It's incomprehensible! In this market! A generation of investors (let's call them that) has emerged, but in reality, they are all people eager to get rich quickly, who have learned a bit of skills and techniques. When the market turns green, they post photos everywhere, then they go anonymous and make statements. It's really surreal. Those who have gone through and survived one or two cycles will understand how fierce it can be!
With two cycles of being taught a lesson! Getting slapped in the face in this market, there were times when my account was at its peak, I went through phases thinking I was a genius, a prodigy. Chasing after those green and red candles, when it was green, I'd check the chart every 30 minutes to admire and indulge myself. When it was red, I couldn't sleep, checking every 15 minutes, unsure whether to hold or cut (most of the time, holding until death).
I also once chased after and even fully committed to flashy projects (without any knowledge). From the lending-ICO phase to the Bitconnect phase... thinking I'd found the ultimate secret to compound interest. Just keep multiplying for real! I still remember the mantra—invest in 10 ICOs, win 1 is a success. Yet in the end, I found nothing but 'eating dirt' or spreading investments around!
It's easy to listen to KOLs shilling coins very persuasively, their arguments are very logical. They even quote CZ: 'If you can't hold, you won't be rich.' In the end, holding to the moon is rare, while holding to dead is common (without knowledge, everyone holds the wrong coin).
So now I've drawn a few valuable lessons from this. I hope it can help someone!
1) Money is yours. Invest based on understanding. Don't invest based on trust or FOMO. Don't think that what influential people say is guaranteed. Even Mr. Beart has been involved in 'scandals' regarding shilling coins!
2) The most valuable investment is investing in your own mind. Seek knowledge, the insights, and experiences of those who came before you—don't just follow the crowd blindly, or you'll bring misfortune upon yourself.
3) Money is easy to make in this market, but it can also be easy to lose! If you don't have a solid foundation, collapsing a 10-story building will cause much greater damage than a single-story house. So whether you have a lot of money or little money, there's no need to worry. It doesn't matter where you start from! What matters is when you reach the finish line.
4) Know how to protect yourself!!!
It's not just about holding money! It's about holding onto yourself. I know many people who, after making money too easily in this market, got caught up in all-night parties and vices until it was too late to realize! (Some haven't even woken up yet) It's truly heartbreaking.
5) The difference between successful (sustainable) investors and those who are long shots and post every night is in their 'vision-thinking-skills-knowledge'. It's not just about knowing how to place orders! A few months ago, I read somewhere about a guy who has been DCAing continuously for 3 years with just $10 a day! (the accumulation mindset) and now he's reaping the rewards. That's impressive. I admire those who have the mindset, vision, and perseverance to stick to their path. I've held coins for a long time now, but I've only been DCAing for 5-6 months. Meanwhile, young people just post a few pictures of someone and make grand statements as if they were true, or make claims without any basis—please! This market is already fierce enough! (But those who bring joy to the community, keep it up!).
Advice: Keep learning, upgrade yourself. And DCA according to your capacity (I can't predict the ups and downs, but this market still has very long-term potential).
And know how to be afraid! Be afraid of the market, be afraid of losing money, and be afraid of your own desires!
Wishing everyone luck and success in this stormy market!