I can’t say I’ve never seen anything like it because I invested through 1999 and 2008 but the the unraveling of all things Crypto is intense.
I have written here that I treat Bitcoin, Ethereum, Indian stocks and Chinese stocks as venture capital meaning I give them much wider room to fall than a typical stock. Zero’s happen.
It’s dead quiet in crypto land and that’s a good thing. Talent is still moving into the sector and that’s a good thing. Smart money is still bullish and that’s a good thing. Confusion is very high amongst retail investors and that’s a good thing.
Next is despair and than we will see what’s next.
I have no opinion on crypto just losses. I am so glad I was a big seller into the end of year mania but any exposure is bad exposure right now.
I am sitting tight and talking to the people that got me interested in crypto in the first place and when they give up I will give up.
I liked this tweet from my friend Farbood who is a crypto optimist and realist :
The crypto world will need more participants to resume any uptrend and stop the carnage. Plain and simple.
I enjoyed this interview with a Chris Dixon who continues to invest in the crypto world. Have a read.