The last two cycles both took off in Q4.
If this cycle repeats, things are about to get crazy.
I'm going to share some things I learned last bull run.
No cringe sh*t or sugar coating.
Let start!
1ïžâŁ Don't chase 100x gains. Most cryptos won't 100x, even in a bull run.
If you hold every alt waiting for a huge gain, you will roundtrip or miss out on other opportunities.
2ïžâŁ A project's marketing team is tasked with manipulating you into holding. It's a cult. Don't fall for it.
You don't owe a project your loyalty. It's just an investment. If you are up and you want to take profit, just do it.
3ïžâŁ I take profit on the way up... This means if I hit 2x I take partial profit, sometimes as much as my initial investment out at that point.
If I hit 5x I take more out, then at 10x take even more out. I call this the slow bleeding.
The reality is that fiat is better than 99.9% of cryptos... FOR NOW.
4ïžâŁ Crypto is heavily manipulated. VCs will spend millions on marketing to convince you that the bull run will last forever...
You think you won't fall for it, but when you're up, big euphoria will take control, and logic will fly out the window.
The solution is to surround yourself with sensible people who remind you to take profit.
5ïžâŁ Get a portfolio management app. This is not an ad; I won't even drop app suggestions.
Just get one. Things get crazy in a bull run, and it's easy to lose track of bags in an obscure wallet or chain.
Last run I missed out on cashing out almost $30k because I forgot to check on a bag on a random L1
Portfolio apps show you all your holdings on one screen, which makes life easy.
6ïžâŁ Soon, projects will start trying to trick you with long stacking for crazy APY.
Long locks are a scam. You are getting scammed if you lock in for more than 12 months from today.
Never believe crazy APY figures. They will lower the more people get tricked into staking.
Long-term locked staking only benefits the project and never you.
7ïžâŁ There are crypto teams that are building several generic blockchain products.
When they see something like NOT Coin take off, they can spin up a clone in a week because they have 75% of the generic work done.
They build up hype, launch, and then soft rug. Founders can dump tokens through a CEX even if tokenomics say they are vested.
Beware of any clones coming out in the weeks after a unique project blows up.
The only way I've made money on these is by buying and selling within a day or two, but even that is a risky game.
8ïžâŁ When something doesn't feel right, it's best to get out. I ignored my intuition a lot last run, and in most cases, it cost me a lot of money.
By the end I learned NOT to hesitate. This is why I got out of UST just before the LUNA collapse.
When it feels off, GET OUT!
That's all I can think of right now!
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