There Isn't That Much Alpha in the Market: 17 Truths About Crypto Markets
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There Isn't That Much Alpha in the Market: 17 Truths About Crypto Markets
17 Truths About the Cryptocurrency Market You Should Know to Better Understand the Market and Find Alpha
Navigating Web3 tides with focused insightsWritten by: Covduk
Translated by: TechFlow intern
Here are 17 truths about the cryptocurrency market you should know—insights that can help you better understand the market and uncover alpha:
1. Markets don’t repeat, but they rhyme. Old narratives fade; new ones emerge. Stop chasing the old—start hunting for the new.
2. Retail investors sit at the bottom of the food chain:
• Projects
• VCs
• KOLs
• You
Crypto is like the Wild West—people are out there hunting you. Learn how to spot information asymmetry.
3. Nobody knows what’s coming next. Waiting for gurus to lead you to profits is pure fantasy. Build your own framework for buying and selling assets. Without one, surviving a bear market will be tough.
4. There is no script for crypto. We tend to deeply trust indicators and valuation models. Used wisely, they can help—but they won’t determine crypto’s future direction.
5. Memes are everything. We’ve seen it too many times: Doge, Goblintownwtf—the communities form around memes. Don’t underestimate this culture.
6. Regulation is inevitable. It’s coming, and it might actually be good for crypto.
7. The illusion of alpha. People spend endless time hunting for alpha, but the more you do, the more wrong you’ll be. There isn’t that much undiscovered alpha waiting for you.
8. Crypto is too broad for one person. There’s too much to do, too much to learn. Mastering everything is impossible. Form teams, focus on what you’re best at.
9. Nothing is risk-free. In crypto, risks are substantial. Most projects fail. Understand where value comes from and conduct proper risk assessments before investing.
10. Cryptocurrencies are highly correlated. Altcoins, ETH, and BTC usually move in the same direction—with BTC often leading. When picking altcoins, pay attention to BTC’s trend.
11. Many tools can help you. Learn to use them. Tools like Nansen, Dune, Tokensniffer, Debank, and Etherscan provide immense value if you know how to leverage them.
12. Watch how others react to the market. People spend so much time trying to decode what the market is saying, yet ignore how investors are actually responding.
13. Investors/Venture capitalists aren’t inherently good or bad. They accelerate both market growth and collapse. Blaming them entirely makes no sense.
14. Don’t blindly trust VCs, KOLs, or OGs. They can be wrong too. Don’t be dazzled by their status—they’re just people. You can become one of them.
15. We’re still early participants in this space. Crypto is still small. Most people still think we’re playing with virtual money. Bear markets cut out half the noise—you’re still here. That means opportunity.
16. Bear markets show us that most underlying technologies work well. Technology comes first—improvements and optimizations are coming.
17. Crypto conversations happen beyond Twitter. Many assume crypto is only alive on Twitter, but vibrant communities exist on YouTube, Reddit, and elsewhere. No one has all the answers—stay open to others’ perspectives.
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