypto and heavily investing in them over time is the winning formula in this market. However, up until now, there has only been one consensus on what a blue chip is in this market, and it was ONLY Bitcoin.
That is changing. It is becoming safer to say that Ethereum has also joined the ranks alongside Bitcoin as being the only 2 blue chips in this market. Besides BTC, ETH is the only crypto asset that has seen adoption from companies through ETFs and as a reserve asset. It is also the blockchain of choice by banks and institutions looking to build on smart-contract blockchains. Sometimes, price can be a red herring. You need to pay attention to what the big players are doing, and it is clear that recently, there has been a big push toward Ethereum.
This will become even clearer once Ethereum reaches its previous all-time high and eclipses it. At that point, the only two blockchains that will have survived enough crypto cycles, come back stronger, and continue to build trust will be a list of only two. Bitcoin and Ethereum.
At the end of the day, the name of the game in crypto is to accumulate as much Bitcoin and Ethereum as possible. These are the top-tier real estate plots in Manhattan, and all the others are off in the desert. If you are hoping to survive in this market long-term, you must invest in the assets that have true staying power. The new meme coin may go up in the short term. But odds are that you will miss most of its appreciation, and over time, it will trend toward zero when compared to Bitcoin or Ethereum.
Becoming rich in the cryptocurrency market isn’t difficult. All you need to do is not become distracted by all of the trash surrounding you. Stick to the blue-chip projects, have patience, ignore FUD during bear markets, and continue to invest. Doing just these things will likely change your life financially forever.