Yesterday, there was a piece of news that attracted the attention of many traders, that is, the legendary crypto trader GCR returned to the market.
Who is GCR? GCR is short for Giant Cassock Revival. He has been a top trader on FTX from 2021 to 2022. In 2022, GCR became famous for earning hundreds of millions of dollars by shorting Luna. He can be said to be the person who made the most money in the collapse of Luna and FTX. But he retired with the profit. In the past year, his Twitter has not been updated until yesterday.
The last tweet posted by GCR was on April 22, 2023. A year later, he spoke again and said, "If you have been marginalized, please believe that this is a good opportunity to invest in tokens with high conviction. If you are fully invested, try to survive, hold spot positions, and don't surrender. Someone once said that market liquidation is the forced transfer of wealth from traders who need leverage to wealthy spot buyers. I am enjoying my retirement life brought by social media, but I don't want to see my brothers eliminated when the future is still so bright."
In short, GCR means "hold on to your coins." Some netizens analyzed that GCR clearly hinted that he believed that the altcoin season was coming, which meant that we needed to be prepared, and he was someone we should learn from.
Then, netizens began to search for which coins GCR had hoarded recently, and a total of 5 were found: CoW DAO (COW), Ethena Labs (ENA), LooksRare (LOOKS), Yield Guild Games (YGG) and HULVIN (HULVIN).
So we analyzed GCR’s past tweets and summarized his investment strategy, a total of 10 tweets:
1) Buy the rumor, sell the news
GCR: “Ironically, the best bullish path for $DOGE is for Musk to not integrate $DOGE into Twitter, but simply mention it, joke about it, etc.”
✧ This is a pretty solid program and many people who saw these tips made millions of dollars
✧ Therefore, the investment strategy rule here is: buy when few people know about the rumor, sell the news when attention has peaked, not the other way around.
2) During an altcoin cycle, you should invest more when the trend first reverses and start hedging over time
✧ People always seem to do the opposite.
✧ So, follow the trend and buy it when it just appears, not when it has grown 100 times.
3) New currency > old currency
✧ GCR believes that the new token is better than the old token for the following reasons
New Tokens:
Hopeful
Lack of holders
The team is still hungry and hasn't earned enough
✧ So instead of trading those billion dollar market cap tokens, look for new opportunities
4) Market reaction to news > effectiveness of news
✧ When news affects prices, market participants tend to focus on whether the news is true or false.
✧GCR believes that "many times, the actual truth of a news headline does not matter".
✧ Therefore, always focus on the market's reaction to the news, not the news itself
5) Stop losses in time and let the winners run
✧ “GCR recommends treating your trades like a prizefighter rather than a coin; a win is a win, a loss is a loss.
✧ But for some reason, many people still do the opposite.
✧GCR advises, “Therefore, stop losses quickly and let winners continue trading.”
6) Integer price levels are called “Schelling points”
✧ For some reason, round price levels often become bigger growth points
✧ GCR indicates that a certain integer price level is a clear convergence point for fuzzy, reflective assets; respect this Schelling point.
7) Seize the Profit
✧ “Wealth is not wealth until it is achieved,” says GCR.
✧ Remember that the profit is the profit you have already exchanged for stablecoins or fiat currency
✧ (Volume > Market Cap) = Bearish Signal
✧ I prefer to lock in profits in stages, 20%-30%-50%, but it depends on your portfolio.
8) Focus on narrative
✧ This is a popular GCR saying: "If you chase two rabbits at the same time, you will not catch either one."
Try to focus on one narrative/thing that’s popular at the moment, make money there, and move on
You won’t make money trying to work on 10 topics at once.
9) When your portfolio is small, airdrops are your key
✧ GCR believes that in the crypto space, the best thing you can do with a small amount of money is to ambush an airdrop.
10) Hold > Trade
✧ In its last tweet before retirement in 2023, GCR claimed that money printing will not stop and that eventually holders will outnumber traders.
He said, “It’s only a matter of time before ETH reaches 10K.
Well, the above is the story about the legendary trader GCR. I hope you will benefit from it. Welcome to like, follow, leave a message and forward it!
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