Crypto Winter Part 2? Not Even Close.

Note: This is based largely on a dispatch I am sending to readers of a paid, investment newsletter I write. But the topic — the crypto price downdraft this weekend — is something that impacts my readers here, too. So, I am posting this version, with some slight variations.

Well, I went and put my money where my mouth is.

As the crypto market lost altitude over the weekend, I stepped in with some idle cash to fill my bag with Solana, one of the high-profile cryptocurrencies I use as a medium for trading NFTs. The projects I am most interested in all trade on the Solana network, and I saw a chance to buy the currency of that realm for less than $100 per token. In recent weeks, Solana has been in the $200 range. It will see that range again — and likely much more.

To me, then, buying amid the blood-letting was like buying US dollars at a discount.

But this really isn’t a story about Solana. And it’s not a recommendation that you follow my footsteps and grab your own bag of Solana.

Instead, that money-where-your-mouth-is comment is an apropos intro into a dispatch about crypto opportunity masquerading as volatility.

First, we are not in a bear market for crypto.

Yes, bitcoin is down roughly 50%, and by traditional, Wall Street measures that is a bear market. But crypto isn’t Wall Street. Metrics and motivations are very different. Moreover, bitcoin, Ethereum, Solana, and a host of other cryptos can…