The boring bit
It's where the opportunity is
Good Sunday, one and all.
This week has been the first time in a while I’ve started to see glimpses of time-based capitulation.
In most Discords and group chats I’m in, the mood is sombre.
It really feels like the general consensus has shifted from "it’s just a matter of time until the next bull run" to "are we really sure we will ever get another bull run?"
Messages are more sparse, tweets get fewer views, and basically, no one reads this blog.
Great!
And I genuinely mean great!
“The people who don’t make it, are the people who lose interest between bull markets”
As Cobie so eloquently put during his Up Only rant, the biggest opportunity exists in the boring bit.
https://twitter.com/VentureCoinist/status/1662514641233166337
^ Make sure to watch this video.
It’s when the moonboys and marketers have disappeared. It’s when everyone thinks crypto is a scam. It's when you send a tweet, and it gets three views. It’s when the Cryptopunk pfps go back to being guys in suits. It’s when you join a project Discord, and the last message was from the community manager two days ago.
This is the part where those who stay interested get rewarded.
It sounds obvious when you write it down. “you’re supposed to buy low and try to sell high”, but barely anyone does.
Because when prices are low, people are bearish, interest is nonexistant, and it feels like no one will ever want to be involved in crypto again. It feels like it is the riskiest time to buy.
But historically, the opposite has been true.
The least risky time to buy Bitcoin has always been when no one has cared.
When newspapers are calling it a scam.
When your friends laugh at you for ever being involved.
The absolute riskiest time to buy Bitcoin is when everyone thinks it’s the next best thing.
When your friends are calling you up asking what altcoin will make them millions.
When random people at your job are showing you their portfolio trackers.
When Crypto YouTubers are trending.
When non-working games are valued at 50% of Activisions market cap.
When celebrities are forcing the word whitelist to become allowlist so they can morally try to justify making a few million dollars for some badly drawn JPEGs that everyone will forget about three weeks later.
Now, of course, please remember I am an idiot. We could still go way, way down from here, so please don’t take this as any form of financial advice or a recommendation to buy right now.
The only advice I will give here is that now really is the time to try to stay engaged. Do the research. Make connections with the people still here who are still grinding.
Because the work you put in now is the work that will pay off for you in the next bull run.
Oh, and watch the Cobie clip I linked. He’s about a thousand times better at motivating people than I am, so listen to him and ignore me :)
Have a great week!