The article discusses the concept of identifying and profiting from ‘cults’ in the cryptocurrency market. The author suggests that the key to making money in cryptocurrency is to identify these cults early before they arise and cash out near the top. The article emphasizes the importance of understanding the psychology of the market and the traits of potential cult leaders. It also provides tips on how to spot a good cult leader and how to make investment decisions based on the potential for a pump.
- Understand the Market: The author suggests that understanding the “mass desire” and quiet desperation of the market is crucial. This involves understanding the psychological and monetary conditions that can entice a mass of people to invest in a project.
- Identify Cult Leaders: Spotting the ideal cult leader is essential. The author suggests looking for someone willing to make bold statements, take risks, and enjoys being in the limelight.
- Profit from the Ponzi: The author advises riding up the Ponzi, adding fuel and fire to the cult, and spotting the key moment when the Ponzi cannot sustain itself any longer. This involves understanding the mechanics that fuel the Ponzi and how and when it will collapse.
- Preserve Gains: The author emphasizes the importance of cashing out in parts to preserve gains. It’s only your money when you’ve cashed out of the position.
- Always Look for the Next Opportunity: If you missed out on a recent pump, don’t worry. There will always be another cult or pump to take advantage of.