Cryptocurrency Bull Cycle Setbacks
In this bull cycle, the crypto sector disappoints me because of its surprising bullish surges and events that I never predicted. That is why investors got bored with this market and were forced to exit it. I recall when Bitcoin was about $22K and the pricing of all altcoins were the same, which they are not now. Specifically, the price of #hive coin ranged between $0.3 and $0.4.
source
However, the current price is $0.23, which is really disappointing. We see a positive increase for Bitcoin and a bull run for Bitcoin alone. Bitcoin achieves an all-time high and sets a new high of $107K.Currently, the price of Bitcoin is around $85K, but altcoins are still at the position they were three years ago. This is how the bull run was limited to Bitcoin.
One thing I learned from the crypto market is to always invest in currencies that are in the top five. All of the top five coins are performing well and have reached all-time highs.Bitcoin, Ethereum, Solana, and BNB are the cryptocurrencies that have surpassed their all-time highs. If I had invested in these coins, I would have made a significant profit. But I had planned to invest in cryptocurrencies with the potential to provide a 10X return, but everything went wrong and happened against our expectations.
For the next bull cycle, which might come in 5 years, I am prepared to invest just in the top 5 coins, primarily because practically all of them are ETF approved.What are your thoughts on investing in the top five cryptocurrencies? Have you invested in these coins during a bull run and how have you profited from your investment? I'll be pleased to see your responses in the comments area.
I hope you found this post helpful and instructive. If you do, please reblog it so that as many people as possible can benefit from it. Also, remember to upvote, since this will benefit me monetarily and expand my account.