Dear Frederick,

Thank you for taking the time to read my work and once again, thank you for your kind words.

It is not at all unfortunate for you not to have bought any cryptocurrencies, in fact, a well-studied approach is perhaps the most prudent and advisable way forward whenever dealing with any nascent asset class, of which I consider cryptocurrencies one of.

As my firm trades on volatility, we certainly appreciate the times when there are larger numbers of market participants. Certainly whenever there are pumps and dumps, the number of market participants also increases, but many of the trading in those stages also becomes automated, which is where the danger also sets in.

We also actively study the underlying technology and value proposition of any blockchain project whose tokens we actively trade, leveraging the volatility, but at the same time taking note not to participate in what is more likely than not to be manipulated trading.

Short and constrained trading scalps help to take care of that and prevent any long term exposure to any one specific cryptocurrency.

In terms of investment horizon, I have always been short-term biased in terms of trading activity, but long biased in terms of the underlying value proposition of the cryptocurrency.

Trainspotting is also one of my favorite movies and continues to be.

Thank you for taking the time to share your thoughts on the subject and I wish you all the best as you learn more about this exciting space.

Yours,

Patrick