"It's not a bubble until the monkey jpgs are artificially intelligent"
Do you know anyone in crypto who has managed to ruin two bull markets in a row? No one? Well, in that case, you should know that I am such a person who has really wasted insane potential profits in the past two bull markets.
I have been in crypto since late 2017, and when I entered, there was still plenty of room for growth and a lot of money to be made. However, I had no clue how to do that and ended up in the middle of the bear market of 2018. I saw a lot of my initial investment vanish without even realizing that we were in a bear market.
For a while, I thought I knew what I was doing, but my personal history is living proof that I actually didn't. I didn't have the courage to pull out of the market in 2018-2019, and I ended up losing even more due to opinions collected from the internet and irrelevant fears.
Consequently, I entered the 2020-2021 bull run with a relatively small portfolio and no strategy at all. I essentially exited it the same way I did in 2017, maybe slightly better off thanks to some airdrops I received and the success of HIVE and LEO.
Now, we are once again entering a bullish territory, in my opinion. Some altcoins and Bitcoin are already showing clear signs that the bear market is over, and we are about to face life-changing opportunities once again. "This time is going to be different." Really? I certainly hope so...
So far, I have moved a significant portion of my savings into crypto, and I believe I have prepared myself adequately for what lies ahead. However, I made a mistake that I am about to rectify, which is putting all my eggs in one basket (EGLD).
I am planning to fix this issue over the weekend by divesting from EGLD and redistributing some of the funds toward other projects that I believe will perform well in this bull market. I won't be liquidating everything, but I do intend to sell a significant portion and buy some AI coins.
Admittedly, I am not a big fan of artificial intelligence, but I see tremendous potential for these coins during this bull cycle, and I want to profit from it. Therefore, I plan on purchasing some AGIX, FET, OCEAN, and several others. I had previously held onto these coins, but at some point, I decided to go all-in on EGLD.
Now it's time to diversify once again, and hopefully, it's not too late. I believe it isn't, especially if the peak of the bull market will be sometime in 2025. We can say that we haven't really left the accumulation phase yet. However, how can we know when the bubble is about to burst?
To avoid repeating the same mistakes as in previous bull cycles, we need to be vigilant. When you hear or read about "artificially intelligent monkey jpgs" being in the spotlight, that's when you'll know it's time to get out of the market. Jokes aside, I liked this quote from Zerohedge and thought it would be a fitting title for this post.
In past bull markets, whenever the market, participants, and assets that gain the most attention are outrageously stupid and irrelevant, it's a clear sign to exit. That's how I see it, and I'm about to plan and act accordingly. What do you think?
Thanks for your attention,
Posted Using LeoFinance Alpha