Thanks for sharing it's an interesting situation, I also do feel sorry for the guy, but there is another important message here. I know he was mainly invested in shitcoins, and was very good at picking out projects that were undervalued and performed well, but seems like he held a lot through the past 6 months continuing to believe they would outperform Bitcoin while rarely taking profits, and the likelihood is half of them didn't, given that shitcoin dominance remains at it's highs as opposed to gone higher. Hearing that he held Chainlink all this time was somewhat sad to hear, it went up 20x in 2020 against BTC after getting into the Top 10, but now 75% down and struggling to remain in the Top 20. It's personally the coin that I most aggressively sold satoshi profits on in 2020 and now only hold 1.5% of what I did after selling half of it about 6 times, because I had no emotional attachment to it.... It's now hanging on by a thread at the 200 Week MA against BTC and clearly has the potential to drop 90%, just like Solana, Luna and others that had their 50-100x rises. That said, getting all out of a shitcoin at a 5x before price crashes 90% or more, during it's first cycle, is better profits than selling 2x at every double for sure, but naturally feels very different, even deafest I imagine. For example taking 50% profits, then price dropping/pumping, then 50% more, then price pump/drops, rinse & repeat, feels like a good strategy. Getting all out after a 75% drop must feel awful, even if more profitable.
This video was also a stark reminder of how parabolic the shitcoin market has become, how "expensive" many of these coins have become, so many examples out there right now. Some have already retraced 75% and look like they can do it again, for example Link and Doge, while others haven't even begun their retracements yet. The fundamentals appear obvious that Bitcoin dominance will bounce back from 40% to 50%-60%, now that it's 200 Week MA has finally shed it's bearish bias and flattened out for the first time ever (which took 3 years), whether this is from a recovery and bull market (I assume) or a bear market (less likely). I know I've been saying this since May and again in September, but I'll reiterate it this month, even if the technical picture of a descending triangle looks bearish. Shitcoins are overdue for considerable carnage.
Furthermore, while I see enough analysts comparing current prices to $3K or $5K in 2017, if they are right and Bitcoin prices make new ATH in the near future, because this is the middle of the cycle, then it stands to reason the same event will occur when Bitcoin goes up by X amount, along with it's dominance, while shitcoins get dumped for fiat or BTC. It also seems that many shitcoins investors (that are weaker hands) will feel the same as Chico Crypto if Bitcoin goes lower, and with the crypto market 60% invested in shitcoins as opposed to Bitcoin, I can imagine the obvious result for a further correction. BTC dominance will continue to climb as newer shitcoin speculators dump their bags for fiat, while longer-term shitcoin speculators take their profits (or newly found losses) back to satoshis, as they have been doing for the past 6 months.