Respect to anyone who stayed in crypto through > COVID panic > Terra collapse > 3AC contagion > Celsius & BlockFi freezes > FTX disaster > Banking shutdowns > SEC pressure > Macro chaos If your portfolio still looks cooked, you’re not alone Surviving all those black swans shows real resilience, but the real test is managing risk through them to keep the portfolio intact Most get wiped not by the events, but by the emotional trades during them So Unpopular view If a portfolio looks worse than all of those macro and structural shocks combined, the issue is probably not the events It is positioning, sizing, and narrative chasing Cycles expose leverage and concentration more than they punish patience Imagine the pump after this phase Can u manifest?(Justin Wu)