64. Can you really make millions from meme coins in a bear market?

A lot of people try and build this token over the last number of years and for some reason, this was just the right time in the right place. And it took off, right? It takes off the Wall street bets, the crypto bros. Twitter takes off. Everyone piles in, everyone gets really excited and there's a lot of money to be made, but there's also a lot of money to be lost. And most people lose. People lose because they gamble and they speculate. And the real value behind these things is not much fundamentals and more just against speculation and hope. Right. And fomo, it's a meme.

So there's hardly any utility, but, well, there's no utility behind it. The reality is these coins take under an hour to make.

Welcome back to another episode of the Benneberg show with your favorite MBA and high school dropout talking everything, crypto, business, personal growth. And today we are telling you why. Now is the time to get your crypto portfolio sorted on the cusp of, of the downward slope to the halving, which is one year away. And over the last week or two, we've seen massive volumes piling back in around the meme coins around Pepe, which at a fundamental level just goes to show you the psychology of crypto and how quickly things can change. Which is the exact reason why you need your strategy set up today before we go into a bull market. Because 80% of people I've seen over my career in crypto and since running Collective Shift, don't have a sell strategy, don't have a portfolio strategy, go into a bull market, which is absolute chaos. For three or four months you look at your portfolio and you think you're mega wealthy and mega rich, but yet you don't take any profits because you think you're going to get double mega rich because you don't have a sales strategy. And then we have a blow off top and crypto tanks 30% and now you're panicking because you didn't sell. So you don't sell because you wanted to go back up. And then it tanks another 20% and all of a sudden you're down 60%, you've done nothing and you're back into a bear market. And I've seen it happen over and over and over and over again. That's why today. Ladies and gentlemen, this is a public service announcement from Ben and Bergs on behalf of Collective Shift to get your portfolio sorted. We're going to talk about that today. But first of all, burgs, how are you?

I'm going well. Mate, and honestly, just when you were talking there, I remember the last couple of market cycles, all the mistakes I've made. And folks, listen to this episode so you get it right and you don't make the mistakes that Ben and I have made.

Yeah, spot on. So today we're going to talk about meme coins and we're going to talk about having a strategy. Right, so stick to the end, we're going to talk about having a strategy. But to start with, let's talk about the meme coin. So, Pepe Dogecoin, you had another one. Burgess Gensler. Gensler coin. I've seen Ben Bitboy, he started Ben token this week. It's all happening. There's tokens coming out of everywhere.

It's crazy. It is absolutely crazy. And look, this is a symptom of people being bored. NFTs are down 90%. The communities aren't doing much. They're in in quotes building mode. They don't have the meetups, there's no real price action and people are bored. They want something to do, they want something to be excited about and something that is moving, something that can give you a return, something where communities are getting around it. That is what will have people's attention. And if it's got the attention, then money will flow after that. And Ben, those coins, what do they actually do, mate? Why do they exist?

They are just. They're representations of human emotion and psychology and speculation and gambling and also culture, online culture, right? Pepe is a meme and there's been a lot of people trying build this token in the last number of years. And for some reason, this was just the right time and the right place. And it took off, right? It takes off the Wall street bets, the crypto bros, Twitter takes off. Everyone piles in, everyone gets really excited and there's a lot of money to be made, but there's also a lot of money to be lost. And most people lose, right? People lose because they gamble and they speculate and the real value behind these things is not much fundamentals and more just against speculation and hope, right? In fomo, it's a main thing.

There's hardly any utility, but, well, there's no utility behind it. And the reality is these coins take under an hour to make. That's it. It's a lot of copy pasting, putting up a website, bit of marketing and then funding it so you can actually trade the thing. And we see these things where someone sold a board ape and then took all of their profits and put it into Pepe. Coin and you step back and you think, why would someone do that? One, they could be stupid. Two, they could believe in Pepe Coin. Again, stupid. Or three, they're already holding a massive bag of Pepe Coin. They then sell one of their assets, move it across. That's going to be a loss leader. But what they're doing is paying for marketing. So more people see it and barrel into Pepe Coin because a bored ape owner did it. Then they offload those bags to you and they make a ton of money and they can buy back more apes.

Yeah, spot on. And usually at the peak of this emotion, this, this fomo, this greed is usually the top of the market. And I put out a post on Monday about, you know, why I thought.

