It's the Year of Cryptocurrencies: A Few Reasons Why

in LeoFinance2 months ago


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With #Bitcoin's meteoric rise to new all time highs, the start of the year of cryptocurrencies has been marked. My personal favorite #Ethereum is also touching $1800, which is super exciting. We've been waiting since the start of the bear-market in 2017. And man was it a long wait. But the patience will pay of. All signs point in that direction. And once that happens, those of us that pulled through all the hard times and the anxiety of resisting FOMO and ignoring FUD will be richly rewarded.

The world of decentralized finance is just over 10 years old, about 12 to be a little more precise. To those that are interacting with this world daily, it may seem like a long time, but zoomed out from the bigger picture, we are truly just at the beginning.

Let's take a look at a few reasons why this is, and why we should be more than hopeful. In fact, we should be self assured.

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Billionaires Shilling and Buying it

We've recently seen the power of a simple tweet yet again when it resonates from an influential financial big doge in the form of Elon Musk simply tweeting about Dogecoin and increasing the value almost instantly. There's no doubt that Musk and more like him are investing in crypto themselves. Wall street is also making moves it seems. With all this big money flowing in, the marketcap of the whole crypto environment will increase pushing up everything as a whole. So as long as you are invested in a stable promising decentralized project and have a bit of patience, you should be good. Hold tight and only sell in profit.

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Diem (Facebook Libra) is coming

The launch of Facebook crypto stable coin Diem has been rumored to be at the start of this year. After going through many trials, tribulation and even a rebranding of Libra to Diem in December, Facebook started the Diem Association. Hate Facebook as much as you want. I know I do, even though I'm still on it, but they are making big moves with this. And with a user base of whatever billions they are bound to reach the mainstream average users and introduce them to the decentralized wonderland. Mainstream adoption is a big deal. And if Facebook starts many are bound to follow to not miss out on their piece of the pie. And backing from partners like Coinbase helps as well.

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Big Projects doing Stuff

A lot of projects have started making their moves. One I know of is Cardano that has had staking out for a while now and is moving fast over their roadmap. #Hive is growing in userbase as we speak and new users are engaging every week. All the sub-projects on the Hive blockchain and the tribes are thriving in terms of making connections, learning and earning. #Leo and LeoFinance are a big part of this. With LeoFinance working on a microblogging solution and surely moving towards its own chain, this community will play an important role in bridging the mainstream social media users towards the decentralized ones. Of course that also all depends on us as individuals and the effort we put into our united Hive community.

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There are many more ways to deal with this psychological phenomenon. So.. how do you deal with FOMO?


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Might be a millionaire before the end of the year if I am not careful, you know. 🤭

Exciting times for the crypto community. The beautiful thing is that it is still not too late. New entrants into the market can still make a profit if they invest in the right place because there are still many unvalued projects.

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Lol, if we continue the path we are on, it's almost inevitable.
What kind of unvalued projects are you looking at right now? I'm always on the lookout for new ones.

!ENGAGE 25

To be honest I was indifferent about this whole bull run. My plan this year is to get my necessary documentation to migrate. However, I am looking at $rune and $uni. I will get a couple. I know you like $eth and I know they would do large numbers. I am not emotionally motivated to join in. I don't like their blockchain. Too expensive to transact

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True, the transaction costs are absurd. And now there are many other dapp development platforms that rival ETH.

Thanks for the recommendations. :)

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