18th April
Big dump. It was coming with all the new money coming into the market. Whales licked their lips at the prospect of dumping on retail tourists entering the market as a result of the Coinbase IPO. It was nasty. People are saying, buy the dip, however whales will continue to dump on them until retail gets demoralised, and everybody stops talking about crypto again.
This isn’t a reflection of bearish narratives, but rather, the pure reflection of an opportunity which many in crypto could see coming a few days in advance. As such, it looks as if we’ll continue to dump for a while, until retail capitulates. It’s not a big thing. It’s just part of the cycle, and it’ll pass and become bullish again when retail becomes bearish and starts saying that everything is going to 0, or that the bull market finished early.
Something key about this was that my intuition was telling me, “get out, get out, take some money out”, and I ignored it, because perhaps it was wrong. But here we are, a big dump later, and my intuition came out on top. This is the best thing to listen to.
The question is, what does it say now?
Continue to dump until retail squeals.
~~
It’s humans trading humans. Retail don’t know anything about whales. But whales know a lot about retail. And they are not looking at charts. They are looking into their heads, anticipating how they will think, and then counter-trading that.
~~
Three ways to make money:
Be smarter
Cheat
Be first
~~~
you’re in a race only with yourself. Don’t over-leverage or over-risk. There’s too much opportunity to rush.
two objectives in crypto: 1. survive. 2. Stack sats.
the first should come before the second.
as said already, you’re in a race only with yourself. don’t compare to others, and don’t compare to “what-ifs”.
the reality is now: you have a balance and you have your brain: goal; your balance goes up.
anything else leads to rushing/desperation which leads to blowing your account.
the reality is now: you have a balance, and you have your brain: goal, your balance goes up.
stay safe: take calculated risks, with a plan of action and have fun stacking sats.
