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Many are probably thinking that success in a bear market is a bit of a “stretch”. After all, making it out alive would be an achievement, right? Bear markets have a chess dynamic that guys like Sam Bankman-Fried seem to understand quite well. CZ is another Crypto power player that understands this dynamic very well. Sacrificing a pawn to remove your opponent’s queen is a move that will play off later on in the game. In the same way, seeing your portfolio devaluing in a bear market is a temporary condition. This however doesn’t benefit you much unless you have what investors and traders refer to as “Dry Powder”. This is where Bankman-Fried is miles ahead of the pack.
Give Credit Where It Is Due
Regardless of your personal feelings towards Sam of FTX, you have to appreciate the mindset at work here. I am not addressing his ethics or behavior but rather his mindset and approach to business. Instead of squandering profits on marketing and an increased workforce, the CEO chose to live and behave extremely modestly. Now, in a time when everyone is suffering, he is buying up companies and taking large positions in leading Crypto entities. The foolish investor will see his value returned in time (if he is not leveraged) but Sam Bankman-Fried and like-minded investors will own new holdings that perhaps even outweigh their initial portfolio. Once again, the greedy are unable to exercise this wisdom. When the gains were surging in 2021, how many decided to start securing some profits for the winter months ahead?
This is a concept few understand in the Crypto space, perhaps largely due to influencers posting videos of mansions, Bugatti’s, and other lavish habits. Isn’t it funny how a multi-billionaire drives around in a Toyota? Bankman-Fried is undoubtedly one of the most powerful figures in the Crypto industry. A house or a car does not grant you power. In the world of financial markets, cash is king! Or, having liquid assets at your disposal. The time has begun to begin buying up quality projects that have been hammered and perhaps unfairly punished. I am only beginning to embark on this adventure, due to my conviction that the market is still headed lower. This conviction is based upon an actual thesis and not merely a belief. We will see how it plays out. To work consistently upon the foundation of an actual thesis is way more powerful than a lucky call that’s not based on much.
A Lesson To Be Learned
Those who operate without the aid of analysis, metrics, and other data soon discover this truth. The odds of accuracy are on the side of the analyst. Guessing, which is often based on a feeling or a hunch is the equivalent of gambling and you know where the odds lie in this particular instance. Trading is a game of probabilities and the scale weighs in favor of data and technical analysis. Hindsight will once again reveal who was well prepared to harness the destructive power of this bear market and resurface in an even stronger position. I hope that many reading this article will be amongst the Victors!
Deciding to act in a bear market requires a combination of bravery and caution. I guess, finding that balance is the “secret sauce” to making successful calls in a bear market. Let’s just be honest, many projects will not be rising again from the ashes. However, there will be projects that will perform phenomenally well from positions of extreme weakness. These projects will surpass the expectations of many. This always happens! Some projects seem to catch a “spark” where others turn to ashes. Our job as investors is to do our best to identify these projects as soon as they spark. Catching the flame is too late. If you want to experience significant gains, then look out for the sparks!
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