Now that we have seen a good amount of the shake out from failed lending platforms, and just about everyone accepting that the bull market is over- lets do a post mortem or AAR.
Dear everyone who just lost your ass on crypto, here some hard truths and things to think about for next time…
If this is your first cycle, don’t worry most people will behave the exact same every single time
There WILL be another cycle- there always is
Expect this next cycle to be even bigger than what you just saw
Most people will once again NOT sell the top, but bleed out at the bottom
The scammers and losers that are still around will be the next cycles super stars, so you better remember/block/take notes now so you don’t fall for them again next time
Every cycle it gets more difficult to get your money out of crypto- if you need to
If you don’t have any liquidity left now to but fresh coin, you will probably spontaneously buy the top again next cycle
History rhymes, there will be parts of what you just experienced that will happen again
If you noticed anyone who was consistent during this whole cycle, you should probably pay attention to them more because its safe to assume they will respond similarly next cycle and that is a solid base to get information from.
How did you react during this selloff? (emotionally/physically)
Are you happy with the result of said actions?
What will you do differently next time and what actions/habits can you work on now to prepare/train for that?
The bull run this last time was driven by lending on your bitcoin (aka bitconnect 2.0) and then DEFI/NFTs pushed up markets during the 2nd and 3rd phases of the cycle creating the blow off top (my opinion).
A question you should be asking yourself now is, what will drive the next cycle?
It’s almost guaranteed that CBDC roll out and new regulation will be part of this next cycle, and just like VCs flocked in groves to these dogsht crypto startups in the last cycle, think ahead to what will get them excited next cycle?
I hope the market will fall back into fundamentals and technicals here at some point but no guarantees. Expect to see the next iteration of utility/value being pushed, maybe we will see more banker style investment instruments take off- like CDs, high yielding tools etc- not sure personally.
Feel like I missed something? Let me know in the comments
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wow I actually had to print this one out, because I will have to come back to these answers over multiple weeks and into Aug-Sep as well. Im sure my emotions adn perspective will change in a few months again