Thread by @JackNiewold

This tweet from my friend @knowerofmarkets definitely got me thinking this morning.

Is it true that there's no place for long-term investors in crypto?

(mini-thread)👇

https://twitter.com/knowerofmarkets/status/1482871440932327428?s=20

Take the Curve Wars.

Crypto Twitter, for the time being, has moved on to other things.

That doesn't mean that the fundamental conditions behind the Curve Wars have disappeared.

CT (and its childlike attention span) has moved on, but the fundamental value in $CRV still holds.

Meanwhile, ST investors are rotating out of it, riding the wave from MAYBE $3 (if they got in early) to $5ish.

While the LT holders don't sell after buying at $1.50.

People like @noahseidman have been talking about $CRV for ages. That guy NEVER sells.

https://twitter.com/zhusu/status/1481437258565959680?s=20

So ST traders leaving puts the advantage back to long-term holders.

Traders/flippers/rotators chase narratives and market sentiment.

Investors chase long-term market efficiency. These are the rare 100x's you sometimes see.

The short-term trade is often crowded and leads to lots of people getting burned as the pump fades.

While long-term holders are comfy and convicted.

LT investors, if I had to guess, often come from traditional finance markets where holding periods are many dozens of years.

Crypto is rife with market inefficiency, that's one reason it's so much easier to make money here than in traditional markets.

And you can often find something that's undervalued/not priced in with crypto assets. That's a lot less common in TradFi.

My point is, this game will take place across many years and hundreds of iterations.

Crypto Twitter leads to mass FOMO and lack of conviction.

Do you want to beat your favorite influencer? Or do you want financial freedom?

Find LT holds, not quick flips.

Those are my thoughts.

Dumb money flows to smart money.

Coins go from weak hands to strong hands.

Markets get more efficient, not less efficient.

We are early. There is plenty of time.

I had fun writing this thread and thinking about @knowerofmarkets tweet.

What do you think? Do you agree? What am I missing?

Please drop a reply and let me know.