Since late 2021, around 130 million people have engaged with cryptocurrencies, potentially experiencing their first bull market by 2024.
However, Ben Simpson of Collective Shift warns that this upcoming bull market is uniquely chaotic and different from previous ones.
Preparations for this bull market include clear investment goals, setting sell prices, and avoiding excessive exposure. Dollar-cost averaging can mitigate volatility.
Focus on mature cryptocurrencies like Bitcoin and Ethereum, steering clear of meme coins. Finding balance between speculative and mature assets is key.
Markus Thielen from Matrixport advises investing in new themes and cryptocurrencies, not just rehashing old ideas.
Mental well-being is vital. Avoid excessive exposure through loans or leverage trading, prioritize an investment mindset.
This bull market demands careful strategies and mental resilience.
I have to think that there is a limited range of folks who have gone into crypto-currencies. I’m wondering to what extent their pre-conceptions and motivations will affect the outcomes - trading and investing are not simply a matter of riding rising prices.
I’ll bet many crypto traders have had their fingers burned at other forms of trading. These guys are going to get them burned again.
Agree. It’s tempting cause there have been a lot of hype over new and meme coins but we’ve seen how a lot of those ended up. But in your case, do you have any other coins apart from these?
An interesting subject. Whilst I agree in principle that your strategy is sound, each individual should treat each part of their portfolio as an isolated investment, but link it with their overall investment strategy. In our case, we started mid 2020 with an objective of being prepared to lose all of our capital assigned to crypto with three levels of goals. We do that in our other pursuits too, but none of them have an element of “lose it all”. In that respect crypto is a unique contribution to our life plans.
So within crypto portfolio only, we have 80% assigned to “boring” or stable currencies. Another 10% is assigned to “trading” and another 10% or less is assigned to “sh**coins” or what I have more recently come to refer to as “three zeroes prospects”. These are currencies that have a chance of doing a 10X, or a 100X or a 1,000X. These are in the lottery ticket stratosphere. Our overall experience with Crypto has been amazing. We never did get to invest the total amount we had agreed as our bank. In fact, we invested about 2/3 of what we had intended. That is our luck. Before the end of this calendar year I have promised myself I will spend more time in actively rebalancing our crypto portfolio, but we had a few life-changing events in 2023, so I am patient to wait until early 2024 if necessary. Our current crypto assignment is as the graph embedded. My advice? Don’t copy anyone else’s strategies or plans. There is less than one in a hundred chance they will be good for you. we are all different - all nine billion of us.
Did the FTX implosion change anything for you? I mean, how much of the volume and gains were related to FTX and other big traders manipulating price that entire time? How can previous price levels and ATMs be trusted?
It’s a bit worrying to me, at least for everything other than bitcoin and ETH.
It’s tempting cause there have been a lot of hype over new and meme coins but we’ve seen how a lot of those ended up. 
But in your case, do you have any other coins apart from these? 
