$BTC For Bitcoin, buying deep bear markets has historically been structurally forgiving. For alts, that assumption fails. Buying alts in a bear market only works if the assets you buy remain relevant in the next cycle (data suggests that most alts (~95%) just die). For old-cycle coins, the burden of proof should be very, very high.
The risk is assuming that last cycle’s alts universe is the opportunity set for the next cycle. But it may be better to wait for evidence of leadership rather than assume old leaders will come back, innit? Next cycle’s returns likely come from *new* leaders, not the average previous-cycle shitter.
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The risk is assuming that last cycle’s alts universe is the opportunity set for the next cycle. But it may be better to wait for evidence of leadership rather than assume old leaders will come back, innit? Next cycle’s returns likely come from *new* leaders, not the average previous-cycle shitter.
Chart related