Many new users are entering the market since Bitcoin took off in late 2020. Even more got attracted once the Dogecoin hype went into a full fledge frenzy that even veterans recognize as a once in a lifetime event. Now the crypto market seems to be at the brink of another bull-run that will allow altcoins to reach new all-time highs. Most notable example is Ethereum that only recently reached 3.000 US-Dollars.
In today’s article we are going to examine what would have happened if you would have invested back in the year 2018.
Up only? Not quite...
Many people believe that early investors made easy money this year. Nothing can be further from the truth. First of all, somebody who bought in 2018wasn’t exactly early and second he or she might have bought the top.
The years 2017 and 2018 were among the most successful years for the whole market. The rally started in the year 2017 and peaked between December 2017 and January 2018. Let’s say you’ve bought Cardano at its peak. It was worth 1,23 US-Dollars on January the 4th 2018. Therefore, you only made roughly +22% if you take the 2021 all-time high into account.
That sure is nice, but you wouldn’t be a millionaire, would you?
There is something you can learn from this. To time the market correctly doesn’t mean you have to be early.
What if you have bought ADA in March 2018?
Let’s stay with our example, but only this time you patiently waited and bought Cardano in March 19 the 2018. At this point, ADA was only worth 0,16 US-Dollars. That’s an 837% gain on your position if you sold the top in 2021.
But there is another lesson to be learned. Be patient. ADA reached it’s top in April 2021, which means that you had to wait for three years to be in a very profitable position.
Undiscovered riches: LiteBit will remind you
Many people who bought years ago forgot about their crypto holdings. Namely because it was only worth a few Euros back then. A couple of them got especially lucky, because they had Dogecoin in their portfolios and LiteBit already contacted them. But you might be lucky as well. Did you checked for inactive accounts and old wallet files?