Hello everyone
I am Yudong
As a newcomer in the crypto world, entering the bull market is an excellent opportunity, but high returns come with high risks. As an experienced investor, I have some advice for you: I hope you can make money without stepping on landmines.
1. Prioritize learning to avoid impulsive decisions
• Understand the basics: First, clarify the basic concepts of mainstream coins like Bitcoin and Ethereum, and then learn about blockchain technology, decentralized finance (DeFi), NFTs, and related knowledge.
• Understand risks: The high emotions of a bull market can lead to impulsive actions, but do not blindly enter the market just because you see 'doubling returns'.
2. Start with mainstream coins and proceed steadily
• Prioritize mainstream coins: Bitcoin (BTC) and Ethereum (ETH) are the pillars of the market, with lower volatility and relatively controllable risks.
• Build positions in batches: Do not invest all your funds at once; you can buy in multiple rounds to average out costs and reduce risks from market volatility.
3. Don’t chase high prices, follow the trend
• Avoid FOMO (fear of missing out): When coin prices surge, don’t chase after them out of fear of 'missing the opportunity'; wait for a correction before entering.
• Follow market hotspots: Pay attention to hot sectors in the bull market, such as Layer2, DeFi, SocialFi, and AI narratives, but be careful with highly speculative projects.
4. Beware of scams and choose legitimate channels
• Stay away from high-yield temptations: Do not believe in 'guaranteed profit' promotions; high returns in the crypto world come with high risks.
• Choose compliant exchanges: Prioritize trading on well-known exchanges (such as Binance, Coinbase, etc.) and avoid using investment platforms of unknown origin.
• Be cautious with over-the-counter trading (OTC): OTC trading may involve illegal funds, so be sure to verify the other party's identity and ensure transaction safety.
5. Implement risk control and invest rationally
• Set profit-taking and stop-loss levels: Set reasonable profit and loss ranges for each investment, avoiding greed and attachment.
• Diversify investments: Do not put all your funds into a single coin or project; diversifying investments can reduce overall risk.
• Invest only with spare money: The crypto market is highly volatile, so be sure to invest only idle funds to avoid impacting your life.
6. Maintain a long-term mindset and avoid blindly chasing short-term profits
• Understand the patterns of bull markets: Bull markets are cyclical, always having peaks and pullbacks; do not panic or become euphoric due to short-term fluctuations.
• Focus on long-term value: Quality projects and assets will be more resilient in bear markets, so choose assets with potential for long-term holding.
7. Follow the big influencers and market dynamics
• Pay more attention to KOLs in the crypto field: Follow the views of experienced analysts in the crypto space, such as big influencers' interpretations of market hotspots and trends.
• Utilize information tools: Follow relevant media (such as CoinDesk, The Block), blockchain explorers (Etherscan), and on-chain data platforms (Glassnode) to stay updated on market dynamics.
The bull market is a time full of opportunities, but beginners need to be rational and cautious. Learning knowledge, choosing mainstream assets, and controlling risks are the foundations for participating in a bull market. Remember, the hardest part in the crypto world is not making money, but preserving profits and surviving until the next bull market.
One last point: The crypto world is ever-changing, but only truly valuable projects can withstand cycles. Find them, and you will be the winner!