For the first time ever, I caught close to the bottom of one of these overnight dumps.

Added BTC, ETH, SOL and LINK around midnight last night.

Who are the top investors in this destructive industry?

Berkshire Hathaway, Vanguard Group, Blackrock, State Street, and Bank of America.

Charlie Munger and Warren Buffett attack Bitcoin as "rat poison" but they sell literal poison to the world's most vulnerable populations.

— Alex Gladstein 🌋 ⚡ (@gladstein) December 4, 2021

Fiat standard rat poison.

GrapevineAg said:

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administrative errors said:

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As crazy as this #crypto crash was, it is this pixel here pic.twitter.com/IDWVykCUTk

— Benjamin Cowen (@intocryptoverse) December 4, 2021

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That's a bit deceptive due to the logarithmic y-axis, but I'll allow it.

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Given that the trend is logarithmic since forever, don't you think plotting it on a linear y-axis would be more deceptive?

Seems to be a lot of good buying opportunities right now. Always hard to see the 20-30% drops over the last 7 days and think that it can't possibly go any lower... And yet, it definitely can.

If this is the beginning of the next down cycle, just a few thoughts from what I personally saw in my portfolio over the last 6 months (since the May crash earlier this year and the rebound):
(1) There were points in May and June where I didn't even open my portfolio because of how far negative I was (50% at one point...). I over committed and lost my butt.
(2) I got in on 2 of the 4 major hype trains (that I was aware of... Doesn't include doge) and made good money; ADA and ENJ absolutely killed it for me but I missed out on SOL and LUNA. Lots of hype led to a few tremendous weeks for each but relatively consistent with other cryptos when hype died.
(3) ETH and ATOM were good for steady and consistent growth this cycle.
(4) AAVE, NMR and ETC never materially recovered during this cycle.

The 2 coins for me over the last 6 months (with realized gains for both at over 3x) were a mix of good technology/hype (ada) and a fiesta coin (ENJ; although not as "fiesta-y" as a doge or shib).
The 3 coins for me over the last 6 months that did the worst (not a ton of meaningful movement, especially compared to growth 6 months ago) were 2 highly recommended and technology-friendly coins (AAVE and NMR) and one fiesta coin (ETC).

All that said, a couple things I've been recommending to friends just starting to get into Crypto.
(1) it is ok to take some of that profit when you find a horse. You may believe that a coin is a "lock" to reach 10x, 100x, 500x, etc., (so why sell?) but that doesn't mean you can't make some money in between these cycles and lower your cost basis. It is a great feeling to have taken some of your profits; if the coin continues to go up, you are still invested and making money; if the coin goes down, you are provided more opportunity to lower your basis by reinvesting with the profits you already made from the coin.

(2) just because you sell, doesn't mean you need to reinvest that money immediately. As of a week ago, 50% of my portfolio had been converted to cash. I'd love to take credit that I "timed" the recent downturn but it was really just gradually taking gains as the market increased and not stretching myself and containing my "FOMO" when prices or trends were a bit too sketchy for my interest.

(3) there are no guarantees at this point; even the coins with good technology and that come highly recommended by the crypto gurus sometimes won't follow through on the next cycle. Still a crapshoot for most coins at this stage.

Not sure if any of this is helpful but was nice to type out and get my thoughts on paper.