digital slowmad

Digital Slowmad newsletter

1 September 2023

📊 Crypto portfolio update

Exposure: 34.7%

Net return: 551.9%

Comments: Two weeks ago BTC fell -12% in a single day which was an unusually violent move.

At the time, people were panicking but I said in the last newsletter:

And as it turns out, I was right. BTC stopped falling and made a modest bounce two days ago (which has since retraced) and the price remains caught in the same range:

The implication being that this is an equilibrium range that will persist until there is either good news (eg. spot ETF approval) or bad news (eg. Binance in an existential crisis), which will determine the next major move in BTC.

The overall macro environment is still hostile towards crypto however, so in the absence of major news the price is more likely to head south.

This being said, I'd like to have hedge my bets and have some exposure in case I'm wrong... I do, after all, think the bear market low is in.

Current allocation:

Details available in private group

📉 The Last Dip

If my guess is right, the next major dip in crypto will be the last one before the start of a new bull market.

If you've survived the bear market thus far, the worst thing you can do now is lose a big chunk of your portfolio speculating on shitcoins like BALD and HAMS.

The second worst thing you can do is erode your capital getting whip-sawed on leveraged positions.

What I'm trying to say is: This is not the time to get fancy. Stick to basics.

Keep your powder dry and wait for bargain prices to DCA into projects with solid foundations; Don't waste them on short term distractions (and get rugged while at it).

I'd hate to use the term "generational entry" but what's coming up might be the last opportunity for a 'generational buy'... kind of like in 2020 when BTC fell to $6,000.

You've come this far -- don't f*ck things up now.

📝 Admin update

🤣 'The Other Guys' bloopers

Will Ferrell is hilarious in this movie and the bloopers make it 10x better.

💬 Quote of the week

The more an idea is tied to your identity, the more you will ignore evidence it is false.

- James Clear

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