Stick Around.
Crypto just had its Lehman moment. It’s painful and frustrating. Many people will take long breaks or leave. Let me explain why you shouldn’t.
Few people know this, but I had to leave Crypto Briefing at the beginning of 2020 because the crypto space was almost abandoned. The company had to contract to survive, so I had to go.
I took this as an opportunity to pursue other personal interests. I still had BTC but didn’t actively watch the markets for a while. By the time of DeFi summer of 2020, I was utterly clueless about what was happening. Just six months was enough for me to lose track of things.
ETH was growing fast while I was trying to catch up and dollar-cost average into it. I missed many opportunities and didn’t know how to act when I saw good opportunities. When I got comfortable with crypto again, the prices were already significantly elevated.
That was my first-ever crypto bull market, and the lesson I learned was: you need to stick around. I didn’t sell my crypto even during the March 2020 COVID-induced massacre, so I followed Rule #1. I wasn’t taken out of the game, but I wasn’t fully in the game either.
The FTX downfall might cause tailwinds that won’t surface immediately. This event has already damaged the public perception of crypto, and tailwind events will only exacerbate negativity. Regardless of the tailwind events, though, we’re going to get apathy on the market for a while.
You may feel disappointed and tired, and I feel the same sometimes. But I learned my lesson, and I will stick around. I hope you learn from my mistake and don’t leave the market when the noise comes down; finding promising projects early on will be easier.
SIMETRI Portfolio – Aptos’s Elephant in the Room
Disclosure: The author of this newsletter holds ETH. Crypto Briefing and members of the research team hold some of the Pick of the Month coins mentioned in the table above. Read our trading policy to see how SIMETRI protects its members against insider trading.