Buying Meme coins is not a good idea. Yes, it can play in a part of your portfolio as a very, very small percentage, but you need to be really careful. And if you're overexposing yourself, you can open yourself up to big losses. And these, these tokens move very quickly up and they move very quickly down. In the last week, Pepe coin is down 60% from its highs and a lot of people would have piled in around at that top. So you do have to be really careful and you hear the good stories. There's very few good stories. You think about a billion dollar market token. There's a lot of investors in this market. Very few are making money. Right. And trying to make that money that quick. The psychology is like winning the lotto. What happens when you win the lotto? Very high chance you become homeless, you lose all that money.

It's to actually take advantage of this, you need to be very sophisticated. So you need to have all of your accounts and trading set up. You need to know how the software you're using works. You need to understand the mechanics of the token, how the liquidity works, how the buy and sell works, the order books work, whether you're trading on a decentralized exchange or what the slippage is like, what the costs are like, and then also manage your own risk around that. There is so much to consider and nine times out of ten you will lose money. And you're trying to catch a falling knife.

Yeah, spot on. One what we prefer to do is buy good assets and hold them a long period of time. And we say this all the time for our collectorship members. You want to hold at least 50% of BTC and ETH and then you have some altcoins in your portfolio that are good sectors that we believe are Going to have more value and more people invest over a long period of time. This is where it comes into having a strategy. It's very easy to buy crypto, it's very easy to shoot from the hip and listen to your favorite influencer talk about a token. But all of a sudden you wake up with 25 tokens in your portfolio, 18 of them, you don't know what they do. And in a bull market, it's complete and out of chaos. So what you really want to do is you want to audit those tokens, you want to think about what you have in your portfolio. For collective Shift members, if you're not one, I'd highly recommend signing up because we have a portfolio analysis tool and you can plug in the assets in your dashboard and we give you a breakdown of the different sectors your altcoins are in. Because if you own, let's say, Ethereum and then you own altcoins such as Uniswap and Sushiswap, these altcoins are on Ethereum. These are leveraged positions. Not only do you need the token to win, but you need the blockchain to win. Right? And our portfolio analysis tool will break it down and show you the different sectors that you have. Then what you can go is you go deeper into each of those altcoins. So you can go deep into the altcoins. And we have just recently launched the Shift list where you can go and research up to 20 altcoins that we have personally reviewed and have a live rating on where we've gone, you know, from very bullish to bearish to neutral. And then you can go even deeper and see all the research we've created on that token. Then you can understand what it does, because we simplify how it makes money, what it does in a bullish and bearish analysis. So for those of you that are time poor, that don't have a strategy, that actually want to succeed in this next bull market, it's time to set up that portfolio strategies. Now. It's time to, it's time to get in there and you don't need a lot of time. We've done a lot of the work for you. And this is a great area that we've helped a lot of people get themselves set up. And we're really passionate about this because so many people just don't win. They go into a bull market, they're not set up, not prepared burgs like we were the first time around.

That's exactly it. Like, we've literally built the tools that we needed and this thing is very simple to set up and I like it because it takes under a minute to set up and immediately you see where you are allocated across sectors which was very eye opening for me as well because I was just doing this in Excel or use crappy software. It just didn't work right. And now I know that we've just released the shift list and then shift reports as well for pro members which will have the different altcoins, the reports on them and how to prepare yourself at this stage of the market coming up to the halving next year. Which is very important because the reason we're saying all of this is yes, we work for collective shift, but think about where we are at in the market cycle. A lot of people are bored, we're still in a bear market and the attention is going towards meme coins and you think about all the attention on one side of the boat, that boat is going to tip. Where are you and what should you be doing? Do you want to be on that side with all the meme coins or do you want to be on the other side looking at your portfolio, getting your house in order, understanding your position and then executing, you know, week after week from now leading up to the halving so you can take full advantage of it? I certainly know where I want to be.

Yeah, spot on burgs and what you need to think about is a dollar cost averaging out strategy. So it's very easy to dollar cost average in, but you want to have a DCA out strategy where you're setting up targets even in a spreadsheet or a piece of paper where you're setting up targets for those different tokens and what targets you will sell at. Now you don't want to look at the token price because the token economic exchange you want to look at the market cap and how large you want that market cap to grow to before you start taking chips off the table. And, and a lot of people think you just need to get all in or all out but usually the right thing to do is to take a percentage off as the market continues up. So if you take off 20% at X price, if the market continues to rally, you've still got skin in the game and you haven't taken all of them off. If it doesn't hit your next target and it goes back down, well, you've taken 20% off, right. So you're sort of playing with a foot in both ends. So it's important to sit down, spend that time. It won't take long. But I guarantee if this is your first cycle, bull markets are face melting. It is insane, it's euphoric, it's unbelievable, it's amazing. It's so much fun. But it's not that much fun if you don't actually get anything out of it.

