This year, Bitcoin hit its lowest point on August 5, but apart from Bitcoin, basically all the coins either returned to the low of August 5 or went even lower.

ETH is still relatively strong; the lowest point on August 5 was 2100 points, and now it's 2470 points, which is only about a 15% increase. SOL and BNB are also relatively strong, not continuing to drop significantly, as for other altcoins, it's even more unnecessary to mention; the better ones have only increased by 20-30% compared to the lowest point on August 5 (and I must emphasize that this is the lowest point).

So I want to ask everyone, were you out of the market before August 5 and then entered at the lowest point? If not, then now basically everyone is in a trapped state.

I think there are two reasons to buy some leading altcoins now.

First, our entry price is much lower than most people in the market. By the time they break even, we may have already made more than double our investment, at least having profits of several tens of percentage points.

Second, we have been out of the market for so long that we have witnessed the fluctuations in the market.

As soon as Bitcoin rises, many people feel that the bull market has arrived. Some even say Bitcoin can rise to 100,000, 200,000, or 300,000. But once Bitcoin falls, these people fall silent; they are all stunned. Because most altcoins and Ethereum have dropped significantly, many people have been trapped.

When Bitcoin rises, they feel hopeful; when it falls, they comfort themselves silently, saying the bull market is coming soon, don’t worry, it will go up. But by the time they break even, for those of us who have been out of the market for a long time and bought at low prices, our profits may have more than doubled.

When they break even, they will think it can rise even more, but we can withdraw our capital, or even liquidate again. Thus, it goes through phases of cycles; whether it's a bear or bull market, you will find it seems to have little to do with you.

This market gives the impression that everyone thinks they can easily make money here, but in reality, it’s like snatching food from a tiger’s mouth; if you're not careful, you'll lose everything.

I have always insisted on my principle, which is that right now we can only do short-term trading; we can't hold on too long. If we make a profit, we must run. Moreover, the price of Bitcoin is too high; once it drops significantly, we small retail investors won't be able to withstand it, and our mentality will definitely collapse.

Even if Bitcoin continues to rise and reach new highs, you'll find that your account hasn't actually increased much.

Because everyone has a habit; I found that 80% of retail investors this year and last year bought 10-20 altcoins, thinking that once the bull market comes, all coins will soar, and they can increase tenfold, twentyfold, or even a hundredfold, hoping to achieve financial freedom with this wave.

In fact, I have always emphasized that holding no more than 5 altcoins is the best.

Why? First, you can't keep track of them all. Second, when the market is good, some coins are rising while others have small gains or are even falling, so your overall gain won't be much.

Once the market falls, you'll find your account plummeting like a waterfall, roughly in line with the market's drop.

At this point, you can't sell, and you can't buy either, because you don't really understand these coins.

This one recommends you buy some, that one also recommends you buy some, and as a result, you end up buying more and more, and in the end, you can't sell or not sell. When you are completely desperate, you will just let it go, only to find that you are left with a pile of increasingly worthless numbers.

I'm just sharing my perspective; I don't expect everyone to follow my ideas.

Also, friends who are doing well, when you consider my advice, be sure to stay calm and manage your risks.

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