this has more or less played out exactly as expected 👇👇👇
onchain has been choppy for the past 2 weeks
especially compared to the insane momentum we had over the 1-2 months before that
with a few exceptions like $USELESS & $STONK, almost everything that was hot when i posted this is now down
some are down 50%+
new pairs have been especially brutal for most
and i know what's happening now
people are getting shaken out of their high conviction plays because 'things look weak'
that's exactly when you're most tempted to sell
and exactly when you should be doing the opposite
the hard part isn't buying when everything is ripping
the hard part is having the conviction to HODL and buy the dips when the market gets boring and painful
Q4 remains the focus
what we've experienced over the past few months is just the prelude
if the market starts melting up the way i expect over the next few weeks, the people selling their high conviction bags NOW are going to absolutely hate themselves
don't let a temporary period of weakness make you miss the move you've been waiting months for
my bias on the market right now:
barring any major change in trajectory following CPI tomorrow, i think things could get quite painful/choppy in the short-term
especially onchain
and honestly, we may have to endure this until Q4
the BIGGEST mistake you can make here is overtrading and bleeding your capital chasing every new pair and liquidity rotation
instead:
hold your highest-conviction plays
and aggressively buy the dips you get
especially on the outperformers
we're NOT done by any means
far from it
but you may have to endure a little pain before the real glory begins in Q4
don't get shaken out before the fun starts
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