Surviving Crypto's Summer Chop | 1000x

Speaker 0: Take July off. Just look for alpha. Stop worrying about trying to pick the bottom unless we trade 55, maybe 52. Like, don't don't worry about going all in. Don't worry about lever long and BTC.

And then depending on where we are, August, mid August, Alright. This shit this shit's going higher. So make your shopping make it make your shopping list of coins now, and I'll see you at a 100 k at the end of the year.

Speaker 1: See you then. This episode is brought to you by Perennial Finance, the on chain DeFi primitive designing derivatives for the DeFi native. You'll hear more about Perennial later in the show.

Speaker 0: Alright. Welcome back to another episode of A 1000 x. Now we're actually gonna be talking about markets. I know you guys missed us last week. We went deep on we went deep on our Weave, but enough has happened in the markets that I think it's worthwhile talking about.

So we sold off pretty aggressively, tagged that 58 5 level, bounced really hard, and now we're sort of just meandering around. I mean, that this has been like, I actually think that the market was reasonably easy to trade up until the last week or up until that sell off. So I don't know about you, Jonah, but I I bid a lot on that day that we collapsed, and then we bounced. And I wasn't really sure if that was the full bottom or not. So I ended up taking off a lot of profit on that initial bounce.

And then what ends up happening is that, you you know, we're, like, hitting 62, 62 kind of hard to get through, but I made a bet around, you know, 6 61 5 that we were going higher. So I end up buying a lot of just a lot of length, end up lifting all the Solana meme coins. I grew a rally stash, hoping that we'd get to 64. And then the US government starts moving BTC. We sell off.

We get down to that, you know, 68100 level, and I just go, fuck. Did I make a mistake adding adding a ton of length? End up basically cutting all my positions, getting getting to flat, selling, you know, BTC against some of the some of the alts, ended up getting out of all the all the soul and all the, with and bonk. And then I wake up today, and, an hour later, you get this crazy salat of ETF news and everything that I sold is up fucking 20%. And that's just the life of a trader, Jonah.

That's that that's the life of a trader. You're you're never you're never always gonna be perfect. I mean, you know, we can pat ourselves on the back from missing the drawdown, but, the reality is that it's a this is this has been a tough market. I think I think for a lot of people. It's hard to maintain conviction because the they're like, the camps are so divided right now.

Okay. Well, there's one that says we're at the bottom of the range. We defended it. Now we go to the top of the range. Now the real rally starts.