November 24th 2024
Once youâve seen this pattern, you canât unsee it.
Every cycle, a new Bitcoin narrative emerges that drives price and adoption to new highs. Feeling like they âmissed itâ, investors flock to alternative crypto investments - alt chains, alt coins, shitcoins, memecoins, jpegs, and moreâŚ
A few of these projects represent true innovations and fun new blockchain use cases, but the vast majority are copycats and fraudsters who, unfortunately, feed on market FOMO.
In Boom1, Bitcoin blossomed as a true crypto "currency" as brands rushed to accept a new form of digital money native to the internet. Bitcoin âforksâ emerged to fill gaps in the market. Litecoin was the silver to Bitcoinâs gold. Monero was Bitcoin for privacy. Doge made crypto fun.
In Boom2, Bitcoin transitioned from a currency to a âstore of valueâ as Bitcoin Cash forked off and Ethereum took center stage. Ethereumâs potential captured the imaginations of developers around the globe as ambitious investors rushed to fund Initial Coin Offerings (ICOâs) â often for ideas that looked good on paper, but (mostly) never got off the ground.
In Boom3, Saylor put Bitcoin on his balance sheet and taught us that, âbillionaires donât sell, they borrow!â. Fueled by new primitives like stablecoins, DeFi matured while worthy competitors to Ethereum emerged. But it was truly NFT's that took the cryptosphere by storm - infusing art, design and culture into the crypto space while attracting new users whoâd been clowning on crypto for years.
Boom4 will be no different. Bitcoin ETFs are here to stay, and Nation States are finally realizing they better embrace BTC before they get left behind. AI Agents are building massive Twitter followings and launching their own tokens while very few people are aware it's happening (yet).
Do you see it now? This cycle isnât over⌠itâs just getting started! The âNFTs of this cycleâ are emerging. The Opensea of this cycle hasnât even been built yet. The FOMO of Bitcoin blasting past $100k is about to happen at any moment, and millions of investors are ready to pounce on whatever new projects are launched to fill the void.
Buying Bitcoin at this stage of the cycle is a trade, not an investment. Buying into whatever mega trend emerges next is a gamble, not a trade. But my God⌠itâs so much fucking fun. Itâs both wildly rewarding and mentally stimulating â and who knows? You might just get lucky.
Right now, at this moment, itâs time to decide how you are going to play the rest of this cycle. How much are you going to allocate to Bitcoin? What are you going to do with the tokens youâve been hodling since last cycle? How much are you willing to risk on emerging narratives? Where will that new capital come from? How much time can you afford to spend glued to your screen, staring at charts and stumbling down crypto rabbit holes?
And most importantly, are you physically and mentally ready for the absolute rollercoaster of emotion that will undoubtedly come with this next chapter of the cycle?
These are the questions you should be asking yourself now â not later. The choices are yours, and yours alone - but weâre all in this together. Welcome to The Banana Zone.
To the moon đ â @GÎR฿Z Founder & Creator @ BitLift
âThe Cycleâ Update
Nothing like a visual to help clarify where I think weâre at in The Cycle⌠Now letâs hope for a blow off top shape like we had in 2018 vs that ugly double top we got in 2021. There will be lots of fake outs along the way. The hard part will be figuring out whether the partyâs over or the DJ is just taking a smoke break.
Iâve been playing with Hyperliquid and I'm wildly impressed.
It's a super high performing decentralized exchange (which means no KYC, but it can not be accessed from an IP address located within the United State). The interface will feel very familiar - like Coinbase Advanced with limit orders, stops, etc. except you connect like you would any other dApp. And all the big coins (and memes) are there.
The main difference is that it's a "perpetuals dex", meaning you're trading in derivatives, so you don't hodl and can't withdraw the underlying assets. Also fees work differently ~ and can get very expensive! Be sure to read up on perp dexes and funding rates before using it.
All funds are handled in USDC and deposited/withdrawn via Arbitrum. And with most of the high volume/market cap coins you can trade with up to 20X leverage. Which is INCREZDIBLY risky. So be very careful! Try making a small deposit and running a fwe small trades to get a feel for it first.
Use my link (Code: BITLIFT) to get a 4% discount on fees:
Crypto Podcast Snips
I listen to a ton of crypto podcasts and started bookmarking important moments using Snipd to share with you guys on Instagram, TikTok and YouTube.
Arthur Hayes:âCrypto is NOT Banned in Chinaâ
Brian Russ:âTAO could reach $3000â
Arthur Hayes:âThereâs a Price where ETH is too Expensiveâ
Keep Up With Crypto
What Iâm reading, watching, sharing and keeping an eye on in crypto recently.
From the BitLift Discord #trade-log:
- @FÎRÎNC 11/14 - $DSYNC @0.299
- @FÎRÎNC 11/14 - $TAI @0.16351
- @gwindarr 21/11 - Sold ALL XRP $1.08 Looks like it's going higher, but wanted powder for any BTC dips.
- @gwindarr 21/11 - Sold chunk of $XLM position from 2016 @ 0.25-0.26.
- @badjanitor 22/11 - Sold a small (<5%) portion of my BTC @ $99.5k, because that was the plan and I needed to exercise my sell muscle. Will likely rebuy if we dip.
From the BitLift Discord:
@FÎRÎNC:
@skponchain: LINK seems to be a stablecoin these days, putting it for liq mining and making some rewards so I can sleep better đ
mostly will sell at 30-40$ though on alt season time, must get rid of it
@paulinepaulinepauline: LINK is depressing đ
@FÎRÎNC: total Mkt cap is at ATH 3.18T
@GÎR฿Z:
@tjt2005: Top signal: I just had a boomer friend say she was gonna put $5k in btc
@paulinepaulinepauline: I was thinking of buying some XRP because while it has been a formidable $0.50 stablecoin for like the past year it is the first non meme coin down the list for people who donât understand market caps and think it has $80,000 potential. But ADA probably makes more sense! I just noticed XRP did not do better in 2021 than in 2017 :/
******* 10 DAYS LATER *******
@paulinepaulinepauline: 2x in 10 days this is insane.
@GÎR฿Z: You called it đ
@skponchain: where's the 100k party podcast @GÎR฿Z đ
@GÎR฿Z: I'll be at Saylor's party when he smash buys 100k BTC @ $100k at midnight on new years eve
@badjanitor: Two years ago when I set out my plan for the cycle, I said I'd sell my first batch at $100k. It feels way too early right now though. Executing the plan is so much harder than making the plan.
@GÎR฿Z: So true
@skponchain: SOL Alts moving slowly too -- v. interesting times after ATH breaks
@GÎR฿Z: SOL making a run for it
@FÎRÎNC: