The existing bear market has generated many disappointments among investors. Many people were hoping for more Bitcoin price gains and a longer-lasting bull market. But several external factors caused Bitcoin and other cryptocurrencies to fall much faster than expected. But now there is a possibility that with the right steps you can become a cryptocurrency millionaire by 2025. In this article, we discuss 3 steps you could follow, and with a lot of investment and luck, you can become a cryptocurrency millionaire in 2025.
How have cryptocurrency prices moved in recent months?
Bitcoin and other cryptocurrency prices have dropped dramatically in recent months. The bear market already began in August 2024. Before that time, Bitcoin touched its new all-time high of $73,750.07 on Mar 14, 2024. Other cryptocurrencies like Ethereum also got closer to their all-time highs that month.
Since, we have witnessed declining prices. From March 2024 to September 2024, Bitcoin lost almost 2.5% of its value while Ethereum lost more than 27%. We can now clearly speak of a bear market in cryptocurrencies. But how can you become a millionaire with cryptocurrencies in this environment?
Is it possible to become a millionaire with cryptocurrencies in 2024?
In the past, many early investors who invested wisely and sold at the right time are now millionaires. But is this still possible in 2024?
Many investors believe that it is now too late to become a millionaire just by investing in cryptocurrencies. Others believe that one needs to be extremely fortunate and well-connected to invest in unexplored projects that will grow in value massively over the coming months and years. But even with an investment in “normal” cryptocurrencies, becoming a millionaire is still possible.
What do you need to become a cryptocurrency millionaire?
Firstly, we must point out that becoming a cryptocurrency millionaire in the following years is by no means straightforward. Thus, it is necessary to understand some requirements for you to be able to achieve this:
What steps do you need to take to become a cryptocurrency millionaire by 2025?
The following 3 steps could be the basics for you to have a chance to become a cryptocurrency millionaire in the years to come. You still need some capital to invest, extensive knowledge, a certain intuition for the market, and a bit of luck.
DO NOT sell your cryptocurrencies in the bear market
At the moment, cryptocurrency prices have gained a temporary low. Many investors are still considering whether to sell their coins. Under no circumstances should you sell in this market situation. Prices have already dropped so much that further declines will not be strong enough to justify a sale.
If you had sold when the price started falling, you would have been losing for the moment, but you could now reinvest with the freed-up capital. Now, this makes no sense. Keep your current coins. They could be worth it many times over again in 1-2 years.
Start investing regularly in the most popular cryptocurrencies NOW!
We are at a point right now where cryptocurrency prices have hit their bottom. A further drop in prices over the coming months cannot be ruled out. But the massive price drop after the peak of the bull market is behind us.
This means that cryptocurrencies are extremely cheap right now. Now you have the chance to regularly accumulate cryptocurrencies that will help you become a millionaire in a few years. Take a sufficient (at least three-digit) amount every month and invest in the “big” cryptocurrencies. Good coins to invest in are: Bitcoin and Ethereum.
These coins have now established themselves over several years, have an extremely good foundation, have a demonstrated use (except Dogecoin), and could also survive the coming bear market well.
Sell ON TIME in the next bull market!
To become a millionaire with cryptocurrencies, you have to take your profits in good time before the prices tumble again. To do this, you have to sell your coins at the right time. Many investors missed this moment last year, for example. Very few investors expected Bitcoin to reach its first all-time high back November at $68,000, and back now in March.
To set the sale, you need intensive background knowledge, good intuition, and a bit of luck. If you bring all this with you, you now have a chance to make a huge profit. Repeat the process and buy cheap in the next bear market!
By 2025 we could witness 2 more bull markets if bitcoin’s cycles don’t change. This theoretically gives you the chance to grow your capital twice by a factor of 10. So by 2025 you could increase your capital with cryptocurrencies by a factor of 100 and become a millionaire. That means you “only” have to invest 10,000 USD over the next two years. This could be realistic for many readers.
How should you invest in Bitcoin and other cryptocurrencies?
To invest in Bitcoin and other cryptocurrencies now, use the best crypto exchanges for investment: You can even create your own investment plans to invest monthly in cryptocurrencies on your way to becoming a millionaire.
