WAGMI #0

Hopium booster

WAGMI & Hopium booster & background` WAGMI & Hopium booster & poster`
WAGMI & Hopium booster
Category Adoption
person-quote
We’re all gonna make it.

Biography: 

Being a crypto investor is a long, lonely journey that can test the resolve of even the most diamond-handed Bitcoin hodler. During periods of extreme fear, massive price corrections and FUD-inducing headlines, all humans succumb to their emotions. We constantly remind ourselves that it’s never a loss until we close our position. We scoff at the fiat peddlers, believing that one day Bitcoin will reign supreme as the global monetary standard. And we never miss out on an opportunity to dunk on Peter Schiff for giving investment advice despite him missing out on Bitcoin at $1, $10, $100, $1,000, etc.

But those who’ve been in crypto long enough and survived the multiyear bear market between 2018 and 2020 know that this journey isn’t for the faint of heart. There are no guarantees. Nobody has a crystal ball. That “low-cap gem” your favorite influencer shilled a few months ago hasn’t transformed into any monetary gain. The analyst you follow on Twitter couldn’t predict the last 50% decline that erased most of the previous gains.

Luckily, the crypto community is the No. 1 purveyor of fine meme culture. In 2021, crypto hodlers co-opted “WAGMI,” an abbreviation of “We’re all gonna make it,” from 4chan’s fitness board and turned it into a crutch to build confidence and encourage fellow hodlers not to lose hope. WAGMI is a rallying cry to all crypto investors that the best way to endure is to just hold on for dear life.

As it turns out, if you follow that advice, you’ll make it just fine.

WAGMI’s 2021:

WAGMI became a mantra for crypto investors in 2021 as market sentiment oscillated between euphoria and extreme fear. Hodlers used WAGMI to stay focused in the face of stomach-churning anxiety that included: Bitcoin plunging from $64,000 to $29,000 in a matter of months, China issuing a blanket ban on crypto mining, Elon Musk abandoning plans to accept Bitcoin payments for Tesla cars, an all-out attack on Bitcoin from those claiming to back environmental, social and governance standards, $10 billion in lost funds due to DeFi hacks, and a United States infrastructure bill that imposed unreasonable tax reporting requirements on crypto businesses. Was that enough for you, anon? 

For all the negativity surrounding crypto in 2021, not to mention the trillions of dollars in lost paper gains, you’ve gotta hand it to the crypto community for not taking itself too seriously. In addition to being used as a hopium boost, WAGMI was also included in memes depicting crypto investors working at McDonald’s and dreaming about a future where they could drive away in a Lambo.

WAGMI’s 2022: 

Crypto is off to a tepid start in 2022, with market sentiment entrenched in a state of extreme fear since December. Oddly enough, much of that negativity isn’t tied to crypto, per se, but to expectations that the U.S. Federal Reserve will pull the plug on its massive liquidity programs and send risk assets tumbling. And well, then there are the deeply unfortunate events taking place in Eastern Europe.

With on-chain data showing that Bitcoin’s long-term hodlers are not selling, combined with early signs that institutional money is flowing back into the market, WAGMI meme creators should feel optimistic about the future. Several countries are reportedly warming up to crypto, and expectations are high that another Latin American country will recognize Bitcoin as legal tender in the near future. However, don’t dream about your first Lambo just yet. And if you picked up a job at McDonald’s over the past six months, keep making those Happy Meals. We’re definitely gonna make it, but nobody knows how long it’ll take.