I appreciate your answer(ing). I am in it for the long haul, I guess I’m still new enough to it that I am monitoring the short term too tightly. I know each coin is almost it’s own market, but have I noticed accurately that as the space’s elder many of the other coins seem to parallel bitcoins cycles?
Discussion
They often do, but I’m expecting a divergence this cycle. The financial industry is setting up to come into bitcoin in a significant way with new ETFs (eg BlackRock) and institutional exchanges (EDX). The alt coins will likely be suppressed from the attack on Coinbase and Binance. So basically bitcoin should outperform.
I went down the ETH rabbit hole for many years until I realized that all roads lead to bitcoin. I focus exclusively on bitcoin now and I just use it as savings. I never trade. Just buy and hold for retirement.
I’ve done the ‘learning rewards’ thing but have been skittish with throwing usd at it because of its volatility
Understandable.
It usually takes a full cycle (four years) to get more comfortable.
I recommend putting in a small amount and learning how to take self-custody. Along the way, you’ll dig deeper into the system and realize the path is volatile but the direction is higher because the whole world has to fight over a fixed amount.
If you have any questions about the system or software, don’t hesitate to ask!