Another crypto bull run

I’ve now been part of two cycles now so it’s been two big bull runs followed by two crypto winters. Seems like we’re starting another cycle here with Bitcoin over $60k and ETH approaching $3.5k.

I bought my first Bitcoin and ETH in December of 2017 during the first bull run. The price was $17,235.73 at the time. I had really no idea what I was doing but wanted to participate. I promptly lost it all as the crypto winter began.

Fast forward a year and half later to 2019. We were doing a lot with Coinbase at the time and I had a feeling that things were setting themselves up for another run. I ended up buying a decent amount of Bitcoin at $5,000 and some more during the runup. I also bought some ETH. Things ended up working out well of course this time around.

I was able to sell a good amount in the last bull run and made a nice gain. I also took some of the winnings and doubled down into some projects. Some of those worked out, and some did not.

As I sit here today, I still have not bought any new crypto in almost 3 years. I still hold a good amount of Bitcoin, ETH, Arbritum, some smaller tokens, and still hold onto to a few NFTs. I plan to continue to do just that… nothing but hold.

While I do believe in the potential and future growth of crypto, my stance is that the majority of the big gains are likely gone at this point. Putting more money in and hoping for another 10x situation in the short-term is a foolish bet. I like gambling as much as the next person, but at this point, I don’t see gambling in Bitcoin or ETH as the appropriate payouts.

Rather, I’m treating crypto as a long-term hold and a percentage of my balance sheet just like any other stocks. It is a bit outsized at about 10% of my balance sheet right now due to growth and I’d like to keep it at about 10% or less going forward.