For the longest while Bitcoin has been hovering the $70,000 mark. Many of us in the crypto scene knew to brace for a “crypto winter” and expected a few months of instability and market decline.
This turned into a few years, and like one of my great mentors had noted, it has returned. In truth the 100,000 mark is a big deal, but it’s truly just a number and has no real greater value tied to that mark for any reason.
People give it that power, because 100k is a mental checkpoint. I believe crypto is here to stay, and I know something even greater is just around the corner.
When the first major wave of crypto swept the world, it did something I don’t think anyone could have predicted. It created random millionaires and gave power to people who didn’t really know how to wield it.
This massive economic spike fueled startups, discussion groups, new careers, and at the very top of the pyramid of value we saw self-actualization. I believe it gave people hope.
It did for me a least, which is why I dug in so heavily to launching my first company and set me up for an unforgettable journey I could never have guessed.
The mentor that I mentioned earlier was a large part of that first company concept, helping me design a crypto currency structure that would fuel both projects in the company and support a healthy community investment ecosystem. The largest hurdle was in the time of its conception we were seeing the first signs of mass decline, and with it the short term collapse of the US West Coast investment banking systems. It was as if over night the entire world of startups, unicorn companies, and crypto investment groups just vanished. We woke up to a cold harsh reality that it would be some time until we could set foot back in the web 3 scene.
Bitcoin was always a snob investment to me. I liked the idea of smaller projects with smaller goals that could scale into millions overnight. Bitcoin just never had that potential in my mind. In reality, Bitcoin was still the largest and most well known. This meant for every one person that famous dog token got to buy in, two more would hear about Bitcoin and see it as a rather safe investment. This turned out to be true, and created a sort of stability in the space which I am now thankful for. Bitcoin has become the poster child for crypto and introduced itself as the knight in shining armor in all discussions about the possibility of crypto currencies in the global money scene.
I think nothing is more attractive then the idea that people can control their money separate from an overruling governing body. No one can print more Bitcoin because of a war, no one can create debt of Bitcoin to devalue everyone else, no one can control it. What a beautiful concept if even to get discussions going for everyone else. Yet if the whole world switched to crypto overnight, it would probably bring chaos and disaster.
So in the grand scheme of things, Bitcoin at 100k is a checkpoint where people will feel it belongs for the time being. Mentally they will feel safer buying under 100k if it dips down, creating an artificial stability or floor value. If it gets much higher above 100k, people may see it as risky to continue buying, some may sell off portions of what they own. I think this will force the price to sort of hover at 100k for a while.
In my mind the best strategy I would look for is buy if it drops to 98, sell if it hits 102, and put those profits into a smaller more risky portfolio on ecosystems and projects you would like to see succeed and believe could benefit the space overall if they do. So many are promising and seem viable on the surface, but when you really dig in there may be 1 real project for every 100 fake scams out there. You truly have to do your research and ask around, try to triangulate your due diligence and find three separate references for what you believe to be a solid investment. Even then, sometimes its just a gamble, and that’s what makes and breaks even the greatest day traders.
Stay safe out there everyone, and remember not to share your wallet information with anyone at all, ever. Unless you plan to give them control of everything in that wallet. use blank wallets for airdrops and giveaway events. Spend some time learning safe crypto practices, and always check back for the latest right here on crypto bounty tracker!
DISCLAIMER:
Crypto currency is highly volatile with no guarantee of value. This site is not financial advice, but a tool to help navigate projects. It is your responsibility as an investor to manage your portfolio, make informed decisions, and assess risk.