At a recent Crypto Traders Meetup in Singapore, the rooftop terrace buzzed with excitement over the imminent launch of the Bitcoin ETF (bets are on for Q1). However, as I mentioned in this blog on September 7th under the article ‘One Small Step for Bitcoin, One Giant Leap for Ethereum,’ I wouldn’t get too excited..
Observing how perspectives evolve among experienced traders at this event is fascinating, particularly when the excitement level rises at the possibility of a BTC moon landing price event.
However, the days of getting thrilled over a mere 2x or 3x return seem like a distant memory, especially as we collectively agree. Once institutional money flows into a crypto asset, it’s a game-changer.
For us, the real treasure lies in ALT COINS, with a whopping 80% of our wealth blossoming during the vibrant Alt-Seasons of the past. It’s refreshingly surprising how we share the same view on the next Seasons’ WEALTH MAKERS, which are only talked about so openly if you’re plugged into the proper channels or attending the suitable events.. wink wink.
Navigating these lively terrains, however, involves deploying traditional trading methodologies. As someone who has attended many of these events, it’s evident that traders from broader backgrounds (other asset classes) who understand Risk Management are usually the most successful in the game. They also don’t typically have YouTube channels or are active on many social media outlets. Like many in this room, we prefer to keep a low profile. As I’ve always told my children, ‘In life, it’s cooler to be anonymous; it has many advantages.’
So as we sip ‘Singapore Slings’ and gaze over at the Marina Bay Sands, we begin discussing the importance of distinguishing between ‘Traders’ and ‘Investors.’ We’ve witnessed many individuals getting burnt while attempting to transition from the latter to the former, especially within the crypto community. This is exacerbated when there’s a lack of understanding of the fundamentals.
While being a ‘HODL HERO’ may bring profits, it lacks the calculated mindset inherent in the trader’s mentality. Not that I’m throwing shade at the ‘punters’ who eventually make money, but the ‘Trader Mindset’ turns recovery into profit, even on the way down—a skill many self-proclaimed traders still struggle to master.
I’m, of course, referring to ‘Trading Short Positions.’ Climbing out of your crypto portfolio and rebuying your way out of it can be a long journey out of that deep well, but trading your way down means the climb back will be shorter and very profitable.
As the night draws in, I’m starting to warm up to my new community on this continent. The impressive attitude towards the Crypto Market here is a refreshing parallel to those I left behind in Switzerland. The commitment to the cause, the knowledge recited on the top 500 white papers, and my favorite—the inside knowledge of ‘New Projects’—are mind-blowing. If anyone at this event wakes up with only a hangover and not a new asset for their portfolio, they were truly missing out on taking advantage of the Asian OGs at this event.
Before delving into the countless trays of Christmas food gliding around the room, courtesy of a synchronized crew of waiting staff, the conversation quickly shifted to our top picks for 2024 and how our community could make the most of the Bitcoin ETF.
We know our position is vital for seasoned OGs who have regularly accumulated bitcoin and now boast a sizable portion. When today’s elite money managers enter the ring, our books will become obese with profits.
However, for those who didn’t believe in Bitcoin and haven’t been accumulating over the years, drawing BIG PROFITS would require BIG DEEP POCKETS to be a player in this market. So Good Luck.
Before listing my picks for a ( Fictional ) Christmas and New Year Portfolio book, it’s important to highlight that those of us deeply immersed in the crypto world have an unhealthy addiction to gathering intel from reliable channels like Discords, Telegrams, YouTube, WeChat, TikTok, and, of course, at these VIP secret in-person events, which are our modus operandi to success. Our focus pivots to identifying and capitalizing on 10x tokens while the rest of the market sleeps on BTC, ETH, and the usual suspects.
The current top 500 projects on Coingecko reveal entities poised to make significant contributions to global crypto PnLs during the impending Bull Market. But in crypto, you’re not making REAL MONEY until you’re making money in ALT SEASON. However, without the prep work in the BEAR MARKET, you’ll always be a step or two behind most of the people in this room.
So, scrutinize those top 500 projects; don’t just glance at them. Within them are life-changing profits for your book. But don’t just look at the tokenomics or the white paper; focus on the ‘Partnerships’ because the winners of these games have the proper backing.
As this rooftop event ends, whispers of an after-party circulate, which would be rude not to attend. But before I go, I can share this standard narrative being echoed by Asia’s finest. No, it isn’t ‘Not your keys, not your crypto,‘ nor ‘Buy the dip,’ but ‘Find the mentor who doesn’t give you the answers but challenges you to find your own.’ Oh, and my favorite, ‘If in doubt, Zoom Out.’
So here’s my Christmas gift to all who follow this blog.
Note, it’s not financial advice or a chance to ‘Copy Trade,’ but more a list of projects I would be mindful to notice in 2024. Please note, I’m not going to give you my reasons for the below; that’s a service of mine, and you’d have to pay for:-
From the heart of Singapore, Merry Christmas, and may your crypto journey be as dynamic and promising as the views from Marina Bay Sands. Cheers to a year ahead brimming with success and shared triumphs!