My Degen Crypto Journey

I want to start off by saying that the purpose of this blog is largely personal. I’m using this as a tool to easily communicate with my friends about my trading ideas. I’ve had some small success trading cryptos the last few months, and I find it difficult to text each person individually about my trades. Thus, I will be as transparent as possible as if I’m talking to my friends but staying anonymous on the internet at the same time.

If you happen to be an outsider and stumbled upon this blog of mine…then welcome! Let me tell you about my crypto journey. I’ll tell you about my initial intrigue, the fall, the rise, how I have been performing, and what I’m looking to do in the future. :)

I also want to clarify that I’m no financial advisor, and I’m just some degen-ass bum who may or may not have gotten lucky the past few months. glhf!

How it Started

I had heard about cryptocurrencies on the news / surrounding friends talking about it like some magic viagra pill that’s going to make your portfolio grow to the moon. Utter ridiculousness was my thought most of the time. And then…I got bored one day…so I tried trading it.

On 8/26/2020 I made my first 2 trades. I’ve read technical analysis books prior and thought if these coins have such volatility, maybe I can successfully swing trade them. The idea was if a coin swings 10–20% in a day, maybe I would be smart enough to buy in at the low and sell it within a couple of hours. I wired $4k into my Coinbase account and I made 2 trades that day. Within a day, I made $138. Like a kid watching Lola Bunny in Space Jam, I was instantly hooked but equally as confused (yes…sexually). Being the degenerate that I am, I wired an additional $6k from my bank account (pretty much all the money I had at the time) and I got to work.

Disaster

Some of you may recall what happened in early September of 2020. Yes…the tech sell-off. My dumbass without knowing anything about cryptos thought I was a genius based off of 2 trades, and I dumped $10k into random coins that I thought had some strong price action. On roughly around 9/5/2020, my $10k had turned into $5k. I was honestly pretty depressed about it and this gif perfectly encapsulates how I felt at the time.

I talked to my friends about it…got sad and thought whatever…it’ll bounce back in a year or two, and I’ll just pull out at even then. Boy…I had no idea we were on the brink of the crypto bull market.

My Savior

I went about my day and forgot about my sad portfolio in Coinbase for a month and a half. On 11/04/2020, I got a notification on Coinbase that $DNT was up 500%. My first thought? “WTF?!?! How is 500% even humanely possible?” My second thought…Well…maybe it’s time to get back in?

My degen cells are tingling. My palms are sweaty. Eminem plays in the background as I stayed with DNT for a while after the initial pump and profited ~300% gains on it in total. Some of my other shit coins started to rebound back as well. All of a sudden I was back in the game…only down $1.5k. I saw CVC pumping on Coinbase on 11/9/2020…It was up 30 or 40% the last 2 days, and I said fuck it. I jump in. I saw the green candle starts to emerge…10%…20%…50%…80%…holy fuck! It dipped back down to 20%…eventually I sold at a 58.41% gain in a matter of 3 hours. Did I just make $587 in 3 hours? Oh yeah! I was hooked and charmed by the mystifying to-the-moon degeneracy yet again.

The Rise

Since then, I made it my mission to try and understand everything about the space so I’m not a moron investing random coins in the dark. I downloaded Meta Mask, tried swapping coins on Uniswap, got into layer 2 solutions, became an early adopter in NBA Topshot, participated in a pre-sale, witnessed a rug-pull, witnessed a shit coin being pumped to oblivion followed by a crash to $0, and more. You can see my month-over-month performance below.

I started out in November to January swing trading around 10 coins that I did extensive research on. I was lucky enough to catch the Defi wave in January…hence the uptick in profit. Tried out several liquidity protocols and got tired of ETH’s bullshit gas fees, so I transferred some of my gains to a couple layer 2 solutions. I was honestly pretty lucky to then catch the layer 2 solution wave in February. I will pat myself on the back here and say I invested in a couple NFT projects/infrastructures in February before the boom in March. As you can see my trading volume has ticked down due to me being extremely busy at work. However, some of these NFT projects did carry me in the month of March and made me some very nice gains as well. Below is what my portfolio allocation is looking like at the moment.

Looking Ahead

All in all, that’s pretty much my crypto journey so far. Like I said at the beginning of the post, I’m making this blog mostly for my friends. Going forward, I imagine there won’t be posts nearly as organized as this. If you’re some random internet stranger, you’ll probably find some grammatical errors here and there. That’s simply because my English is honestly utter horse shit, and I’m not doing it on purpose…I swear. So, apologies in advance, but I will be posting newsletters whenever I feel like it. I will be giving my thoughts on certain coins and maybe giving them a short-term swing/long-term hold/never touch ratings. If you make some money off of my trade ideas, then that’s awesome. I’m happy for you. If you lose money, then you’ll know I lost money on it as well. The goal here is for me to be totally transparent and hopefully let’s all build some wealth together. :)