You can definitely make money in the crypto space, but you must understand: you will never earn money beyond your own understanding. If all you think about is getting rich overnight and are unwilling to learn deeply, then wait for losses; there's a 99.9% chance you will lose.
The market always follows the 80/20 rule, where 20% of people hold 80% of the wealth. The few who can truly make money are scarce, while most are just 'chives'. The crypto world is full of ups and downs, and stories of overnight wealth happen every day, but very few can actually make money and survive. To stabilize your footing in this market full of desires and traps, you need not only strength but also the knowledge of how to avoid pitfalls. The following five hard truths must be learned early to survive longer in the crypto space:
1. Protect your principal to continue playing.
There are many opportunities in the crypto world, but your principal is everything. The market is highly volatile, and if you lose your principal, you are completely out. Even if a bull market comes, you can only be anxious. Control your risks and don't easily bet all your funds; always remember, your principal is the foundation for your survival in the market.
2. Don't be greedy; take profits when you reach your target.
If you reach your expected goal, you should decisively take profits. Many people lose out because they wait for 'just a little longer', only to find that what they are waiting for is a crash and a retracement. The temptations in the crypto world are too many; when making money, you need to know when to stop, and that's the survival skill of the experts.
3. Refuse to follow the crowd, make independent judgments.
Market sentiment is unpredictable, and a single piece of news can cause prices to soar or plummet. Learn to research on your own and make independent judgments; don't blindly follow the crowd. Only projects you truly understand can be held firmly, allowing you to withstand volatility without being shaken out.
4. Control your positions, invest steadily.
Diversifying your funds is always the key; don't put all your eggs in one basket. Reasonably control your positions and spread your risks to cope with market fluctuations, avoiding being eliminated by a single mistake.
5. Stay patient, don't be swayed by the ups and downs.
The crypto market is highly volatile, and short-term mindsets can easily fluctuate. Don't let temporary ups and downs affect your operations. Find truly valuable coins and patiently hold them long-term to realize genuine returns. Remember, bear market layouts and bull market harvests are moments that test your patience.
The opportunities in the crypto world are endless, but only those who understand risk control, insist on independent thinking, and are not easily swayed by market emotions can stabilize their position in this turbulent sea.