got rekt. leverage was a bad idea. there's a little left but majority of nw gone. $10k soon? I feel fine, this is character test and I'm passing. have decent amount outside crypto. hope everybody is ok, you'll all make it through and be in good places later this year and beyond.
was down >75% this am and still down >65%. misfortunes are great opportunities to behave well and appreciate frens/wives/girlfrens/doges. you're all gonna make it back this year and so am I. much love.
@anildelphi truly believe that <10% of defi users are "under-levered" enough to not worry about fast 20-25% dips. Can this be calcd on-chain? I guess positive explanation would be: everybody has a cash reserve and wants to btmfd neat the bottom... But that's obviously false.
13/ 15k ETH is fud
- 25k at least
- 17-18' micro-structure was inefficient: poor liquidity but now incredible volumes i.e. binance > chinese stock market vol
- Many to few: wealther few accumulating ETH from many vs in other coins, few try dump on many
= shows quality of asset
dips are gifts from mr market transferring wealth from overlevered apes to prudent slightly less degen apes. if this dip and others didn't help you end up with > $eth + defi in 6 months, then obviously change your bula market investing/trading strategy to one that allows btmfd.
dumb af don't do this, idgaf he's worth $2m, doubt he will be next year, just buy $eth, 2x levg if yr a degen.
"He maxed out his credit cards, borrowed money using Robinhood’s margin trading feature and spent everything he had on the digital currency — investing about $250,000."
love this lede
"Last February, when Glauber Contessoto decided to invest his life savings in Dogecoin, his friends had concerns."
(not a $doge buy rec! never have and prob never will myself)
https://t.co/hSDZy7hkKw
$UNI $MKR $YFI price action suggests that defi market is actually pretty efficient over ~6 months. If you do good work on fundamentals, you will be rewarded with relative outperformance, just have to be a tiny bit patient. (stonks can take 2 years to correctly rerate) $SUSHI too.
have said this many times last few months and market keeps proving me temporarily wrong but $CREAM is ridiculously undervalued and by the far the most likely defi midcap to 10x from here this year.