Maybe, but March/April was the trade. At some point BTC will reverse some of this, but who knows when. Personally, I expect to remain all in ETH at least until EIP-1559 in July and/or ETH/BTC hits .1-.15. Spoiler
Everybody here be like "omg fak u derp coin is best" and "no fak u herp coin is goat" Meanwhile I'm just over here buying and hodling both.
Whatever, crypto sucks. My portfolio hasn’t been this low since…. [checks spreadsheet] …three 1/2 weeks ago.
This is extremely interesting, on pic 2 he directly mentions 30k and 1pm UTC, which is exactly what happened the day after. And regarding the whale they wanted to take out:
I saw this. Two strikes on them now. That’s a pretty big **** up. Enough to turn me off from using it. Locking accounts and threatening users, due to their screw up. No thanks. On the flip side, despite that and a number of centralized exchanges going down today, all major dexes and defi platforms held up fine.
Best post mortem I’ve read so far. This guy is from one of the largest crypto funds, Alameda. His take is that Elon and all the other FUD last week kicked off some natural selling, but the majority of the damage came from liquidation cascades, again, particularly in ETH this time. This would be a better scenario for bullish resumption than if this was an institution led sell-off. I assumed much of the sub 40k move was liq’s, but was worried about what was happening above there driving the selling. But he’s saying the liq cascade began above 40k. Shares some of the trades they made amidst the madness, too.
This a fantastic tip. When things start looking sketchy, go some percentage short. Then use the profits you earned during the selloff to buy the capitulation. You earn on the way down, and also avoid the need to dip buy with fresh capital. Gotta get myself prepared to do this for future selloffs. Been aware that funds do this, but I hadn’t thought it through. I figured they were being conservative and reducing some upside potential to protect their clients from downside, but really, they are increasing overall returns vs. being 100% long if they time it right.
Highly recommend these 2 episodes about the last few days and the lead up to them. Only 15 minutes each but covers a lot. One silver lining to these crashes is they offer an opportunity to learn more about crypto market structure and how to better profit off it in the future. https://podcasts.apple.com/us/podca...ypto-bull-market/id1414384043?i=1000522398346 https://podcasts.apple.com/us/podca...s-very-little-to/id1414384043?i=1000522545524
