In the rapidly evolving world of cryptocurrency, many newcomers enter during a bull market, but few manage to endure until the next. A seasoned trader reflects on surviving four distinct crypto market cycles, emphasizing that these experiences were not about wealth accumulation, but rather about survival.
Before diving into cryptocurrency, the trader was deeply immersed in the world of professional poker. This background in strategy and risk management played a crucial role in navigating the turbulent waters of cryptocurrency. It was during a stay in Italy that he first encountered Bitcoin, then priced at around $10, when a roommate acted on the advice of a poker coach to invest. FOMO soon took over, and he followed suit, entering the market when the price surged to $44.
The first cycle in 2013 was characterized by chaos and experimentation. The trader not only purchased Bitcoin but also ventured into mining various altcoins, including Litecoin and Dogecoin. This period was marked by a steep learning curve and significant losses, including a forgotten wallet containing a substantial amount of DOGE.
From Greed to Noise: The 2017 Cycle
The next market cycle in 2017 was dominated by Initial Coin Offerings (ICOs) and airdrops. This trader had discovered airdrops as early as 2015, later capitalizing on the trend by claiming airdrops for friends in exchange for a commission. This experience sparked the creation of AirdropAlert, aimed at educating the community about the opportunities in this space. However, the cycle ended with a painful realization as many altcoins plummeted, with most dropping around 98% in value.
As the market matured, the third cycle in 2021 shifted towards sophistication, prominently featuring decentralized finance (DeFi) and non-fungible tokens (NFTs). The trader observed that while some projects held promise, many failed, leading to losses. This cycle taught a vital lesson: holding onto assets without strategy could be detrimental.
Survival in the Current Cycle
Now, the trader emphasizes that the current market cycle is focused on survival rather than glory. Trading strategies have become more refined, with a significant portion of capital allocated to stablecoins. Short-term trading and farming have become essential skills, allowing for participation in both bull and bear markets. The shift in focus aims to protect capital while remaining active in the market.
The overarching lesson from enduring these cycles is clear: every dollar saved can compound significantly in the next bull market. The trader stresses the importance of staying humble, protecting one”s capital, and being prepared for the inevitable market fluctuations. With a commitment to education and strategy, there”s a belief that survival leads to future opportunities.
Reflecting on a journey that began in 2013, the trader acknowledges how cryptocurrency has transformed his life, providing freedom and the chance to shape his future. While many did not heed early advice to invest, the commitment to education and support within the crypto community remains a guiding principle.
Ultimately, the message resonates: crypto rewards those who endure, and as the market evolves, so too must the strategies employed by its participants.
