1) I'm usually pretty retarded when it comes to trading but having been in the space for 10+ years I have some very smart/powerful friends I'm able to ask dumb questions to.
I can definitely tell you it's 10x easier making money during a bear market than it is a bull.
(We're not in a bear market now but I'll explain).
2) Last cycle I made a lot of money shorting VC coins after the Luna crash because of a friend that owns a top crypto fund.
He advised me the VCs were going to start liquidating their portfolios because they needed to return capital back to their LPs because most had taken a fat hit from Luna.
In hindsight this is super obvious but at the time it wasn't to most.
Personally the money I made didn't matter in the end because I eventually got rugged by a CeFi platform anyway but
3) Human psychology plays a huge factor into market behaviors.
When things go up it's a staircase up and when it goes down it's an elevator down approach.
When things are going up people are typically hesitant, "man I saw this at $X" and only allocate a smaller portion of their holdings to buy when FOMO hits versus when it's selling time everyone starts to panic and try to dump their entire bag before others do.
4) Fast forward it to this week.
I had a small short position open because I thought the govt shutdown would extend and eventually it'd cause people to start panicking and have equities/stocks to start selling off a bit.
Crypto ended up going down for a different reason but got lucky and "hit".
After seeing major alts like ATOM going down -99% and even Cardano ~-80% I started asking around to see if this was going to be another contagion like the Luna crash and whether I should all in on a short.
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