Bitcoin Breaks $11,000, Alts Are on Their Way, But Do You Have a Plan Yet?

Bitcoin has broken $11,000. I’m sure you’ve heard, it’s all over the news and especially all over CT.

Bitcoin’s meteoric rise from $4,000 in May, 2019 to now being over $11,000 begs the question — when will we see the alt coins pump? Aggroed made a post as well talking about alts and that he expects a rise in the alts (and especially in STEEM) very soon. Check it out.

Regardless of when the alt’s pump, I have had a plan for the pump for years now. It’s kind of funny to think that it’s literally been years since I made this plan because the major crypto rally was 2 YEARS ago! How insane is that? Time flies.

My plan remains the same: hold on to crypto projects that I believe in and help out where I can. Invest based on sound fundamentals rather than FOMO, FUD or whatever else the masses base their wonky decisions on.

That is my plan for investing in crypto, but what is my plan with the bags that crypto will eventually disperse my way? This is the question I pose to you as well. Leave a comment below with your plan.

My Plan in the Coming Altcoin Bull Market

I’m holding a lot of alt coins and especially a lot of STEEM. I don’t think that’s any secret. I believe that STEEM is the MOST undervalued crypto out there by 10 thousand miles.

One day the price of STEEM will catch up to the fundamentals. When that day comes, STEEM will be worth several $… Possibly even into the double digits and in the long-run, triple digits.

Call me crazy if you’d like, but I see STEEM following a similar trajectory as Ethereum. Ethereum had the ICO boom and every time I read about SCOT and Steem-Engine, I think about the “Tribes” boom that Steem could have.

Just think about this for a second — SCT and ENG sold over $100,000 worth of digital miners in this horrifying crypto winter. PAL sold over $40,000 worth of digital miners as well. These are just 3 communities. 3 Tribes that are early to the party.

What happens when this happens 10 times? 20 times? What happens when businesses and communities from across the crypto landscape and across the internet in general catch wind of this? What happens when they realize that Steem Engine, coupled with the Steem blockchain hold the keys to building their own Tribe into a meaningful place for a community?

I see this all happening soon. I see more communities becoming Tribes and launching tokens, digital miners, forked condensers and the whole shebang!

Anyways, I digress. My plan for the meteoric alt coin rise that is around the corner is as follows:

1. Don’t sell my principal STEEM
2. Use the income from STEEM to diversify my portfolio into other income-yielding assets
3. Use the income from those assets to rebuy more crypto if the price ever drops down again
4. Rinse and repeat

It’s pretty simple. I like assets that yield income. STEEM is one of those assets, but it is highly volatile. That means that it’s important to keep the principal STEEM while taking some of the income it generates and diversifying into more stable classes of assets — such as dividend-yielding stocks.

Eventually, the crypto market will cool off again and I’ll be able to complete the circle of investing life and take the income from those stocks and pump it back through into STEEM and other cryptos.

This was my plan in the last bull market and it worked out quite well. I have been buying steadily throughout this crypto winter and I now have over 10x the amount of STEEM (and many other cryptos as well) that I did in the last bull run and I paid far less per “share”.

What is Your Plan for the Bull Market? If You Don’t Have One, Please Go Out and Make One!

Smart investors know when to take a little profit off the table. Smarter investors are able to make a solid plan for doing so. The smartest investors are able to adapt to whatever the changing circumstances and make their plan even better in the moment.

Not financial advice.