February has been an amazing month. Up until now, it has mostly been a 2 man show with Bitcoin making gains, edging up towards its former ATH and of course SOL ripping higher. However, all that seemed to change in February and the rest of the market started join in the fun.
February looks like it has traditionally been a great month, but who would have thought we would have seen such a huge move up at the beginning of the month and topping out at 64k.
I was reminded today by someone who bought a whole Bitcoin back in 2016 when it was around $400, how those gains have compounded over time. Just over 7 years later, that $400 is nearly a 200x which is pretty impressive. Is Bitcoin still worth buying now at over $60k? Will it have such a return in 7 years time? The law of diminishing returns says no, but probably the returns will still be good.
Over 2 years ago now, as I was thinking about the future bull run, I had some ideas to take some profits once Bitcoin hit 67k, but looking at the market, that doesn't seem the right thing to do. However, it would also be pretty impossible to know where the top is from this cycle. The hype train seems to be picking up steam and it is easy to get complacent and think you are a genius if one of your bags pumps like mad.
Even my CRO bag is doing great and I am starting to feel like a genius for being just -20% til I'm in profit again! Go CRO go!
However, it is much more enjoyable seeing many more green days compared to those long dark bear market months. The strange thing is that Bitcoin is pumping before the halving and we didn't even get a fed pivot yet and interest rates are still pretty high. What is happening this cycle?
It was looking like the bull run was skipping past Hive and the token was in the doldrums, but it seems today to be showing more signs of life and approaching a crucial resistance level. The bull run is coming to Hive. Is it time to celebrate and expect more people to come back after their bear market haitus?
I certainly hope so, I like to have my Hive bag pumped. One thing is for sure, the excitement of everyone is building, especially on Twitter and the price targets are climbing ever higher, not only that, the bitcoin engagement farming is at fever pitch. However, until we take profits, we don't have any.
We still have some time to go for this bull run yet, but once your bags are pumped, do you have some plans to take profits? or do we ride this bull market back down again. Yeeehaaa!
Thanks for reading.
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