Yesterdays Gold Rush, Tomorrow’s Land Grab, Today’s CryptoCurrency Market
– Opportunities: By James McFadden –
Throughout history, generation upon generation has had various opportunities to stake their claim to wealth.
In 1884, the California Gold Rush was sparked by the discovery of gold nuggets in the Sacramento Valley and was arguably one of the most significant events to shape American history during the first half of the 19th Century.
Five years later the biggest Land Rush in American history was ignited when the U.S. Government opened up over 2 million acres of unassigned land to an estimated 50K people. Since then and until this very day, land is still one of the most lucrative investments one can make into their future as land never loses its value.
While the stock market in the U.S. opened on May 17, 1792, on Wall Street, it wasn’t really noteworthy until the great crash on October 29, 1929. It was the great crash that woke people up to the opportunities and risks of investing. As such, some of the wealthiest families on the planet today got their start after the crash when they re-invested or entered the market believing the story wasn’t over, and it wasn’t.
That being said, let’s take a look at the recent so-called crash in the cryptocurrency market. Bitcoin was headed “To The Moon”, a popular meme within the crypto community. It topped out at 64,900, give or take, and then fell like a knife, literally cut in half within three months and FUD (Fear, Uncertainty, and Doubt) was the name of the game. But that’s just what this is to a lot of folks, it’s a game, a game to see who the winners and who the losers are going to be.
So, just like the crash of 1929 showed the world just how relevant and vital the stock market was, so too did the recent crash of the cryptocurrency market. And I saw an opportunity, or as they say… a bottom… At least I thought I did.
As a result of the recent crash, I started taking a serious look at this concept and it didn’t take me long to see, this was OUR modern-day gold rush/land grab opportunity to build wealth; I took the leap.
Now I would like to say it’s been all roses ever since but it hasn’t been. In fact, I got in long before what most would consider the recent bottom. I saw the value of my initial investments continue to drop by over 70% but my gut said hold on. Diamond hands they call them in the crypto-verse as opposed to paper hands; more on that later.
So in spite of the continued fall, I did what I learned to do after the last stock market crash in 2008, 2015, and 2018… I picked up more crypto as the price dropped, spread my exposure out by investing into several different tokens, and evened out my overall costs and risk.
About 30 days ago, those decisions started to pay off and that’s what has compelled me to start writing this column.
Moving forward I plan to continue writing about this journey, the opportunities, the risks, and the lessons I’ve learned so far. I am after all #stillanoob!
In my last/first article I alluded to some of these opportunities when I said, “Who knows, maybe we’ll talk about the next Netflix and how you can get in on the ground floor!”
In my next article, coming out tomorrow, we will do just that. As we move forward throughout this journey I’ll share my thoughts and findings, however, please understand… I am not a financial advisor, the content of this article and future articles are for educational purposes only and are my own personal opinions. In order to make the best financial decisions that suit your needs, you must conduct your own research and seek the advice of a licensed financial advisor if necessary. All investments involve some form of risk and there is never any guarantee that you will be successful in making, saving, or investing money. There is no guarantee that you won’t experience loss when investing. Always remember to make smart decisions and do your own research.
That being said, tomorrow we are going to take a look at two companies. One is promoting a traditional concept that has been taken to the next level, the other is an emerging company that has just launched through an IDO (Initial Dex Offering) much like a traditional IPO (Initial Public Offering). If you would like to take a peek at them before I publish my thoughts and findings, you can check both of them out here. Vabble (VAB) and here Axion (AXN).
Until then… Cheers!
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