Doing nothing in crypto feels wrong
Good morning/evening
Crypto is strange for me at the moment, for the first time in over 5 years I am not waiting, not waiting for a bull run to take some profits, not waiting for the new narrative and not waiting for news on any of my DePin projects, or new ones. It feels very odd that I am not researching some random ALT coin or project, in fact I am doing very little crypto wise. Why no ALT coin research? Well I do not plan on having many in my next portfolio apart from some of the blue chip ones and as far as the micro caps go, I don't plan on having any. There are a few new DePin projects floating around and I don't plan on having any of those either., not because I have given up on crypto, but because I do like to think I have learnt something over the years. We talk about use case, Helium had a great use case on the IOT side, that's why I invested so much into the miners and ordered them as soon as we could get them in Europe. I had set ups on internet towers and worked hard to get others set up in friends houses but hardly any one used the IOT network. It is the same with WeatherXM, a good use case but nobody is buying the data, so the token has gone from $1 to under 5 cents and is being delisted from 2 exchanges. (I expected this so sold my tokens as soon as I could). I have Wingbits, the team there are the most honest I have found in crypto, they have delayed mainnet and were so up front about it that the OGs had an option to take an airdrop of sorts as a sorry for taking so long, I did not take mine, I will wait and see as the whole set up only cost $50 as I reflashed a Helium Sensecap and had a few antennas I could use. So no more DePin for me means no more DePin research either.
Bitcoin
I have taken profits on some of the Bitcoin, the rest is just HODL savings, I have a buy order in and I will DCA more in when I think the time is right, I may not get the bottom but I will try and be as close as I can! The largest percentage of my next portfolio will be Bitcoin, and although as I said in my last article, Bitcoin is now an institution game and the market makers had a field day, I just do not see a better asset to invest in. Once you have gone down the rabbit hole there is no going back, I mean would you really even consider putting your money in the bank for that 2%. My son cashed out that appalling government trust fund that had been invested for 18 years and made only £114.06 and they had the audacity to ask him why he was cashing out!
ALTs
Most of my s**t coins have been sold and I just have a few bits of random crap that would cost more to sell than to keep it. I was fortunate with most of them as when they doubled I took my initial capital out and left the rest to ride......didn't expect them to ride to -90% well I did but thought there would be an ALT season first lol. I still have some SOL and my STX is still earning some BTC, would like the SOL to go up a bit but still in unrealized profit as my average buy price was $40. I have a couple of tokens earning a little on Aave and most of my stablecoins are there too, not earning a lot but it is something.
Trading
No trades on at the moment, no perps either but I will short a few ALT coins at some point. I keep saying to myself that sometimes with trading it is better to just do nothing but I am not sure if that is because I am relaxed a little to much, I am not checking charts (much), my X feed is still all crypto but as much as I love this space, it can become all consuming.
If your crypto strategy feels exciting all the time you can make mistakes and overtrade, perhaps I have gone to far the other way, but boring could mean
- I'm not overexposed
- I'm not constantly reacting
- I'm not glued to every candle
Crypto has a funny way of making you feel irresponsible if you’re not constantly engaged because you are missing alpha, you need to be in early for every project, blockchain or token but it can become exhausting. Doing nothing doesn’t mean I’m bearish or that I have lost conviction I still love it but think it is also nice to enjoy the calm too.
Tokenized Stocks
I have been saying for ages that I should look into some of these, nope, still not done it and no doubt it will be my loss if I don't pull my finger out, I don't want to be buying the top now do I?
To conclude
So yes, crypto feels strange for me at the moment. I am not chasing, I have a plan as to when I will buy and I can be patient and wait, the markets will always be there, there will always be 'another trade' so things are quieter, slower and less exciting, but also calmer, clearer, and more intentional. After years of constantly trying to learn or research, and all the hype and confusion this sort of feels like progress, I can see what I want and I know how to get it and it seems that I am now watching more than waiting and it feels different watching for a price to buy at, than it did waiting to sell, I am not nervous about buying Bitcoin and I never was, even when in the depths of the bear market and everyone was saying crypto was dead.
What are your thoughts? Are you still active or have you also slowed down in crypto? As always thank you for reading and feel free to comment.
