Back in March and April, the media told us all about the kids in their dad’s basement who put their stimulus checks into memecoins and became millionaires. They didn’t write much about the tens of thousands of people who threw in their savings at ATHs, then sold at 40-60% losses in May and June.
But I’ll tell you one thing: there are more of the second type of person than the first. You’re probably not going to be the memecoin millionaire. Please don’t be the FOMO buy high, sell low person either.
Maybe the bull market is back and we will see Bitcoin and Eth and Ada at new ATHs this summer. That’s what I believe, but of course no one knows for sure. If so, I’ll bet we also see memecoins like Doge at new highs, and a ton of news stories about the kid in his dad’s basement holding through the May crash and becoming a 10 millionaire.
Maybe things keep going sideways or even crash harder. But if I’m right and we see a massive run up this summer, it’ll make the first five months of 2021 look meek. This will cause FOMO. Don’t fall for it. Make a plan now for a crazy bull run summer. Stick to it.