Brotic @blockchadser - Twitter Profile

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over 1 year ago

I stepped out of crypto today after 7 years in the space. Here’s my story and why I’m quitting. My journey began when I entered the crypto world halfway through a bull market. I joined during the euphoric phase when everything was skyrocketing, but eventually, I lost everything. During the bear market, I bought $ADA at its absolute lowest point for $0.02 and had to wait three years. In those years, I learned how to predict charts and took several investment courses. That resulted in a profit of $190,000 from an initial investment of $3,000. I used half of that to pay off my house—a smart decision since I didn’t have a large mortgage. The remaining amount I reinvested in crypto. During the bear market, I discovered the world of meme coins, where I experienced many highs but also deep lows. I’m someone who speaks their mind, which isn’t always appreciated, particularly in certain cultures. I poured my heart and soul into various communities, but it has led to a loss of $35,000, something I could handle. However, when I expressed criticism, some people accused me of “engagement farming.” That hurt me more than losing money. When I was just trading without emotional involvement, I made profits. After parting ways with the $MONG community, which I still hold dear, I focused on trading again. Now we’re in 2024. In 2023, many old acquaintances began networking, a smart move that turned them into insiders (more on that later). I chose a different path, which went relatively well until I started noticing how different this cycle is. You can see that Bitcoin dominance isn’t dropping, and alt seasons are repeatedly postponed. As a result, established coins rise when #Bitcoin rises and crash hard when Bitcoin falls. Trend-sensitive coins like AI and RWA performed well, but you can see how quickly trends fall apart when there’s bearish news (e.g., new AI tech from China). This isn’t entirely unusual when compared to past cycles, but the Bitcoin dominance and the way altcoins behave are unique this time. This is one of the reasons I’m stepping away, but not the main one. The main reason I’m quitting is that the market has changed so much that it’s no longer predictable. If you look at #pumpfun and the rug pulls happening every minute, as well as blockchain evidence (especially through tools like Bubble Maps) of KOLs and insiders profiting at others' expense, you can see this bubble is bound to burst eventually. Coins covered by CNBC or tweeted by Elon Musk have a lifespan of just 24 hours. They go from $40M to $2M within hours. $Mario coin dropped within hours after a supply burn of 70% , leaving insiders as the only winners. This is no longer predictable. You shouldn’t invest in something you don’t understand. The launch of $TRUMP, by the former U.S. president, is another example. Something like this would be unthinkable in Europe (especially in the Netherlands) due to regulations. While I found it fascinating, it also highlighted the lack of liquidity in the market. You could see almost every coin drop by 20% because everyone wanted to get into the $TRUMP coin. This made me even more uncertain. If one coin can cause this much damage to the market, how safe is my money really? I’ve experienced black swan events and daily 30% drops in established coins, but this felt different. People are now speculating on regulation, which I understand and see as a good reason to be bullish long-term. But the question remains: how long will it take before these regulations are finalized? One year? Two years? **Conclusion:** - Too many rug pulls, with insiders being the primary beneficiaries. - Too many coins to choose from, which spreads liquidity thin. - Retail investors attracted by coins like $TRUMP are left at a loss, creating bearish sentiment. - Crypto feels more like a casino than an investment. I’m moving on with my life. I’ll also focus on completing my psychology degree.

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Brotic

@blockchadser

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