βππ§ππ£] ππππ ππ π¦π£ πΉππ₯ππ ππ - Crypto Changed & IT Killed ALT Season
How often have I not heard, can I trust this pump?
After so many times, I actually do not care anymore.
We all know that the crypto market is easily manipulated, and that emotions drive prices more than facts.
In the end you just gotta deal with the punches and forget about emotions.
Which is easy if you have nothing to lose.
I am A Loser Baby
That nothing to lose attitude, I had it from the start. When I got into crypto five years ago I planned to get REKT within the first three months.
I did not.
Yes, I am a conservative trader.
I do not do leverage, and I do not connect to shady projects that drain the life out of your wallet.
That helped me survive, at least till now. And it made me rich.
Mainly because I learned a lot about finance, and started to take making money seriously.
It starts with baby steps.
Or rather, it starts with taking steps back making sure you do not lose money.
Kill the Debts
If you want to invest, invest an amount you are willing to lose. Willingness to lose money feels more comfortable if you have money to lose.
Hence kill your debt before you invest.
Debts drain you of money and energy. If you are invested, you need energy and a surplus of money.
Debt and Investments do not go hand in hand.
If you invest money you are not willing to lose, you sure as hell panic sell.
Emotions make you a lousy trader
I never panic sold, yes I took profits in times the market went down and I could have done better holding. But the market is like an ocean, and you need to navigate it with just one goal... reach your destination.
To get to the desired harbor you need a plan, if you have a plan, and you are willing to lose everything.... there is just one more step!
STICK TO TH FΒ΄ing PLAN
No matter how long your journey will take, stick to the mofo plan.
Crypto Casino
A few weeks back I mentioned that crypto is not a get rich quick scheme.
Explaining that yes, you can play the crypto casino and hope you beat the house by investing in a Pump.Trump coin or 50X leverage.
But you win big, you lose bigger, if you donΒ΄t get out and never come back as soon as you made your big buck bang.
If you do not want to Crypto Casino it means hard work, and even more patience.
Oh and this one...
I am sure that, like me many have been grinding through the bear market hoping to come out rich on the other side.
How did that work for you?
For me, I was hoping for a 10X, betting on a 5X and currently sitting a little over 2X on my altcoins.
My BTC did a lot better, for now as itΒ΄s close to that 5X.
The thing is that the game has changed 180 degrees, and I smoked most of my hopium.
NO MO Alt Season
I do not see another ALT season happening, my bet on a last sprint upward in March, which I considered 40% last week, is down to 25%.
[βππ§ππ£] ππππ ππ π¦π£ πΉππ₯ππ ππ - πALT season 40% vs No ALT season 60%π
A crypto summer like 2016, 2017 & 2019 has not been seen for years, but a bad 1st quarter has also not been seen in years.
So all my hopium now sits in a Q2 we have not seen since 2019. That US Shitcoin Reserve might just start making enough waves in April toa actually stir it up.
But the lack of liquidity, the overkill of alts, and the unstable macro climate make me expect that we will see pumps, fewer and spread out, not everything will moon and most will lose money.
ETFs suck up liquidity but do not push the profits into ALTS
TRUMP(dump)Fun does the same, and therefore ALT Season as we knew stands little chance to happen again.
But that doesnΒ΄t mean you lost, you will just not win as much.
What is the REAL risk?
We all know the stories that 90% of all traders lose money and get REKT and that all of you are my exit liquidity, but I was looking for a bit more realistic numbers.
A study by the Bank for International Settlements (BIS) indicates that approximately 75% of Bitcoin investors have incurred losses.
First of all, it says bank, secondly, this is a time-sensitive statement. With BTC still nearish to the ATH very few peeps bought the top.
So be careful, think before you sell.
Talking about selling, LendingTree found that 38% of cryptocurrency holders sold their assets at a loss, while only 28% reported selling for a profit, and 13% broke even.
That is an insight you can work with because we talk about the actual selling, not about a temporary loss of a volatile asset.
My plan was to sell 80% of my ALTS on Bitvao by the 5th of May, currently I am at 34%, so I really need some more coins to pump before May.
I sold my BTC for ALTS too early
I thought I was at the start of an alt season when I sold my $600 on Bitvavo Exchange and swapped them for ALTS.
I was right, we had an alt season moment but it died right then and there. And I have been in profits but no longer.
Results Of A Dumbass Baby Selling His BTC:
LetΒ΄s See:
I sold my 600$ in BTC at an average price of $101K and currently BTC is at $88K so I had hodled it would be $522 now.
But noooo.... I had to swap it for ALTS.
LetΒ΄s see what my swap is worth this week:
- ETH Start $177: last week's worth $112 down 14% = $101
- BEAM Start $125: last week's worth $32 down 18% = $27
- SUI Start $75: last week's worth $43 down 14% = $37
- SOL Start $100: last week's worth $58 is down 0,02% = $58
- Curve Start $57: last week's worth $28 down 11% = $25
Total $248
And I bought back $60 of BTC at a 14% discount (as I did not swap all $600, which I only noticed last week doing the math) so total holding $308, my loss $282 atm.
Thank goodness you made it till the end Pees, Love and I am out of here!
