Lessons from last cycle

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.

  1. Take profit consistently especially when coins start to go vertical, otherwise someone else will take it for you
  2. 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
  3. 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
  4. Don’t chase Defi yields, if the yield sounds too good to be true, you’re probably paying somebody else’s yield
  5. Don’t over diversify and chase every hot coins out there, focus on one or two niches
  6. 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
  7. 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

Good luck!

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Word!!! Thanks mate

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thanks helpful info

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Thanks for this information

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bookmarked :saluting_face:

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This is fantastic

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What exciting times ahead bro

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Great piece of advise I must say. Many of us has made some of these mistakes in the past watching our profits being eroded away without taking actions. After all we are all in this space to better our lives. Thanks for sharing this piece

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I hear you brother

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thanks info bro

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Of all the languages in the world, you chose to speak facts.

GG bro.

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Great information

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