Crypto Market Full Collapse
055: How to navigate god dumps, regulation, and uncertainty
Hi guys and gals. Max Pain this weekend. You’re probably wondering WTF happened to crypto overnight. Dive in to find out.
The last 72 hours in crypto has been emblematic of bear markets in previous years. Absolutely unrelenting down only selling and red candles putting even the best positioned longs partially underwater, including myself. While my Bitcoin and Ethereum entries are still in the money, they likely won’t be for long. If you’re anything like me you are unsure what to do next. That’s why it’s important to review the basics, stick to a consistent strategy during bear markets and make sure you avoid risky/scam assets. It’s essential.
On top of that Celsius, a centralized exchange allowing investors to lend just essentially pulled a LUNA Ponzi 2.0 and is stopping withdrawals ( I know several people utilizing Celsius and expect some texts later today when they wake up). The site states that some assets could technically be unrecoverable in the event Celsius is impacted by market conditions and other circumstances beyond their control. Yield isn’t riskless and centralized exchanges are not remotely as safe as cold storage. GET YOUR CRYPTO OFF EXCHANGES. I don’t know how many times this needs to be repeated before people get it (Cold Storage/Wallet Recs in this article).
GET A COLD STORAGE WALLET HERE
No. More. Excuses. Don’t. Be. An. Idiot.
Today I am going to walk you through my current approach to crypto entirely. I have given my background in Arb Letter several times, but it bears repeating given the viciousness of this trend and the unique factors involved.
I got involved in crypto in 2017, and have had some awesome long term entry levels on the assets I consider must have for the space (I am close to being negative on them despite the entries). That being said I also know what a bear market feels like and it’s awful. Sucks all the fun and a lot of the enjoyment out of the space. However, if you’re smart bear markets can make you enormously wealthy.
Through building the Arbitrage Andy brand, I also have access to many resources and figures in the crypto space who are much more experienced and qualified to speak on the topic then I. But, I know enough to be helpful and can likely give you some good pointers to help you preserve capital, make some gains, and avoid scams.
Given the market is getting pummeled by macro forces alongside traditional finance markets, I thought this would be a good time to break down my exact approach and lift the kimono on where markets stand, what I think is going to happen, and how you can best position yourself:
a.) if you are down bad right now or currently invested
b.) if you want to get exposure (great time to enter with long term view)
If you’re already a paid sub feel free to skip this next section, but we keep getting questions so I want to lay out what exactly a paid subscription gets you and where we are likely moving with paid vs. free.
Free subscribers get:
Once a week public posts with high level analysis/commentary
Paid Subscribers get:
Subscriber-only posts each Monday
Access all Post Archives (read over 55+ articles at your leisure)
Deep dives, interviews, and focus pieces
Ability to comment on all posts
Based on the continued reception to paid, we may shift to two paid posts in the future with one light update per week for free subscribers. Summarizing and sourcing this information isn’t free. With it, you have an edge over most others and you’re joining the company of hedge fund analysts, investment bankers, crypto lords, tech professionals, and many other folks looking to get the raw truth about markets, global news, and current events.
If spending $5.00 a month to make sure you receive only high quality information, while ensuring you’re in the know is too much. No problem.
For everyone else.
I will cover 4 main topics today for paid subscribers:
Intro on the dump
Bitcoin
Ethereum
Chainlink
Institutional Activity
My Conclusions (what I think happens next)
If you guys are looking for a reliable and transparent source during these shitty times, highly suggest you consider subscribing. I am in the trenches with you.
With that let’s get into what is going on.