There’s plenty of chatter about the upcoming Bitcoin halving event in May and the next big bull run that may or may not happen. But if it does, what will happen to the crypto enthusiasts and investors who are already in the market? Will they all morph into deer stuck in headlines, immobilized and transfixed by Bitcoin’s dazzling potential to shatter $20,000 and lick fresh highs? Do they have an exit plan? Do they have any plan?
Dan Gambardello, the founder of blockchain and AI engineering recruiting firm Crypto Capital Venture, says Bitcoin could target a wide spread in the next bull market, all the way up to $150,000. The prediction means BTC, which is currently trading at $9,275, could be on track for tenfold-plus gains, forecasting a positive return for anyone who bought Bitcoin after its last epic bull run in December of 2017 – when it slid all the way down to $3,280 a year later.
But what will holders do? As often as prognosticators discuss the risks of volatile crypto assets, Gambardello is wondering about the massive upside where investors wake up and suddenly find themselves awash in riches, able to purchase the big-ticket items of their dreams.
Says Gambardello,
“Are you ready? What is your plan? Do you have an exit plan if you want to move into USD? If you want to move out of Bitcoin or your cryptocurrencies, and you want to go buy a house, if you want to go buy a car? You have these other financial plans. Instead of just holding crypto forever. I’m realistic. I’m putting it out there. You all know I got into crypto as an investment to make money. It’s still a priority for me, so I’m going to approach it as such and talk about it within that context.
I’m pretty sure a lot of you are here for the same reasons, right. I have goals. Now, with that said, I plan to hold a certain amount of Bitcoin, even through colossal, parabolic gains. But there needs to be some type of approach. Some type of plan.”
Gambardello calls it a “game of crypto” that may or may not play out. He indicates a parabolic chart that shows the world’s leading crypto shooting off into the stratosphere.
“Say Bitcoin does actually do what many are anticipating and we get an all-time high. I don’t know if it’s $50,000, $100,000, $150,000 – we get an all-time high. Are you mentally prepared for that scenario?”
The likelihood of a strong bull market, he argues, will test one’s mental fortitude.
“Realistically, what are you prepared to do?… Mentally, where is your head going to be at? Are you prepared for that if you see such awesome gains in your crypto portfolio?”
If Bitcoin hits a hypothetical new high, he says investors will have to be equally, mentally prepared for the pullbacks: 30%, 40% and beyond.
Ultimately, Gambardello says an investor’s moves throughout a bull run is less about the charts and more about conviction.
“I do not want to be sitting here twiddling my thumbs with absolutely no plan. We need to have a plan. You need to have a plan. And besides having an exit plan, you have to solidify your conviction to stick to it – if Bitcoin does continue up, if Bitcoin does break all-time highs and continue on to new all-time highs. Once again, there’s no guarantee…
But, just as we prepare, just as we anticipate for dips to accumulate, we have to anticipate what we’re going to do in a scenario if Bitcoin does take off. And, I think, the biggest thing – and I can’t stress this enough – it’s a mental thing. It’s 100% mental.”
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image/Shutterstock: connel
