I got into crypto in the second half of 2020. The bear market has been absolutely brutal but I’ve hung around and i can now see the end of the tunnel. I’m writing these lessons I took from the last cycle “on paper” as a reminder to myself and hopefully of so use to you.
- Take profit consistently especially when coins start to go vertical, otherwise someone else will take it for you
- Move majority of profit out of crypto or at least into Eth/Btc and don’t rotate into even higher risk plays, otherwise you might as well not take the profit
- Never fall for influencers’ shills of microcaps, you’re the last in the food chain by the time these “gems” make the rounds on YT or Twitter
- Don’t chase Defi yields, if the yield sounds too good to be true, you’re probably paying somebody else’s yield
- Don’t over diversify and chase every hot coins out there, focus on one or two niches
- Blow off top is near when people are flexing their watches and cars on Twitter, calling for $300k btc and friends/relatives asking you how to get into crypto
- Don’t fall in love with your bags, don’t listen to anyone telling you to diamond-hand, don’t listen to people calling for super cycle beyond 2025, I never want to go thru that feeling of seeing my portfolio shrinking by 80-90% again