People often say: 'A day in the crypto world is like ten years in the real world. After ten years of working, everything is in vain, yet you can become wealthy in a year in crypto!' But is that really the case?
Indeed, the opportunities for getting rich quickly in the crypto world are more abundant compared to traditional industries, but the hidden risks are equally huge! Many people follow trends blindly because they hear about others making money around them or they see friends profiting. However, the low barrier to entry leads more people to hold onto the fantasy of 'getting rich overnight,' while overlooking the importance of understanding risks and knowledge.
As a seasoned player who has worked in the crypto world for many years, I have summarized the 'Top Ten Truths of Crypto' to help everyone recognize reality, avoid detours, and participate rationally.
Truth 1: You might think a certain altcoin has the potential to increase by 100 times, but the reality is that 99.99% of altcoins will ultimately go to zero. Insight: Conduct thorough investment research and choose projects with value and ecological support; do not chase prices blindly.
Truth 2: When a project is heavily promoted as a 'money-making opportunity,' it is likely that the market maker is about to sell off. Insight: Learn to think contrarily, not to be swayed by market emotions, take profits in time, and avoid being a bag holder.
Truth 3: When retail investors are generally panicking and feel the market is about to crash, it often signals the beginning of a bull market.
Insight: Market panic is a tactic used by market makers to accumulate at low prices; learn to identify bottom opportunities.
Truth 4: When you become increasingly certain about a coin's upward trend and are ready to go all in, it is often when the market maker is closing positions and selling off. Insight: Stay rational, do not blindly over-invest, and learn to buy in batches and take profits.
Truth 5: You may think the win rate for contracts is 50%, but in reality, less than 10% can actually make money.
Insight: The contract trading requires extremely high levels of position management, mindset management, and execution. Do not be greedy and blindly leverage.
Truth 6: Most people see market makers as enemies, but true experts learn to dance with them and follow their steps. Insight: Teamwork is more important than individual effort; going with the trend can yield greater profits.
Truth 7: Many people think making money in crypto is easy, but less than 10% actually do.
Insight: The crypto world also follows the 80/20 rule, and even the 90/10 rule. Respect the market, integrate knowledge and action, and you will stand firm.
Truth 8: Do not underestimate KOLs (Key Opinion Leaders), as their expertise and market analysis can help you avoid detours. Insight: In the era of paid knowledge, be clear about whether you are receiving equivalent value. Capability always precedes profit.
Truth 9: The rise in coin prices, besides ecological implementation and value support, is more importantly driven by market 'consensus' and 'greed.' Insight: Supply and demand dictate price, and market belief and emotions have a significant impact on coin prices.
Truth 10: To get rich in the crypto world, you need to possess the following: Luck - to find truly promising assets; Understanding - to hold onto coins without being scared off by market fluctuations; Taking profits - knowing when to cash out and take gains; Long-termism - sticking to long-term investments and not chasing short-term profits; Cash flow - continuously earning income and investing steadily in the market. Insight: Making money in crypto is not easy; in addition to seizing opportunities, you also need luck, patience, and the right execution.
Summary:
The above ten truths may be a bit hard to swallow, but they are valuable experiences I have summarized after years of struggles in the crypto world! I hope they help everyone recognize the market and reduce 'tuition fees.'
Remember:
Capital first, risk second, profit third! Respect the market, maintain a good mindset, learning ability, and execution; self-discipline is the key to success!
Take gains calmly, accept losses lightly, strive for outcomes, and go with the flow!
If you are still confused and cannot find direction, consider joining the Baili team, continuously sharing value, and pay attention to the homepage introduction; fate will come.