I didn’t pay much attention to the crypto market during my vacation some time ago. The market went up and down, and my account balance was sometimes high and sometimes low.
When I introduced what cryptocurrency and blockchain are to my friends outside the circle, and discussed how to make money in the crypto market, I couldn't give any effective advice.
If you don’t have too much time to watch the market, don’t participate in a MEME at the first time, and don’t play contracts, it’s not easy to double your money quickly.
In 2009, the Bitcoin program was launched and available to everyone for free;
About 1,000 BTC can be mined with $1 of electricity. The initial cost was $0.001 and the current price is $58,000, a 58 million-fold increase in 15 years.
Of course, these data are meaningless.
After all, almost no one holds a BTC from beginning to end, and almost no one believes that the BTC initially obtained for free will rise to nearly $60,000;
Just as most people now cannot predict whether BTC will continue to double or return to zero in 10 years.
If you enter the crypto market now, can you still make money in the currency circle?
There are two group members who both entered the cryptocurrency circle at the beginning of this year, one playing spot trading and the other playing contracts, and now they are both on the road to making back their investment.
Spot traders did gain some benefits under various MEME market conditions at the beginning of the year, and their account balances tripled at one point;
However, due to the sharp drop in MEME prices in the past two months, the account balance has dropped sharply and part of the principal has been lost.
Fortunately, there are always opportunities in the spot market, but I don’t know whether the MEME in his hands can rise again.
The contract player invested 5wu, which doubled to 45wu at one point, but was liquidated due to the extreme market conditions some time ago, and currently has a loss of 2wu.
Now we are adjusting our contract strategy, hoping to make the money back in future market conditions and continue to find wealth opportunities in the crypto market.
If you are optimistic about the future of the crypto market, any time is an opportunity to enter;
But for players who have no time, energy, or skills, it is not easy to double their money.
Treat the crypto market as another way to invest, be friends with time, and maybe there will be opportunities.
But it is not easy to be a holder. There will be disruptive development stages in the market, and you will also have negative emotions towards the market and the future, so it is not easy to hold on.
Just like what a great post on Zhihu said a while ago, buy BTC with 6,000 yuan, and then wait five years to see its ups and downs, because once you pay attention to it, you won’t be able to hold on to it.
Ten years from now, blockchain may have greater development, and cryptocurrency may have more use cases.
But this process is full of risks and unknowns, and it may succeed or fail. The investment is continuous and it will take a long time to verify.
If you consider cryptocurrency as a way of asset allocation over a longer period of time, you may get some unexpected surprises.
But investments may succeed or fail, and there are certain risks.
The crypto market is currently in a bear market. There are no hot spots and little liquidity, and the various cryptocurrency communities are not as lively as before.
Investing is a long-term process, with bull and bear markets constantly switching.
There are fewer opportunities to make 10 or 100 times more money in a short period of time in the current market, but compared with other industries, there are still more opportunities and it is relatively fair;
There are fewer and fewer stories of getting rich overnight in the cryptocurrency circle. Only those who keep their original intentions and have faith can stay in the market, and those who stay in the market will definitely benefit.
I hope everyone can gain their own wealth story and opportunities from it.
The above is just my personal opinion, not investment advice. I am Chuxiaolian, and I am paying attention to the crypto market and web3.
