Bienvenidos mis ositos, tu siempre eres mis queridos! (Welcome back little bears you are always my dears!)
When I was a young man I used to enjoy a good wrasslin’ match every now and then. There was always one match that stuck out.
It was the 1998 Hell in a Cell match during King of the Ring between Mankind and the Undertaker.
Now I’ve watched horror/slasher flicks and played Mortal Kombat games before so you would think I’ve desensitized myself to violence.
This hit different though. Although the matches are scripted, the violence is real. This was a human being willing to put his physical body on the line for entertainment.
Good God Almighty! Good God Almighty! That killed him!
As God as my witness, he’s broken in half!!!
Will someone stop the damn match!
I can still hear good ol’ JR’s voice when he called the match.
First Mankind got tossed off the TOP of the cage onto the announce table.
Then the poor guy got chokeslammed THROUGH the cage to the mat below.
Later on he took a slam on thumbtacks!?!
Mick Foley a.k.a. Mankind/Dude Love/ Cactus Jack cemented himself as a Hall of Famer that day.
I really hope he got a good payday that day.
Back in the crypto world, the violence is not physical but it is very real.
Every time I look at my portfolio, I grimace in pain like I got with a blunt object.
First Terra tossed Bitcoin off the top of the cage. Then the fund deleveraging chokeslammed ETH and stETH to the mat. Now the altcoins are crawling through thumbtacks and begging for a reprieve.
After a relentless beating, our portfolios are finally getting a small break. For a moment it looked like we needed to wheel our portfolios out on a stretcher.
It looks like we’ve gotten a second wind but don’t get complacent.
Relief rallies are more painful because they give you hope. They tease you by luring you into a false sense of security. As you start to buy a little bit to test the waters…
Then WHAM, they sucker punch you and kick you in the groin.
Next thing you know your poor portfolio is lying in pool of it’s own blood.
What bother me is that the relief rallies seem to get weaker as time goes on.
Use these brief opportunities to catch your breath and unload any crypto turkeys that you may have accumulated when times were good.
Keep scouring the crypto media for protocols that pay out cashflow in tokens that you actually use.
Having a mix of “majors” like BTC/ETH and stablecoins will help you be the last (wo)man standing.
As we stagger back to the locker room our bodies are bloodied and bruised. But our fighting spirits are intact.
We may have lost this match but the fans chant our name and give us a standing ovation.
We too will be legendary for suffering through this crypto hell in a cell one day.
Obviously none of this is formal financial or tax advice. You need to find qualified professionals in your jurisdiction.
Be sharp, stay hungry let’s get that money!
