In the past two days, the price of BTC fell to US$58,400, a drop of 10 points in a single day. The current price is US$61,500. It goes up and down. If the contract is opened in the right direction, everyone is happy, but if it is opened in the wrong direction, the profit will be zero.
One of our group members was feeling quite depressed. The direction of market fluctuations has been difficult to predict recently. His contract was liquidated and all his profits in the first half of the year were returned to the market.
There was another group member whose contract direction was very stable and accurate. He grasped these fluctuations and earned 1 BTC in 2 days.
Contracts accelerate profits and losses. If you can grasp the market, you can magnify your earnings. If you make a wrong judgment, you will return to the situation before liberation overnight and your orders will be reduced to zero.
In the extreme market conditions of the past two days, the contract market liquidation amount reached $293 million, and 64,648 people were liquidated.
On Twitter, I see various players posting their contracts. If they win, it’s all good for everyone; if they lose, they get all angry. You can feel the madness and irrationality of the “gamblers” between their words.
It is impossible to judge which way of playing is better. Everyone is pursuing the same goal. Some people seek excitement, while others want to be friends with time.
Chuxiaolian has been in the circle for more than three years, but has never had an aggressive approach to operations, does not have sufficient operating funds and skills, and his balance has increased slowly, and he has not become rich overnight.
You can experience the slow increase of your balance of 100u one by one, without having to bear the powerlessness and regret of losing 10wu at once.
I choose the slow is fast approach and interact in the crypto market for the long term.
Summarize the ways that group members have made money in the cryptocurrency circle that I have seen recently.
Contract player.
The profit or loss of a contract in one day is tens of thousands of dollars. If you lose, you can cover your position, and if you lose, you can try again. If you are lucky, you can double your money in one day. Some players with small capital may passively lose everything if they want to go all in and make a quick profit.
It is indeed very difficult to enter the crypto market without capital, and the accumulation from 0 to 1 requires a long process.
Interactive airdrop players.
Some group members who continue to explore and interact on the chain receive airdrops from time to time. Although the amount is small, they continue to receive income.
Of course, we continue to invest in interactive gas fees, but airdrops support the next exploration, which is also a positive cycle.
For example, in the ZRO airdrop a few days ago, many people who specialized in L0 interaction did not receive any airdrop income, and it is becoming increasingly difficult for studios to get rich by taking advantage of airdrops.
A group member explored the on-chain layerzero ecological project on his own, without any special interaction with Layerzero. Several accounts received more than 200 ZRO airdrops, with a cumulative profit of 6,000 US dollars.
Players who hoard coins in the secondary market.
Some group members also play by hoarding coins and going long on the coin standard. They buy more when the price drops, hold coins for financial management, and do not think about getting rich overnight, but wait for the market to take off day by day.
These players continue to invest, buy low and sell high, waiting for long-term returns; the returns are slow and the risks are relatively small, so they can be friends with time.
Of course, it is also possible that they became the buyer. After all, there are so many projects now that do not buy from each other and each one is pulling the price up on its own.
There was a group member who happily shared that he earned his first 1 million yuan in the cryptocurrency circle.
This friend entered the market with 2wu three years ago. He hoarded coins, bought local coins, opened contracts, and took advantage of airdrops. He worked diligently along the way, and finally accumulated his first balance of 1 million in three years.
With less than 14wu, it ranks at the bottom of the entire crypto market asset rankings, but it has not lost all its money on the contract. Switching from a traditional industry to the web3 market is also a good result.
The crypto market is a long-term game, and the account balance at each stage is just a number;
Opening a contract may result in a margin call and the value of the position may be zeroed out, and hoarding spot coins may result in the value of the project being zeroed out. Even in the entire crypto market, there is huge uncertainty, but there are risks in every industry.
Don’t worry about how much balance others have, the one who can hold on to it is the winner; the crypto market magnifies opportunities and risks, and it is destined that only 20% of people will earn 80% of the returns.
The above is just my personal opinion, not investment advice. I am Chu Xiaolian, and I am paying attention to the crypto market and web3.
