‘Not just Bitcoin price’ — Dan Tapiero shares tips on navigating the bear market
While many beginners base their trades on the negativity brought about by devastating events happening in the crypto space, experienced traders base their decisions on different factors, helping them come out on top — even in a bear market.
Speaking with Cointelegraph, Dan Tapiero, founder of growth equity funds 10T Holdings and 1RoundTable Partners, shared some of his most important strategies to navigate the market. These include having a broader perspective, and avoiding the influence of feelings and people’s fears. Tapiero explained:
The executive also gave examples of sectors within the broad digital asset ecosystem that, according to Tapiero, are not correlated. He explained that last year, $8 trillion in stablecoins were settled, one trillion nonfungible tokens (NFTs) that have been minted and blockchain gaming becoming big. Tapiero pointed out that three years ago, these were all zero.
Apart from these, the veteran trader also pointed to developments in the decentralized finance (DeFi) space and also highlighted that while the space’s locked value went from $200 billion to $50 billion, it also started with zero a couple of years ago.
“I found like, you know, young guys in the space don't have the perspective. Five, six years ago, which is not that long ago, nothing exists. You barely even had Ethereum. It was just Bitcoin (BTC). So, as the space broadens out, the value also increases with it,” he explained.
Related: Blackrock CEO issues dire warning over ‘debt ceiling drama’ — Bullish for Bitcoin?
When asked about what he thinks about community sentiments and their impact on his strategies, Tapiero said that they are able to “see it and sense it,” but he’s not interested in these feelings. He believes that
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