Of course, bitcoin is still dropping today. We’re in the mid-18, 000 range. I want to talk to you about what we need to be doing right now. I’m doing what I think everyone else who intends to be involved in crypto for the long term should be doing right now. And, if you want to earn 200 percent to 2,000 percent APY, simply copy best traders with Jet-Bot. This is a Binance exchange official broker that has been functioning since 2019. Start your trades today.
With that said, if you do not want to be in crypto or you think that bitcoin is actually going to zero or cryptocurrency is going to zero, you have got two options right now. You can short the market, so put your money where your mouth is and short the market. There’s definitely money to be made there. I am personally doing some of that myself.
The other option is to just leave. If you don’t actually like cryptos, it’s total nonsense. Those are your options. If you think bitcoin is going to zero, if you don’t think bitcoin and crypto are going to absolute zero, I think that a lot of cryptos are about to go to zero because we’re going to have a new era right. We’re essentially back in 2018; things are dropping, people are losing interest; companies and projects are realizing they don’t have the money to continue going without the hype around the projects; and we are going to go into a new age, a new age of crypto, where we see brand new narratives come into play; all of that sort of stuff; and most likely a very boring market for the rest of this year, for example.
So we have an opportunity in this market right now. We could potentially be looking at the bottom now. We could pump from here with a relief rally. We could continue down to ten thousand to five thousand to three thousand. Whatever it is that can happen, that’s what we need to plan for.
First of all, what we need to be doing now is blocking out the people who are saying that bitcoin is dead, crypto is dead. If you don’t think that, first of all, we’re blocking those people out, and I’m going to give you a reason why. An example from my history here in cryptography. So, during the black swan event in 2020, everyone said bitcoin was doomed. Everyone has been saying that bitcoin was dead for the past two years, right since we started crashing in 2018. Everyone in and around said bitcoin was dead. A week before the black swan event, where COVID happened, I invested again in bitcoin. I’ve been investing a little bit in crypto here and there. I bought some altcoins here and there during the bear market, but especially a week before the Black Swan event. I invested a significant amount of money in bitcoin at the time. From my memory, about a week later, we had the black swan event of it and bitcoin crashed another 50%. Now we’re sitting at around three and a half to five thousand dollars in bitcoin. Everyone is again saying bitcoin is dead and crypto is a scam.
Fast forward two years, and bitcoin is sitting at $18, 000. Forget about all of the noise. I bought bitcoin between 10 and the dollar cost average, so I brought my price down when I bought again at three. In 2017, I also purchased cryptocurrency at bitcoin for $3,500. I also bought a little bit in 2018 and 2019, but the point is that crypto and bitcoin were not dead at that point. It was three and a half thousand dollars, four thousand whatever, five thousand, ten thousand whatever. It will be significantly higher in 2020, right?
Can we go back down to those prices? As we speak, when everyone is saying Bitcoin is dead, we are significantly higher. So that’s the reason why you need to block out the noise. You need to do your own research. Look into bitcoin research. Decide for yourself whether or not you think it’s going to be around for a long time. I think it is I’m blocking out the noise and I’m going to continue to dollar cost average into bitcoin specifically because that has stood the test of time in my eyes. If I had been doing that heavily in 2018, 2019 and 2020, I would be even better off than I am right now. The first thing is blocking out the noise.
The second thing is increasing your earned income right now, and yes, that is easier said than done right, but this is the opportunity again, the same opportunity that we had in 2018. If you were involved in the 2017 bull market, we lost a bunch of money. Not enough people took enough profits, including myself, but in that time, I started to increase my earned income. I was working full time as an acrobat for Franco Dragon, which is basically an offset or a subsidiary of Cirque du Soleil. The same guy started it. I was working full time. I started to learn how to do e-commerce. I increased my earned income to the point where I could invest in bitcoin, Tesla, the S&P 500, and various other investments without worrying. I mean, all I was doing was increasing my earned income. That gave me the opportunity to invest money that I was okay with losing. That’s what I think is the most important thing, money that you’re okay with losing, and if you can increase your earned income, right now is the best opportunity because the prices are so much lower than they were six months to a year ago.
If you wanted to buy bitcoin at $69,000 or Ada at $3, or whatever the coin was, if you still see the same value, block out the noise. It doesn’t depend on the price. If you still see the same value over the next two years, you can dollar cost average into projects that you genuinely believe in with money you’re okay with losing. That way, if we get a huge pump, happy days, we’ve made a bunch of cash. If it goes to zero, you haven’t lost anything you needed.
When it comes to increasing your income, of course, you can get a raise or a promotion at your current job. That’s something to do, or you can start a side hustle. Everyone talks about side hustles and these side hustles. You don’t need to quit your job, and you don’t need to plan ahead, for you can go onto YouTube. You can type in top side hustles to start in 2022. You can start playing with the water, trying different things out.
One thing that I would suggest is to try and do something in the niche of something that you genuinely love and enjoy. That way, it will be much easier to create content and to create a business around that content. One of the opportunities we have right now is TikTok, where it’s easy to build a platform and you can build a platform around something that you love yourself. We see people with cooking ticks with millions of followers, and I guarantee you they are making way, way more money than the most famous chefs that we see in Michelin-style restaurants right now. That’s the opportunity we have in the market now. You can also start a brand, a clothing brand, products, all of this sort of stuff, and you can do things like drop shipping, which doesn’t take much inventory to start with. Yes, they are easier said than done right now in this market because not a lot of people have a lot of money to spend, but there are still opportunities out there. It’s just focusing your time and effort into building these income streams and not being too rushed. You don’t need to be too rushed in this market right now because we have time.
Things aren’t popping off. I would say we have at least six months before anything starts to happen. We need to see the macroeconomic level and playing field level off right. We need to see these things chill out. So you have an opportunity in the market for me. Dollar cost averaging and focusing on earned income is what I’m doing right now.
[This article is a transcription of a video made by Conor Kenny]
Original video: https://youtu.be/Pc5CnECGYVM ]