Forex spectrum (indicator) - is it a SCAM or LEGIT?
    It is 100% effective, Start making money today!!!!

Crypto Crash? I’m Tired …

… of the whole pump, dump, pump, dump cycle.

Seriously, can’t we just get to the moon straight?!

There is a good reason why I didn’t write much about crypto even as crypto began its crazy run in late 2020 – because I don’t have to deal with people when things like this happened.

I only did two of these posts, it seems. Neither talked about what I bought or sold.

See my previous posts and those two below if you’re interested.

No points for guessing why I was still writing my review about Syfe Cash+ just a few days ago when we can have double and triple digits easily in crypto.

Holy trinity

Like what I have mentioned in the February blog post, it looks like the tanks i.e. BTC have once again helped to soak up the damage in the worst of a dip or crash.

How much has “tanks” i.e. Bitcoin gone down with respect to the crypto market in general?

Did your “damage dealers” altcoins moonshots get crushed? I suppose this is a major boss fight we’re in the middle of, and it looks like our damage dealers are currently wiping the floor.

“Healers” will continue to dole out cash-flow, albeit lesser, as flight to safety takes place and yield is gradually compressed.

Of dog and meme coins

Dog coins, for goodness sake. Not to say that all of them as useless, there are in fact (few) legit ones.

UmbrageCoin takes the cake, obviously due to its reference to our local context. People buying it at $20 is simply spectacular.

Case study – I picked up a memecoin, Safermoon, late and still, it promptly 10x. Even after getting rid of a big chunk, whatever’s left (a few million tokens) after the dual massive crashes are still worth more than my initial investment.

What gives?

Following the crowd

It was the month of April. Increasingly, it looks like more people are continuing to pile in more money.

I continued to take some of mine out (see tweet below) but most didn’t take me seriously.

From my private chats with some folks, it was understandable – BTC and ETH were making all-time highs and people were clamoring for altcoins seasons as they farmed a ridiculous amount of yield.

Not gonna lie – I did, too.

And again, I kept taking money out. Just one of the actions I took.

And then, there are more in stablecoins and equivalent still in the crypto universe.

Right moves or not, nobody knows. Definitely one I’m happy with in hindsight.

LPs no more .. ?

March and April were exceptional months for liquidity mining and it reflected in my five-figure alternative income.

I guess the series of events earlier this month spooked me enough to shift a big part of it into lower-yielding, safer pools and options (such as BlockFi [$10], Hodlnaut [$20] and Celsius [$40]).

I have mentioned in Discord that whatever LP positions I have, most are ones that I’m happy to hold on for a longer term.

So, crash or not, I’m sticking with them.

We will all look back at 2021 in the future with plenty of stories to tell. And guess what?

It is OK (haha) if there is a subsequent market pump. Less profit is still profit!

Truth and honesty

The truth is, when it comes to crypto, people are hardly honest or truthful with their real positions.

People urging you to buy Bitcoin at US$60,000 and Ethereum at US$4,000? Do you even know what price they got in?

These transactions I made in 2017 and 2018? That could be you.

Provided that you have figured out a game plan and is able to stick to it.

IYKYK – screenshots are just screenshots

Not saying any particular project is good or bad, but we’ll all have to manage our risk profile and acceptable time horizon in a sensible manner.

What others are saying (or doing?)

Curious about what others are saying and doing? Here’s a few prominent bloggers in SG –

Anything to do with crypto, take everything you see with a huge pinch of salt, alright?

Stay safe, and manage your risks.

Ending thoughts

Doctor Doom : Is that it? Based on the last two Bitcoin all-time-highs (ATHs) in 2013 and 2017, they promptly did a 85% retrace over the course of a year. We’re looking at BTC $10,000 if you love patterns.

Doctor Hope : Or maybe the market is on its last legs? We’ll hit a year-end ATH before starting the 85% “dip”. Nobody knows.

To borrow from Ray Dalio’s “Economic Principles” chart (just the pattern, ignore the words), markets are rarely predictable in the short-term although the trend in the long-term tends to be upwards.

Understanding Inflation in Crypto Networks | by Cassidy | BlockChannel |  Medium

If crypto’s volatility isn’t for you, there are always plenty of other options such as global indexes, REITs and cash management solutions.

Want to chat? Hit me up in the various channels below. (scroll down)

If you have made it this far into this post and found it helpful or informative, consider subscribing!

Hitting the Like and Share button (floating at the bottom-right corner) will help my content to reach out to more people who would benefit from it!

Blog news & stuff

Recently, I created free eBooks for you – do check them out here!

Sure Read Source

Add comment

Leave a Reply

Follow us

Don't be shy, get in touch. We love meeting interesting people and making new friends.

Most popular

Most discussed