The crypto market is literally in shambles. Everything seems to be going to hell, and not slowing down. As if that's not enough, scam Solana NFTs have been pumping like crazy and then rugging, leaving people bag holding worthless JPEGs. It's truly a mess, and definitely not one I want to navigate without a proper guide.
To that end, I am sharing how I'm navigating this current massacre, what I'm buying and partaking in, and what the future could potentially hold. (I said potentially. I'm not a god, and cannot predict anything!)
Navigating this massacre.
The most important thing to do in a bear market is to keep your money. It's extremely easy to lose all your money in a bear market, and it shows by the number of liquidations and people still buying alts. Whenever the market goes bear, I go into capital preservation mode. This means no short term altcoin plays, and no unnecessary trades. I scrutinize trades a lot more and keep my USDT chips for buying crazy discounts that just don't make sense. This is the best way to preserve your capital.
Alternatively, if you really want to preserve your capital, you could simply sit the bear market out entirely, and buy only on certainty of a reversal. it usually isn't the best move, but at least you won't lose any money.
What is MadMaxx buying and partaking in?
This list is simply what I am buying and partaking in, and is not a request for you to do same!
Since I am mostly cash heavy, I have 90% of my cash over at Anchor, earning me a sweet 18% APY. (I will write on why I love Anchor so much later this week!) Seeing as I have a sizeable amount of UST, this means I'm able to get more money passively to buy more dips. Which is great.
I split the remaining 10% into the Cosmos ecosystem. I have $JUNO, $ATOM and $OSMO bought at really low prices and staked! This has helped me get some sweet APYs up to 100%, as well as some amazing airdrops, recent ones including $RAW and $EVMOS. (ATOM heads are also waiting for GNOland's snapshot sometime this month. My advice? You certainly don't have enough ATOM! Make sure you pick some up and stake at these discounted prices! You surely don't want to miss out! Also, make sure you vote "No with veto" to proposal 69. Thank me later :) )
These airdrops have paid for any downside I have incurred on my stakes + some more money to buy even more dips!
I've also been accumulating $ENS, as well as popular ENS domains. I've been able to buy some popular ones, such as Apegod.eth, and HODLME.eth. The plan is to see as many ENS domains I can acquire (including popular brands like Gucci and Prada, etc) and hopefully sell-off if/when these brands become interested in ENS domains. This is a risky strategy, as no one may buy my ENS domains, but I got them for under $200 and they're pretty cool, so it's still a win in my book. :)
ENS is also showing some serious strength in this bear market, outclassing with a 21% pump in a few days. I was lucky enough to get in before the pump, and am still holding and looking for potential entries. If something shows this much strength when BTC is literally dying, it deserves some serious attention.
Future me here. Had already started writing this draft by about 8am London time today. It's now 12am London time, and ENS looks good for entry. I saw this and didn't want to change the entire article, hence this. Enjoy!
What comes next?
The future of crypto is greatly uncertain. I am currently planning my exit, but I foreshadow that would be about 2-3 years from now. Crypto has changed my life forever, and I am thankful, but the regulators are coming. In fact, they're here already. They lurk in the shadows. Own the most prominent VCs and launchpads. Manipulate prices to fit their narrative, and dump on any and everyone.
Crypto is seeing a great correction as expected, but as usual, all on chain signs point at some crazy accumulation going on. The big boys will accumulate, crypto will pump, they'd dump on us all, and the cycle will continue.
That's it from me! I worked on this article for over 19 hours! Not writing it per-se, but finding the time to write it. It's been a very busy day consulting with legal experts on my new business. I hope to be able to share it with the world soon.
Thanks for reading, stay dangerous and I'd see you in the next one. MadMaxx out!
