Digital Slowmad newsletter
18 August 2023
Crypto portfolio update
Net return: 557.5%
Comments: In the previous newsletter I wrote:
Today, my warning came through.
Less than 24 hours ago the S&P500 started dipping...
And the crypto market (including BTC) nuked:
Now if we zoom out on BTC we see that the price is still caught in the same range over the past 4 months:
So this latest "crash" is perhaps not so consequential one after all... or at least, not yet.
The macro environment is still far from conducive for a bull market, so I'm expecting more choppy prices with a downside bias (especially on altcoins) for the foreseeable future.
🥸 How shilling works
Over the past few weeks, crypto price volatility was at a historic low and many resorted to punting on low cap projects shilled by CT influencers.
What people don't know is that many of these CT influencers had colluded earlier (in their private chat groups) to buy up these tokens. Then, as the price of these low cap tokens go up from their buying, they start shilling to draw fools in, and then use the fools as exit liquidity to get out with a big profit.
Unless you're one of the insiders, chances are that you'll end up putting your money directly into their pockets.
This is how the shilling game is played.
Now you know.
💠 The (literal) pattern of life
This mysterious design is found all over the world across various time periods and cultures. It's not random and never repeats exactly. Kind of like life (and trading).
"This pattern.. is life. And as as you can see, life's complicated. But not only is life complicated, life is also aperiodic... in the sense that every event, every happening, every decision, will make the future unfold differently, often in ways that are impossible to predict. Yet in spite of the complexity, and in spite of a future that's impossible to predict, there remains an underlying unity that holds everything together and gives rise to everything."
Quote of the week
The fastest way to kill something is to compare it to something else.
- Craig Groeschel
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
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