The cryptocurrency world is a place where you can get rich or a hell of making money. The truth is often completely different from what you think. Many people are attracted by the glamorous stories of getting rich quickly, but soon find that the cryptocurrency world is much deeper than they imagined. Today I will reveal some unknown truths about the cryptocurrency world. See how many of them you know?
1. Only a few people get rich overnight, and most people lose money
We have all heard stories of people getting rich overnight in the cryptocurrency world. Hundreds or thousands of times the returns sound exciting. But the truth is that 90% of people lose money in the cryptocurrency world. Those who can get rich overnight are either lucky or have made early investments. The majority of the rest are destined to take over. The market is not there to give you money. There are opportunities, but not everyone can seize them.
2. The banker is the real winner in the market
The rules of the game in the cryptocurrency world are actually set by the dealers. The sudden surges and plunges you see are often manipulated by the dealers. You think it is a "god-given opportunity", but it is actually their layout. When they push up the price, retail investors rush in, and when you chase the high, the dealers have already quietly sold the goods. Remember, in the eyes of the dealers, you are always prey.
3. Those who blindly follow the trend are destined to be cut off
Every time the market starts, there are always a lot of people telling stories, and all kinds of new concepts and new projects are flying around. Listening to others talking so well, many people can't resist the temptation and rush in. But the truth is that most of these "magic projects" are prepared to cut leeks. By the time you enter the market, it is often the prelude to others running away.
4. Market sentiment is the biggest enemy
The biggest difference between the cryptocurrency market and the stock market is that the fluctuations here are too drastic. It is common for prices to soar overnight and plummet overnight. Emotional fluctuations are faster than price fluctuations. Many people are driven by emotions and chase the rise and fall. As a result, they don’t make money, but their mentality collapses first. Controlling your emotions and not being led by the market is the only way to survive in this market.
5. You can make money in a bull market, but a bear market is a test
It is not surprising that everyone can make money in a bull market. The real test is a bear market. When the market is bad, do you sell at a loss and leave, or hold on? Most people cannot survive a bear market, sell at a loss and leave, and finally miss the chance to rebound. Making money in the cryptocurrency circle depends on patience and strategy, not luck.
The truth about the cryptocurrency world is actually very simple: don’t fantasize about getting rich overnight, and don’t be led by the market. Be sober, keep a steady mind, and understand the rules, so that you can survive longer in this game.
