As someone who is long only #crypto and owns more than 50 different #cryptos - I feel the pain too.
Things are worth mentioning:
1) I never planned to be long only(what can you expect from a former hedge fund guy) but haven't spent enough time researching the instruments I want use on the short side( a couple like Zeta Markets look promising). I will use the bear market to do this and will be prepared to hedge once we are nearing ATHs again.
2) I continue to invest incrementally so down markets can be good opportunities to accumulate. That being said only small nibbles until we get signs of recovery before going all in.
On the @CryptoFi Weekly call this past week our technical analysis indicated the downturn was not yet done and suggested we could have a few more weeks/months before we consolidate enough to go higher. I also acknowledged that some #crypto assets are just now at their fair prices/intrinsic value(don't have good calculations for this but used an opportunity cost methodology) even though a few are also quite undervalued. Time to be selective...
Emerging markets and asset classes have always been the toughest to invest in and I have experienced this first hand in the TradFi markets(have some good stories of trying to invest in countries with hyper-inflation and political instability and war).
The only thing I ever really have to say is there is not much general advice that is useful - know your situation and goals and plan for that. Ignore what everyone else is doing.
I signed up for the high risk/high return opportunity of -90% drawdowns and the market delivered!
Happy Fathers Day
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