digital slowmad

Digital Slowmad newsletter

10 September 2021

📊 Crypto portfolio update

Invested in: Ethereum (ETH), Avalanche (AVAX)

Net return: 7.3%

Comments: It's been a busy week in the crypto markets due to a sudden and sizeable dip across the board on Wednesday. Within 2 hours, bitcoin dipped -20% while most other cryptos suffered larger losses.

As I was actively monitoring the markets, I managed to avoid the brunt of the crash by closing a portion of my holdings early on. Word on the street is that this was a coordinated move by crypto whales to flush out leveraged traders.

sep 2021 rekt
btc crash sep 2021

In any case, this is a good reminder that (1) the crypto markets can be manipulated in the short run, (2) leverage in crypto is a bad idea, and (3) the best way to invest for the long term is to dollar-cost-average into pullbacks (as per The Vault Method).

📝 Admin update

  • I've put up a number of new YouTube videos on my channel (especially during and after the mini crash), so check it out and subscribe if you haven't already.
  • If you missed the last newsletter, you can get it here.

₿ Crypto news

💬 Quote of the week

In order to succeed at something - you have to lose a lot. You've gotta invest in loss. That's where all the beautiful lessons are.

- George Mack

🤯 Something amazing

This is a picture of astronaut Bruce McCandless II as he floats untethered away from the safety of the space shuttle, with nothing but his Manned Maneuvering Unit keeping him alive; The first person in history to do this.

crypto trader alone

Thanks for reading, and have a great weekend.


P.S. If you have any questions or feedback, let me know at: chris[at]digitalslowmad[dot]com