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Edited by Kapil334 at 23-12-2023 05:03 AM
Today, I'd like to talk to you about the world of cryptocurrency, a place where many have made fortunes, but where many others have gone bankrupt. As someone once said, "In the world of crypto, making money and losing it are often just a thin line apart."
Let's delve into why some people have struck it rich by holding certain coins while others have ended up broke.
People who held Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) have seen their fortunes rise. Those who held Filecoin (FIL) and EOS, on the other hand, have experienced bankruptcy. Why is this the case? The root of the problem lies in a lack of deep thinking.
Bitcoin is the cornerstone of the entire crypto market. If it were to drop to zero, there would be little point in looking at other crypto projects. Ethereum currently reigns as the king of public blockchains, with many projects operating on its network. Binance Coin, in turn, serves as the native token of an exchange, and as exchanges grow, its price tends to rise. However, it's worth noting that if an exchange goes under, BNB's value can also collapse.
Have you noticed a pattern? Assets like Bitcoin, Ethereum, and Binance Coin haven't been heavily promoted; they have quietly gone about their business. In contrast, assets like Filecoin and EOS have received substantial endorsements from various crypto influencers. Are these influencers frauds? Not necessarily. They, too, want to see these projects succeed, but the outcome often turns out to be different, and they find themselves harvesting the only option available.
True value is forged in the crucible of time, blood, and fire. The slow burn of time and the losses of retail investors are essential components of this process. In the world of crypto, ""HODLing Bitcoin"" is a common piece of advice given to those who have experienced losses. When you're making money, smaller coins may show impressive gains, but when losses come, Bitcoin tends to drop the least, while many smaller coins may plummet to zero.
Some say that Bitcoin has matured, and in the next bull market, its returns might not be as significant. However, I believe Bitcoin is currently in its teenage years, experiencing the fastest phase of growth, as various countries are just beginning to take notice of and value it. Bitcoin has a disadvantage: it's too affordable, but its advantages are countless.
HODLing Bitcoin remains one of the best investment strategies for the next 10 years, surpassing most other assets. However, there's not much time left. Only two more bull-bear cycles remain. After that, retail investors will find it increasingly difficult to afford Bitcoin. In the future, it might require buying it in satoshis (the smallest unit of Bitcoin), and its volatility will gradually stabilize.
In conclusion, I hope you all come to understand this and align your actions with your knowledge.
That wraps up what I wanted to share with you today. In the world of crypto, a place filled with opportunities and challenges, it's crucial to keep a clear mind and a keen sense of insight. May you find abundant financial success in the crypto world! |
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Post time 18-10-2023 22:43:58