i expect onchain PnLs to get a lot more extreme if this cycle really accelerates
we’ve seen multi-billion dollar onchain assets before, and i expect that ceiling to be tested again
if some of these coins reach that scale, early holders could end up sitting on massive unrealized gains
that makes de-risking and managing large positions a much bigger part of the game than people are pricing in today
i’m treating this cycle on its own terms
previous major BTC bear markets took roughly a year to find their lows and drew down 75%+ from the top
this time, the deepest drawdown so far has been closer to 53%, followed by a much earlier recovery in price
the market structure has changed too, with new ways for institutions and retail to enter crypto and move onchain
memory mapping every move to 2018 or 2022 feels less useful when the setup itself has changed
you do not need anything else other than an internet connection & an iphone to make $1,000,000+ over the next 12 months
tokenization supercycle + 24/7 perps + social trading emerging seriously for the first time as a global metagame is going to give insane opportunities to those terminally online that learn how to trade attention & virality
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i can’t believe he did it… +$1,000,000 from a $2,000 buy on pons
the first buys were around end of july, so this only really took a month, but he held through all the volatility and had his thesis sharp
👏 wow