On the last Q&A just a month ago, Iguana mentioned he is "Not fully invested; plenty of dry powder. That would only be allocated in a proper "risk on" environment though. This is still a bear market (although likely close to the end of it). To your question, DCA is probably fine around these prices if you can hold long term. A dip would be a gift but we've had a ton of those in the last 2 years so think its more likely "boring sideways" until the next bull rather than any dramatic 10-15% downdays."
What caused the change in terms of not being fully allocated with plenty of dry powder a month ago to being well allocated here? What could DeFi Education readers have done to learn how to position themselves for such a move?
2. Follow some code audits to familiarise yourself with how projects are structured. These first flight challenges are great for that: https://www.codehawks.com/first-flights
3. Build portfolio projects (you'll get ideas automatically from the audits)
4. Find ways to contribute to open source projects.
Hopefully this helps some other budding developers get started. I'm working on step 3 at the moment and hope to get involved with real projects as soon as possible.
"we are operating as if we are in the early stages of a bull run." -> How are you guys thinking about increasing allocation from here (dcaing a bit more aggressively, lump sum into majors, etc) ?
From Iguana a little over a month ago:
"I'm at about 30% of nw long. Rest split between tbills and some other stuff I'm working on. That's quite an aggressive position for deep in a bear market, and will add to it aggressively if I think we're going into a bull market. (not yet, likely next year)"
why added aggressively? there was the fake Cointelegraph news then the real news
why not add at these levels? my upside case is maybe another 10% higher only on BTC on the approval and that could be ~2 months away
ETH's time will come next year, we may see a spot ETF by May. That's the one I'll add to very aggressively on pullbacks (and when the market picks up the theme, which I expect will be after spot Bitcoin approved)
Meanwhile as mentioned in the newsletter think 0.05 ETH/BTC is at or near a low for this cycle.
Just wanted to clarify on the positioning.
On the last Q&A just a month ago, Iguana mentioned he is "Not fully invested; plenty of dry powder. That would only be allocated in a proper "risk on" environment though. This is still a bear market (although likely close to the end of it). To your question, DCA is probably fine around these prices if you can hold long term. A dip would be a gift but we've had a ton of those in the last 2 years so think its more likely "boring sideways" until the next bull rather than any dramatic 10-15% downdays."
What caused the change in terms of not being fully allocated with plenty of dry powder a month ago to being well allocated here? What could DeFi Education readers have done to learn how to position themselves for such a move?
Great piece! For developers looking to get started in crypto, this is the path I'm taking for myself:
1. Learn basics of Solidity & software design (eg. https://refactoring.guru/design-patterns/catalog)
2. Follow some code audits to familiarise yourself with how projects are structured. These first flight challenges are great for that: https://www.codehawks.com/first-flights
3. Build portfolio projects (you'll get ideas automatically from the audits)
4. Find ways to contribute to open source projects.
Hopefully this helps some other budding developers get started. I'm working on step 3 at the moment and hope to get involved with real projects as soon as possible.
Thanks for the update. Quick follow-up.
"we are operating as if we are in the early stages of a bull run." -> How are you guys thinking about increasing allocation from here (dcaing a bit more aggressively, lump sum into majors, etc) ?
From Iguana a little over a month ago:
"I'm at about 30% of nw long. Rest split between tbills and some other stuff I'm working on. That's quite an aggressive position for deep in a bear market, and will add to it aggressively if I think we're going into a bull market. (not yet, likely next year)"
oh I already aped in very aggressive as markets moved up
wouldn't add to positions around these levels
Thanks for the update. May I ask why? For those who still have more to deploy, are you thinking there will be a sizable pullback for better entries?
why added aggressively? there was the fake Cointelegraph news then the real news
why not add at these levels? my upside case is maybe another 10% higher only on BTC on the approval and that could be ~2 months away
ETH's time will come next year, we may see a spot ETF by May. That's the one I'll add to very aggressively on pullbacks (and when the market picks up the theme, which I expect will be after spot Bitcoin approved)
Meanwhile as mentioned in the newsletter think 0.05 ETH/BTC is at or near a low for this cycle.
appreciate the additional note.
Thank you! Definitely working on getting into the mindset of winning in crypto again. Been awhile