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Phenom Ventures Founder on Real Vision™️

Eric talks with Real Vision on investing in crypto and gold.

Crypto Corrections: How to React

Crypto’s been a bloodbath this week. BTC, ETH, all down by 10% plus. Altcoins? Took a nosedive, 20%-30% gone. NFTs and those beloved memecoins? Slaughtered, 10%-40% off. Tables flipped.

But these drawdowns can be scary but they area a great opportunity to take a step back and evaluate. Here are a few questions I ask during these corrections:

1. Did my thesis on this change, or just the price? Take tech giants like Google, Amazon, Facebook—stellar businesses, but their prices have tanked before (Facebook nosedived 70% in 2022). Does that make them worth less? Nope. If my investment thesis in a crypto project hasn’t changed I double down and add to my position.

2. Am I just passing through, or am I here to stay? Crypto’s like Miami in spring—swarmed with tourists when it’s sunny (aka prices soaring). Storm hits (prices tank), and poof, they’re gone. Locals, though? We ride the waves, through every season. If you are a crypto local take a broad view and ignore the volatility.

3. Is this a crypto crash or a clearance sale? Love this meme—when the market’s hot, we’re kicking ourselves for not buying more on the cheap. Then it crashes, and we’re too freaked to snatch up the bargains. Most freak out; the legends see a fire sale.

BlockBuzz™️

Quick Hitters from the week

• AI Tokens Buck the Volatile Market Trend: Show gains amid broader cryptocurrency market fluctuations.

• Solana Overtakes Ethereum in DEX Volume: Boosted by the meme coin craze and superior capital efficiency.

• Giant Pension Fund Considers Bitcoin: World's largest pension fund eyes bitcoin for its investment portfolio.

• Fidelity Updates Ethereum ETF for Staking: Amends its spot Ethereum ETF proposal to incorporate staking benefits.

• Standard Chartered's Bullish Bitcoin Outlook: Forecasts a year-end BTC price of $150K, with a potential rise to $250K by 2025 and significant inflows expected from an imminent ether ETF.

• Base Network's Transaction Boom Post-Dencun Upgrade: Experiences a significant uptick in transactions and user base.

• Lengthy Prison Term Looms for Sam Bankman-Fried: US prosecutors push for extensive jail time, with sentencing scheduled for late March.

• Vegas-Style Publicity Stunt Warning for Memecoins: A cautionary note on the fleeting appeal of high-profile crypto advertising campaigns.

The Twitterverse

A collection of the most interesting stuff on Crypto Twitter this week

WAGMI

For the Crypto Culture

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.