Crypto Weekly Roundup: Study December 2020

Disclaimer: This post contains the thoughts of a medium stupid person (me) on crypto, a volatile and risky asset class. It is not investment advice, and you should do your own research. All information is for educational purposes only. Please don’t take risks with money you’re not willing to lose.

Welp. We did it. It’s December 2020 again.

Bitcoin has survived every sell-the-news FUD, and it ripped higher on the back of the ETF bids, which only continues to accelerate.

Interestingly, now that it appears obvious to most people that Bitcoin has a free walk to all-time highs, memes ripped out ahead. The market is clearly getting ahead of rotations, which speaks to the general strategy of just holding the highest beta with the biggest mind share while we’re in this odd protective risk bubble.

Pepe is leading, likely a result of ETH leading all majors, a trend I continue to think will hold through the next few months pre-ETF, but one which I’ve declined to trade.

My current watchlist is FIL, ONDO, CROWN, SHDW, RNDR & Ordinals (Puppets mostly) but I probably won’t end up doing much in the next few weeks.

My bags are packed with BTC, SOL, WIF, and DMT plus a bunch of NFTs and at this point, I think the best bet is to relax and let the market beta reprice. Rotations will be for post-Bitcoin all-time highs.

It doesn’t seem like any of the ETH beta is going to outperform ETH either, at least so far, so if you want to denominate your major’s allocation in ETH, that seems smart to me, but I’m playing majors for long term capital gains at this point so happy with BTC and SOL.

The plan for me remains the same. Ride current bags to those all-time highs, and then aggressively sell 50 - 80% into a money market fund after the first big pump, then take the remaining 20% and go do the absolute most insane stuff I can find trying to 20x+ the smaller bag before the cycle tops.

I’m not a leverage or swing trader, so I’ll just move down the risk curve further into the smaller new stuff.

Keeping an eye out, but it’s too early to tell what exactly that might be until we get there in my experience.

Hsaka WIF Hat:

For anyone unfamiliar with Hsaka, I’ve never personally seen him miss.

I had planned to sell quite a bit on the break above $0.50, but the momentum on this coin is insane. I am overallocated, by a lot. It is what it is.

This percentage is significantly higher with this rally, and I will be selling in phases starting soon, but man oh man.

What a ride.