Little did I know when I took this photo of an old vault down in Louisville Kentucky on our spring break trip last year, that it would come in so handy for posts like this. No doubt you have already heard that it is 2024. Likewise, I'm sure you have already read ever growing list of posts about what people intend to do this year.
While those "goal" posts may seem repetitive, we need to remember that they definitely serve a purpose. It's important to get your plans written down somewhere that you can be held accountable. Writing a post about your goals is a living reminder of what you promised the chain. The good news is, if you fall short, no one is waiting to rake you over the coals for it.
I was talking with someone on Discord the other day as I often do and we were taking guesses at what the next big thing might be in crypto. Of course the ETFs are potentially on the way, but in past years we have had big concepts like NFTs and DeFi pushing the bull forward. What will it be this year?
If I had to guess personally, I think it is going to have something to do with staking. That seems to be the big thing that the SEC was targeting for a while there and now it is under even more scrutiny after the LUNA and FTX thing. I have zero experience to base this on, but I wouldn't be shocked if we see some crazy interest rates being offered on staked tokens. Thankfully, HBD has been covering us already for a while now.
That's likely where I will be vaulting up any of my gains.
Speaking of gains, @edicted wrote a post the other day talking about things coming in threes. I'd like to take that same idea in a different direction.
The rule of thirds
If you are into photography at all, you have probably heard of "the rule of thirds". It basically the idea that you put the subject of your composition in the left or right third of the photo instead of right in the center which is probably your first instinct.
My rule of thirds for crypto is a bit different. I have some tokens that I have been stacking for a while now. Last bull cycle I made the mistake of not taking gains like I should have and I ended up with a bag of tokens worth far less than they had been.
This time I have already started setting some soft targets for when I want to sell. Knowing that those soft targets likely won't be the ATH, I also want to leave myself some headroom to take further gains.
For that reason, I plan on splitting many of my token bags into three parts. The first third is what I will sell when I hit that soft target. The second third is what I will sell hopefully near the new ATH. Finally, the last third is what I will hold in case I need them for something else.
MATIC is a perfect example of that. I have heard several bits of speculation that gas tokens could be a good sector to be invested in for the next bull cycle. So lets look at MATIC. Let's pretend I have something like 1500 tokens.
I think I purchased most of them at the sub $1 price point.
My strategy might look something like this:
When/if MATIC hits $5 per token (which is around 5x the ATH and not unbelievable), I sell 500 of the tokens. Let's say things go really crazy like people have been thinking they might come the end of 2024 and 2025. MATIC goes up to $10 or $15 per token, so I sell another 500 of them. Finally, I am left with that final 500 to pay gas fees for other tokens I might need to move on the Polygon blockchain.
Of course this is just my strategy, I encourage all of your to do your own research and come up with something that works for you, but this plan or at least a loose version of it is what I plan on doing.
MATIC was just one example. I have similar price points for tokens such as TLM, WAX, WNCG, CUB, CHEX, and COTI. The hope is by the time we reach the end of the bull cycle I will have some decent bags ready to buy in during the next bear. As I said, that was my big mistake last time. I took gains, but I didn't leave funds ready for the bear.
Of course Hive fits into that picture as well. I have already started to set aside some Hive to keep liquid so when it finally pumps, I can move it into HBD. Then I will just keep it there and earn whatever the current interest rate is until the next bear when I start moving it back into HIVE.
I still want to participate in HPUD though, so I powered up 150 Hive today as you will see below:
That's my plan for 2024 and 2025. I know it still seems like it is a long way away, but I think a lot of us are shocked we are already looking at the first day of 2024. This year is going
to be crazy. That is one thing I am for certain about. With ETFs being dropped, the halving, and the US Presidential election, there is a lot of space for things to go off the rails. Both in good ways and bad ways.
Many people love that quote by Mike Tyson that goes:
"Everyone has a plan until they get punched in the mouth.”
Which is true, but I still think you need to have a plan. Living fast and loose is all well and good, but for something as important as the possibility of generational wealth, don't you at least want to have a rough outline of a plan?
I would!
And I do!
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