The Weak That Was
We've entered the point of the program where Pepe himself decides to move to Uruguay
If you didn’t lose money in the crypto markets this week, it’s because you had incredible luck and/or you were forced to sell a bunch of stuff a few weeks back and/or you lost all of your Bitcoin in a boating accident.
Top Five All-Time Tweet notwithstanding, this past week was no laughing matter.
What Really Happened?
On the Metacoin site just yesterday, we talked a little bit about our 2022 Growth Portfolio. (We figured out a way to track it on CoinGecko’s site and that’s kinda fun.) What’s not kinda fun was that, when we shared the post on Friday morning, January 21, here’s the figure from our theoretical portfolio of ten tokens:
Then, this morning, this:
Cue the 1989 Dance Hit from the band Inner City:
In case you’re wondering, we are *not*, in fact, having “Big Fun.”
It’s more like a game of “Catch the Falling Knife.” Or, giving me an excuse to share yet another late-80s dance classic, channeling the words of Pretty Poison:
Ser Wen Moon
We’re on the edge of the knife here: we could end up seeing a historic pullback, or we could end up watching a bull market take shape.
For instance, we could have a year like last year, which started off with a pop and then went south for a while then went way back up to an all-time high:
That would be preferable to this, the 2018 story.
As we mentioned on the original post about the Growth Portfolio, we’re looking at buying pieces of things you can use. So maybe…here could be the approach going forward (AGAIN DO YOUR OWN RESEARCH):
Ethereum still looks good because it is the grease that powers a lot of the transactions out there;
Avalanche also looks good because it is just getting started as a grease that powers a lot of the transactions out there;
Magic has a decent amount in store in the NFT universe;
And DeFi Kingdoms could be a unique gaming play in 2022.
All four of those are down at least 15 percent in the past 24 hours. So…again…maybe you ARE catching a falling knife.
In any event, happy…investing? Speculating? Planning the move to Uruguay? Whatever you’re up to, good luck with it.