No asset can continue to rise without a correction. Corrections are healthy and lay the foundation for a strong bull market.
Each cycle, BTC is rejected multiple times at its previous all-time high before a strong breakout
In this process, BTC shifted from weak to strong. This is a very bullish sign!
Recently, whales have been buying in large quantities!
In July, whales bought 4,000,000,000 BTC at the fastest rate since April 2023.
And it’s only the middle of the month!
If you’ve been in the crypto long enough, you’ve seen it all.
Just like we experienced the ICO boom in 2017. We experienced the rise of NFTs in 2020. It looks like 2024 may be the year of the prediction market.
I still believe that 100 percent.
I think Bitcoin is the most promising cryptocurrency to buy in 2024.
I prefer to hold smaller, faster growing Altcoin. They have higher upside potential.
Here is my analysis…
The crypto has unique characteristics…
I first heard about Bitcoin in 2011 when it was trading for less than $5.
Didn't buy anything. Big mistake.
But from this mistake, I learned to appreciate a unique thing about the crypto: We all had the opportunity to buy BTC from the beginning, when it was just a seedling.
It provides asymmetric benefits…
In investing, "asymmetry" means that the potential upside of an investment is much greater than the potential downside.
Symmetrical investing is when an investor risks $500 to earn $500, or risks $10,000 to earn $10,000.
Asymmetric investing is risking $500 for the chance to make $10,000.
Bitcoin was launched in early 2009. On the same day, investors could buy Bitcoin for a fraction of a cent.
Most cryptocurrencies work this way. Their tokens are launched alongside the businesses on day one, when they are just small, early-stage startups. It’s like investing in Steve Jobs or Bill Gates tinkering in his garage long before Apple (AAPL) or Microsoft (MSFT) went public.
The crypto gives ordinary investors a real opportunity to participate.
Have you noticed how many people who get rich through crypto stay away from work?
You’ve no doubt seen the kid driving a Lamborghini…or the 20-year-old who turned a few thousand dollars into millions.
Think about how unique this is. Typically, the big early-stage gains go straight to Wall Street because it controls the deals and the pipeline. The rich get richer.
In the crypto, the situation is different.
When Ethereum (ETH) launched in 2014, anyone could buy it for 30 cents. Today, ETH trades for around $3,500. Where else can the average investor put $100 into an early-stage startup and see its market cap soar to $11.6 million?
The same is true for Solana (SOL), which launched in early 2020 for less than $1. Since then, it has risen 170 times. Today, Solana has a market cap of around $75 billion.
But by the time you can invest in it, it's already huge. Bigger than Meituan.
Investing in early-stage Altcoin is like buying internet stocks in the 90s
Cryptocurrency has come a long way in the past few years.
There are currently 580 million cryptocurrency holders worldwide — a figure that grew 34% in 2023.
But there is still a long way to go.
Today, the crypto UX is terrible.
It is impossible for a billion people to use cryptocurrency in its current form.
This is our chance...
Remember the Internet in the 90s?
I can still hear the cacophony of my old dial-up internet connection.
Websites were slow, pages froze, connections dropped. The early days of the Internet were tough.
But if you had the foresight to invest in emerging companies like Tencent, Alibaba, and ByteDance when the web was still in its infancy, you would have made life-changing money.
The lesson: While the internet is still confusing, it pays to choose wisely.
I bring this up because cryptocurrency is a lot like the early days of the internet.
Not user friendly. Confusing. A pain to navigate.
Frustrating user experience means we are still in the early stages of the crypto.
But just like the internet, crypto will become easier to use. This will attract hundreds of millions of new users and drive years of rapid growth in the cryptocurrency business.
By investing now, you can profit from this growth.
Bitcoin has passed the asymmetric growth phase…
As I write this, it is trading around $65,000. If, as I expect, it hits $150,000 this cycle, that number will be slightly more than double. Symmetry.
Can Bitcoin reach $1 million over time? If its adoption curve continues, absolutely. But it’s unlikely to surge 10x in 2024.
Don’t buy Bitcoin. Buy early-stage Altcoin instead.
With the Bitcoin halving, the best part of the crypto bull run begins — the euphoria phase, when cryptocurrencies across the board begin to soar.
But you want to buy the right coins.
99% of them I won't touch..... .but the remaining 1% will change the world.
The cryptocurrency market is still small and new, with plenty of room to grow.
That’s what I do with my money.
Investing in early-stage Altcoin is the most asymmetric opportunity available today.
Of course, achieving asymmetric returns of more than 1,000% is easier said than done and requires taking greater risks.
That’s why I recommend putting only 1%–2% at most into cryptocurrencies.
