🎃 Happy Up-tober! 🎃

We take a break from our regular scheduled programing to celebrate the much awaited “Uptober” pump. Let’s look at crypto prices over the last 24 hours.

👀 You Won’t Believe it Until You See It

For those of you who are new to the fascinating realm of cryptocurrencies, you may have come across terms like 'bull market' and 'bear market.’ Yesterday’s crypto pump has many talking about bear market being over and the bull market beginning.

Cryptocurrencies are, by nature, much more volatile than traditional assets, like stocks and bonds. The soaring ascents and dramatic declines in their value make for a thrilling rollercoaster ride unlike anything investors have experienced before. When cryptocurrencies surge in value, they shoot skyward with blistering speed. But, on the flip side, when they plummet, the descent can be equally fast and steep. It’s hard to understand until you’ve experienced it yourself.

This unpredictable trajectory occurs in cycles. Over the last couple of years, we've seen a prolonged fall in the value of many digital currencies, making it a challenging time for the crypto community. However, price movements have stirred speculation and hope among enthusiasts that a new bull market might be just around the corner.

📈 Yesterday’s Crypto Price Movements 📈

 🪙 Bitcoin

Historically, Bitcoin, due to its pioneering status and market capitalization, typically serves as the leading edge in initiating a bull run in the crypto universe. It's often the case that when Bitcoin surges, it lights the kindling of an ensuing bull market.

Yesterday, Bitcoin smashed through it’s yearly highs and broke $35,000, with an increase of over 17%!

🪙 Altcoins

Altcoins generally underperfom Bitcoin in the beginning of a bull market - but of course, there are outliers that rip past bitcoin. This is in part due to their size - smaller assets need less capital infusion to increase in price.

Bitcoin’s market cap is around ~$650 billion, which means it needs a net positive of ~$650b worth of buys vs sells to double in price.

Many altcoins are smaller. For example one with a $50 million market cap would only need $50 million of net buys vs. sells to double in price.

Here are some of the best performing altcoins over the past 24 hours:

Mina Protocol (MINA)

Mina Protocol is up a whopping 81.6% in the last 24 hours. Yes, you read that right, Mina holders are feasting right now. I don’t hold any, but good for them.

Power Ledger (POWR)

Power Ledger pens themselves as “The operating system for the new energy markets.” The POWR coin is up almost 25% in the last 24 hours, and 107% in the last 7 days. Incredible.

Juno Network (JUNO)

Juno is a Cosmos blockchain that had a huge fall from grace. Nevertheless, its up almost 28% today.

Neta (NETA)

Neta is a tiny blockchain project in the cosmos, tied to Juno, that also had a large fall from grace. It’s up almost 28% today.

Funny thing with NETA - It’s entire supply was airdropped (given away) to the Juno community. If you qualified, you were gifted anywhere from .2-11.2 NETA. Qualifications were staking juno and voting on proposals.

At the time of the airdrop, one NETA was worth over $1,000. This means airdrop participants got over $10,000 in USD for staking a nominal amount of $juno and voting on a few proposals.

📈 What You'll Experience in a Bull Market 📈 

Indeed, if you are positioned properly and get lucky enough to hold the right coins, bull markets can be mind-blowing. Your portfolio can inflate surprisingly, sometimes even exponentially, seemingly overnight.

The Highs:

The adrenaline rush in a bull market is a unique experience. Your devices will buzz with continuous price alerts and potential breaking news. Your investment portfolio might fill you with a sense of satisfaction and euphoria, as you see the percentage swings turn green and the numbers climb higher.

Each day ushers in fresh frontiers and newfound optimism. Watching your holdings multiply could feel like an exciting game of chance, tempting you to invest even more. The robust positive sentiment in the market, coupled with continuous optimistic projections, can be truly captivating.

Caution amidst the Joyride:

But it's not all sunshine and rainbows. Bull markets can also be stressful, particularly for the uninitiated. Price rallies are paired with the pressure to seize every potential opportunity. The exhilaration of seeing your investments grow can cloud your judgment, making it crucial to maintain a cool head to avoid making impetuous decisions based on market hype.

Moreover, there's the prospect of sharp price retractions that come without warning amidst the steady climb. These can temporarily dampen the euphoria, becoming gut-check moments that test your resilience and long-term investment strategy.

A Grounded Conclusion:

These extreme highs and lows can make for an exciting run, but it's vital to keep a level head. While it's easy to get swept up in the bull market wave, it is equally important not to succumb to FOMO and to always have an exit strategy in place. A successful blockchain investor understands that taking profits at strategic points is as much a part of investment strategy as buying the right coin at the right time.

Remember, markets are cyclical. In times of exponential growth, make sure to secure some profits along the way. It's always good to celebrate the green, but don't let it cloud your judgment and strategic planning. Be prepared, and stay informed.

That’s it for today.

Thank you for subscribing to Make Crypto Simple 🌐🔗

Chris Schawel