5 Things Newcomers to the Crypto World Should Know

1: Don't start with a wallet; keeping your coins on a reputable exchange is a safer choice.

2: For new coins, it's best for beginners not to get involved, as their price fluctuations are very large and difficult to manage.

3: Beginners should avoid contract trading! This is very risky for newcomers and can easily lead to losses; trust me, you can't control this! If you are uncertain about investing in the crypto world, consider buying Bitcoin and Ethereum.

4: Prepare yourself mentally before entering the crypto world; a 20% drop in one day is common. Besides Bitcoin and Ethereum, do not invest all your funds in any single coin, especially altcoins! They could potentially go to zero!

5: Position allocation is very important! Never go all-in; always keep some 'bullets' on hand to respond to market changes in a timely manner.

Think about position management and your trading mindset. Give yourself a clear positioning and understand what you want.

For short-term trading, consider selling near resistance levels; if it goes up, don’t regret it, as you are a short-term participant anyway. If you hesitate to sell when it rises, thinking of holding for the long term, but then want to trade short when it falls, this mindset can be very torturous for yourself.

If you are a long-term player, don’t fear retracements along the way; focus on the end result rather than the process. Of course, you must endure 50% or even 100% pullbacks. The entire bull market is a rhythm of continuous pullbacks followed by rises, oscillating upward in a spiral. Players who trade in waves can reduce their positions when prices rise, but after reducing, they must buy back again when prices pull back to avoid missing out and chasing highs. $BTC #ETH持续飙升