Bitcoin: Eye on the prize

I think May 2021 will not be in the same mental books as January 2018 was for most people. January 2018 was really the start of the bear market which lasted long. Very long. Cycle long as it should be.

After the Covid dip in March 2020 the rise and rise began. And it feels like we are not finished yet at all. Bitcoin pumped to 50K today and is all over the news again, so I guess a lot of people will be FOMO-ing in again. Because that is how the human brain works, it gets triggered at FOMO and that is now.
[Pixabay]9https://pixabay.com/nl/photos/bitcoin-cryptogeld-munteenheid-3215559/)
When VISA all of a sudden decided to get their first crypto punk, when that quarterback dude wanted his salary in May in bitcoin, when the Uber driver starts talking about Bitcoin...That is when you need to be cautious. The whales are playing games and you are their favorite bait.

Don't be the bait this time.

This run feels far from over and although in May when everything dropped so hard, I had secured profits this time. So it didn't hurt that much as in January 2018 when I was a rookie and stupidly over exposed. That is what I had learned in the whole cycle. Profit taking and not the endless run for more.

But on the other hand the biggest gains are made in the long cycle. I saw a Cardano purchase at 0.04 which I had received as rewards from a post here on HIVE. That same Cardano is now $2.84 or something per piece so hodling really has payed off on that one.

And that is the cool thing. It doens't have to be gigantic amounts. It is about having a certain amount and turning it into more. Either by some flipping here and there (I had some nice returns in May with selling and buying back lower) or with just holding. No headache, no worries.

In May we all said 'ahhhh this is just a long overdue correction for Bitcoin and after the Summer it will continue to rally' In retrospect all of this was true, but truly believing that in the weeks after that crash. Well, let's say my faith was gone here and there. But eventually it is turning out now exactly as predicted, which is just fantastic.

I have faith in the Stock-2-Flow model in general. Maybe it will not all be exactly on the dollar as predicted, but in general stocks and crypto as well are cyclic and work on demand and scarcity. Human psychology as well as we program our trading bots work on this.

We set levels around resistances because you expect a movement which everyone expects and that is where the self forefilling prophecy starts. And that is why the model in general will be correct. Because we act the we we are supposed to act.

So in that perspective...We will see you at 100K :D