February has been an amazing month. Up until now, it has mostly been a 2 man show with Bitcoin making gains, edging up towards its former ATH and of course SOL ripping higher. However, all that seemed to change in February and the rest of the market started join in the fun.
February looks like it has traditionally been a great month, but who would have thought we would have seen such a huge move up at the beginning of the month and topping out at 64k.
I was reminded today by someone who bought a whole Bitcoin back in 2016 when it was around $400, how those gains have compounded over time. Just over 7 years later, that $400 is nearly a 200x which is pretty impressive. Is Bitcoin still worth buying now at over $60k? Will it have such a return in 7 years time? The law of diminishing returns says no, but probably the returns will still be good.
Over 2 years ago now, as I was thinking about the future bull run, I had some ideas to take some profits once Bitcoin hit 67k, but looking at the market, that doesn't seem the right thing to do. However, it would also be pretty impossible to know where the top is from this cycle. The hype train seems to be picking up steam and it is easy to get complacent and think you are a genius if one of your bags pumps like mad.
Even my CRO bag is doing great and I am starting to feel like a genius for being just -20% til I'm in profit again! Go CRO go!
However, it is much more enjoyable seeing many more green days compared to those long dark bear market months. The strange thing is that Bitcoin is pumping before the halving and we didn't even get a fed pivot yet and interest rates are still pretty high. What is happening this cycle?
It was looking like the bull run was skipping past Hive and the token was in the doldrums, but it seems today to be showing more signs of life and approaching a crucial resistance level. The bull run is coming to Hive. Is it time to celebrate and expect more people to come back after their bear market haitus?
I certainly hope so, I like to have my Hive bag pumped. One thing is for sure, the excitement of everyone is building, especially on Twitter and the price targets are climbing ever higher, not only that, the bitcoin engagement farming is at fever pitch. However, until we take profits, we don't have any.
We still have some time to go for this bull run yet, but once your bags are pumped, do you have some plans to take profits? or do we ride this bull market back down again. Yeeehaaa!
Thanks for reading.
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Let's connect : mypathtofire
It's nicer not to see those dark days of SBF and Do Kwon. I believe that even buying BTC at 63k might still yield tremendous profit in 7 years for whoever is doing it. 200x is staggering considering 2016 till now is only 8 years.
Yes, they were very dark days. I think it shows that taking a longer timeframe mindset can really pay off.
Crypto is always uncertain. And whenever I place a trade, I'm quite anxious during that period. But hopefully we will make a profit. Haha
Yes, fingers crossed we get lucky!
Definitely we will take profits man. Because this crypto is always uncertain, never believe this market. Haha
I try not to believe it and take profits! 😅
Wohoo love the pumps :))
Regarding CRO, I actually logged in yesterday and checked mine from years ago, and finally ordered their card hehe. Yes, I will take profit this time and rebuy the next bear market, much more than I did last time anyway. I think Bitcoin will get a pullback and test the trendline like last time before the last phase..
I hope I can dump my CRO at around $0,20 to break even. Im not sure I will buy in the next bear market, but you never know!
I thought BTC was looking more for a big move up than a pullback now .. it it now a bullish flag formation again? plus supply crunch?
My target last year was 38 ih&s, then 48k we hit perfectly, then 57 and 64k as mentioned in my btc post. At some point it will not hit my next target and rather get a pullback.. so typical to happen when you least think it, i dont know man, its hard with all this bulljuice last months. Regarding CRO mine is free airdrop was early into it, so just leaving it they are free for me just wanted the card in previous bearmarket i think, cant recall anymore hehe
yeah, it will pullback when you dont expect it. I still have the CRO card, but didnt use it in ages!
Nice, looking forward to mine :)
When do you plan to take profits with BTC btw?
I have been taking a bit off, like 10% for now. I hope we go to you know 100k++ but i dont think it will happen, i think 90k is in the cards. Il probably sell maybee 40% more, mainly just holding btc for long term so small amounts probably, but alts il exit this time dam i learned last time hehe
That's a good plan. I'm feeling we have further to go this cycle, but who knows what happens. Defo don't want to be left holding the bag with Alts! Lol
I will play it like last time, buy dec 2018 sell dec 2021, so this cycle buy dec 2022 sell dec 2025. But it seems we are ahead of scedual, so it might be dec 2024. But if we get a correction down to 45k ish, the cycle will probably last to 2025.
Champ move not selling cro and holding it this far!
Going to turn into profit soon.
Yeah, its gonna be good to be back in profit there. Lucky I bought some near the lows, the degen gambler that I am! 😅
woah u must be happy. so where did u end up moving all ur hive too O.O. teach me your secrets
😅 just into fiat to pay some bills.
oh i see. i thought u were making plays with other coins. even shib up 60% :( hopefully we see sps up big soon
yeah, be nice to see our bags pump!
ya sps 1 dollar plz lets goo
Its gonna pamp!
lol i hope so its kinda depressing to see others tuff go up while sps just sitting
That means people who bought BTC for $400 in 2016 and have not sold must be millionaires right now and it’s not even up to ten years yet
Cryptocurrency is now looking like a lucrative business, lol
Yes, they are sitting pretty good right now I think! 😅
Definitely have some plans to take profits! I think this cycle will bring massive returns and is better to capitalize on it than ride the bull back down into the bear :)
Good to hear, we don't want to end up bag holders in the bear market.
Did you try the ecency perks for boost account with hp? Will you recommend this practice for me please guide me based on your experience.
I didnt try this perk yet, I think its a good thing though. There is a guide here:
https://ecency.com/hive-133311/@ecency-star/how-to-get-1-500
Thanks for sharing the guide ill bookmark it just in case I have to get back to it.
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