Back before the upgrade, the group was guessing every day which project would run and which would tough it out. I had already cut my position to 30% of normal, took a look at the on-chain data—active addresses were dropping faster than the price—so I stopped guessing.

When it comes to buying the dip, you first need to confirm you're still in the game. I've seen too many people who, when the bottom really comes, have already spent all their bullets on the "cheap" prices halfway down the slope. With this liquidity, it's basically a game of who wears out who first, and I don't want to be the one worn out.

After the hard fork, whether the ecosystem migrates and how much, it's not too late to follow once the data comes out. Anyway, I may not be fast, but I need to be able to get out.