An old timer's perspective

I just want to say that these hundreds of Youtube channels with some 20 year old doing their technical analysis charts on various cryptos have had me laughing my ass off for the past year. They're trying to apply the same TA parameter rules of an asset class that has been around for a hundred years+ (stocks) to an asset class that is really still in its infancy (crypto).

I've been around for stock market crashes like 2002, 2008 and previous crypto crashes. Bought BTC in 2017 and then saw it go down to about $3000).

A couple of things to remember.

In the stock market you're lucky if you double your money in 10 years, in crypto you can 10x your money in a few days. (I've done it myself with LRC) So you need to realize that the reverse is also true and not bet the farm with money that you can't afford to lose.

Next, When the sh*t hits the fan, EVERYTHING IS CORRELATED. For example, If the stock market takes a major sh*t because of Covid fears or out of control interest rates, you can be 99% sure that BTC and ETH will follow, and in turn every alt coin will follow those two. Are you in for the long term? With real projects with a use case, not Santa Claus coin/cute doggie coin that serves no purpose? Then this is just noise. In the long term there will be a recovery and in increase from the previous ATH's

​

My current portfolio is BTC, ETH and a few alts that I feel are legit projects (ADA, XLM, LRC) What am I doing today? I'm looking to dip my toe in on some of the lower cap alts that I don't have and felt I'd missed out on. Some of these are down like 20-25% today and I feel the bounce back in a recovery could be (percentage wise) better than that of the two big guys, BTC and ETH. I grabbed some ALGO and AVAX, and increased my position in ADA.

Good luck to all and keep your wits about you.