Bienvenidos mis ositos, tu siempre eres mis queridos! (Welcome back little bears you are always my dears!)

Well, I hope my frens are OK. Bear markets are never fun but they won’t last forever. However we should prepare for EVEN MORE PAIN in the months ahead. If you haven’t started an emergency fund of fiat cash or stablecoins I have no idea what you’re waiting for.

While we wait for good buying opportunities let’s go over some of the painful “truths” that led us to this dire situation.

1) Some optimistic cheerleaders hypothesized in 2020 that mainstream crypto adoption would lead to less volatility.

This theory sounded good at first but when you think about it doesn’t make sense. Crypto markets are like any other public speculation market now. Anytime you admit the general public in, problems will soon follow.

Think about the last time you went to a public pool, or your local Walmart or gasp the gas station toilet. Did you enjoy the experience? Not likely would be my guess. Why would you think crypto would be any different?

When I first started learning about Bitcoin and other crypto, there wasn’t as much noise on social media. Discussions could get heated but were somewhat civilized. They weren’t as nasty as they are now. Back then you had actual programmers, analysts and other smart folks share their knowledge.

Now you have Tik Tokers, shillers, and other mentally challenged folks trying to dump their bags on you.

Mainstream crypto adoption has led to mainstream crypto abortion. There’s widespread panic and even the majors are getting rekt.

2) Over in Ethereum land much has been written about the “Triple halvening”. At first I thought they meant supply issuance and not in price. ETH has been a very painful hold. They were one of my “flights to quality”.

ETH maxis often hype up their favorite coin as the most decentralized and secure. Right now it doesn’t feel that way. For their sake I hope the Merge and sharding goes well. Otherwise forget about flipping Bitcoin, some other layer 1 might flip them.

3) Can’t the devs do something?

This is another tragedy that newbs or clueless entrants inflict on themselves. Usually the dolts get hyped up over some project that was shilled to them by some grifter. They then either buy too much OR they overlever themselves.

When the project hits a snag (almost every project hits a snag), these dolts whine and complain why aren’t the devs doing something about this? Sadly devs can only fix their mistakes and not YOUR MISTAKES.

4) Inflation hedge

The Inflation hedge ”truth” hurts the most because I actually believed it. If you’re looking at only 2022 alone this argument doesn’t hold up. If you’re willing to stretch your holding period to at least four years then you’ll see Bitcoin outperform.

Unfortunately the hedge doesn’t come when you need it.

5) WAGMI – We’re All Gonna Make It

This bull market battle cry makes me sad. Part of me really wanted it to be true. However, even I couldn’t resist the euphoria. As the bear market marches on, I suspect more and more of us will drop like flies.

Some of us will not return. That makes me sad, they will likely miss out on incredible gains.

Obviously none of this is formal financial or tax advice. You need to find qualified professionals in your jurisdiction.

Be sharp, stay hungry let’s get that money!