Wednesday, October 26, 2022

Hopes for a bullish season and what steps to take

The last few months in crypto have been a rollercoaster ride for most considering the number of enthusiasts witnessing a bear market for the first time.

When Bitcoin crossed the $60k mark, many had held high, maybe a bit unrealistic hopes that we could finally see the King of Crypto smash the $100k mark.

Sadly, what followed was a gradual drop in prices yet the optimists kept saying it was nothing more than a temporary retrace which will eventually lead to a sharp pump, and probably land us on the moon.

In the second week of May, the market capitalization dropped by close to $1trillion largely fuelled by the Terra implosion. Subsequent months have seen some sort of stability return to the market but the ruins from the damage that had been done remain quite visible till date with the value of many cryptocurrencies still very far under water.

Individual traders are now left to pick up the ruins of what could have been an extraordinary end to the year if only the market crash hadn't happened too soon. One can only imagine the astronomical pump that could have occurred with the price of ETH if The Merge had happened during a bullish season. All hopes that the epoch-making event would spark a positive rally in the market soon faded away as prices have remained stable under $1400.

So what's the hope for the common man on the bloody streets of Crypto? I've had some time to reflect about a different approach to the next bull run and drawn up a couple of promising altcoins which I will be accumulating at every dip in the build-up to 2023. However, apart from stacking up altcoins, I have decided to also become an active participant in sustaining the Web3 economy by investing in the M2 Pro Miner. This is one of MXC's revolutionary efforts towards making crypto mining accessible and open to everyone regardless of your technical background.

I hope this is a very profitable venture at the end, and one that's worth the effort especially with DOT mining coming in Q4, as an addition to BTC and other data tokens already supported.


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