And what I've done is I've actually gone a level deeper than that and looked at, okay, what returns do I want for the money I'm investing in crypto. But one level further, why do I want this money? What am I actually going to do with it? What is it going to do for my life? And then I've actually articulated that and written it down. So when those targets hit, I will be selling and I'll be laddering out, because I need that money to then fulfill the things that I want to do. It's not this amorphous thing of I need X amount of money or X amount of percent, because when you hit those, there's no emotional attachment to it. You're not actually getting something out of it. You just want to let it ride and it's hard to execute. But even if you have just, just a plan where you're like, okay, for me to get from, let's say I put a thousand dollars in, my goal is to get to $2,000, and I've invested in three things. What needs to be true in those things? If something needs to double, okay, what does that market cap look like? And then when I get to that point, people just want to be like, I want to get to 2000 and I'm out. But when you're hitting those and Bitcoin's going up a thousand dollars each day, you need to say, okay, at this price point, I'm going to reduce 20%. The next one, another 20%, and another 20% on the way up. So you're laddering out and you're getting those gains.

Yeah, I love it. I love that. Real, like, it's more than just a number. It's a. It's a benefit. It's a change in your life. It's something that is going to benefit you and what you're going to do with that money, you're putting something tangible next to it, not just a random number on a screen. I actually like that. I want to do that. It's a good idea.

Oh, it makes it so good, because then you can unlock that thing and you can live it. And it's something that you get rather than having more money in your bank because it's Just numbers that you're unattached to.

Yeah, brilliant idea. Now the halving as we mentioned is coming up in less than odd. Yeah, it's less than 12 months away. Right. Then historically this is where the bull market start to come and come and go. Around the six months either side of that, we've got some macro economic conditions that will play into that. But it's, it's played, it's played in every time. And I think for the rest of this year we could get little bit choppy with the markets and everything that's going on with the economy, but next year's going to be an exciting time. So it's time to dust off the portfolio, get back in there if you need some help. We offer one on one personalized crypto strategy calls when you can jump on a call with either myself or one of our team and we help you get set up, we answer your questions, we work through where you're trying to get to in crypto and we personalize our onboarding experience so we can give you the most value and get you set up. It's completely complimentary so you can jump in there. There's limited spots each week, so jump in and fill out some details and there's a little calendar where you can book a time. We'd love to, love to chat, love to see if we can help you out.

Absolutely. And that's it. Our goal is to get people into crypto, understand this asset class and you know, help you on your journey and get you to where you need to go. And just doing these little things like these little lessons that we've learned and having a sounding board for your strategy and talking through things and people that have been through, it just helps so much. I've actually done it with the team as well and it's helped me and all of my thinking and it's been incredible and I feel a lot more comfortable and I'm actually very proud of the way I am structured and set up leading into the halving.

Well, yeah, we're investors ourselves, right. That's, you know, the only way we make money and company is through our members winning where we only run off subscription fees. That is our model. We don't do advertising, we don't do affiliates. When I get paid to promote tokens right here to sell you a token or crypto, the only way we win is if our members win. And that's, I think that's been a core of our success. So that's our track record. We live and die by that and we'd love to help you out. So you can head over to collectiveshift.IO forward slash strategy. The link is in the description. Absolutely no obligation. 15 minutes, jump on and we'll no doubt be able to help you out.

Love this episode, mate.

That was good, wasn't it?

Yeah.

If anything, team, thank you so much for listening. And if you've got a friend or a family member that's in crypto, that doesn't have their strategy set up, that just needs some help, maybe they've piled 15 each into Pepe. Right. And they're down. Send them this episode. We really want to help them. We need to spread the message. We need to spread the good content. There's so much rubbish out there. Influencers promoting all sorts of nonsense. It's time to put the good word out there. We'd love for you to share this with a friend. It's how we get the word out there. Thank you very much for listening. If you'd like to hear more, we'd love for you to check out other episodes. Also, you can tweet at us at Ben and Bergs on Twitter. We still have a total of four followers. Please. You get to 10, that'd be amazing.

But Bergs, thank you so much, man. Good episode. We'll see you next week.

See you, champions.

See you guys.