Why are there still so many people keen on speculating in cryptocurrencies?

Because this place allows you to use 500 yuan as 50,000 yuan.
This is the place where poor people are closest to rich people. Rich people have a lot of money and leverage, while poor people have little money and are subject to many restrictions in various other markets, or cannot reach high thresholds.
These restrictions are called protection, but when a gambler is about to lose all his money, what can protect him?
When you only have 500 yuan, what can you invest in? Save it? Eat something good? Or buy a low-priced stock?
There is a high possibility of liquidation with leverage. No one can judge the market trend, only speculation and estimation. Of course, more people are guessing and gambling. But for the poor, at least there is a chance, there is a thought.
Why do so many people buy lottery tickets when they know they can't win? Stupidity is only one aspect, and it is difficult to calculate the rate of return. Many people regard lottery tickets as a hope for life. The little money spent on buying lottery tickets is not helpful for a better life, but if you win, you can completely change your current life. It's the same as high-leverage cryptocurrency speculation.
For rich people, leverage is more comfortable to use. You can even enjoy the benefits without taking risks. As long as you open long positions on the currency standard and control the actual leverage below 1, it is difficult to blow up the position (U will not blow up if you open long positions on the currency). Under the premise that the currency price will always rise, you can always make more money (because spot = 1x long positions are inherently risky).

If this article is helpful to you, you may wish to pay attention to Caishen. If you have any questions that you don’t understand, you need to consult or want to communicate and learn together. Read the introduction of Zhuye and try to join the circle
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The story of Brother 480,000:

In 2014, a man appeared in the Bitcoin forum. He used 480,000 to buy 100 Bitcoins. After that, he did not sit idle. He started to post live broadcasts about trading Bitcoin.

After that, the market value of these 100 Bitcoins fell to 90,000. Many people kept mocking him, laughing at the fact that "Brother 480,000" was about to become "Brother 60,000".

It stands to reason that the loss has exceeded 80%, and the remaining tens of thousands should be ignored. There is still a possibility of counterattack if they are left there.

"Brother 480,000" defeated himself, but lost to a woman!

His mother-in-law quarreled with him about this matter, and his wife even threatened him with divorce.

Finally, he could not stand the pressure and

sold 100 Bitcoins at the beginning of 2016, recovering 300,000 and a net loss of 180,000.

Falling before dawn.

At the end of 2017, the bull market entered its climax, and the price of Bitcoin began to hit 140,000. If Brother 480,000 could hold on to his 100 Bitcoins, the price would have skyrocketed to nearly 14 million by the end of 2017. Some people remembered Brother 480,000 again, but he never appeared again. He deleted his posts, cancelled his ID, and disappeared in the vast sea of ​​people. Are there all kinds of Brother 480,000 around you? Anyway, I have met all kinds of Brother 480,000 over the years. I didn't have the patience to hold the currency and fell before dawn. . I hope you don't repeat Brother 480,000's path and fall before the dawn of the bull market.
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How to invest in the current cryptocurrency market

(1) Focus: From now on, give up the idea of hoarding coins
The current price of Bitcoin is 65,000. Even if the price doubles, it is difficult to achieve wealth freedom. Hoarding altcoins is even more risky. Among the new coins launched on Binance this year, almost all of them have fallen by more than 50% from their peak, and none of them has fallen by less than 20%. Investors need to be cautious and stay vigilant against market fluctuations.

In the cryptocurrency market in 2024, altcoins performed poorly. Although Bitcoin has risen from US$30,000 to US$70,000, the increase in many altcoins is far less than that of Bitcoin. Therefore, if you still insist on hoarding coins, it will definitely not work. The era of hoarding coins to get rich in the cryptocurrency market is a thing of the past. Now you have to seize the hot spots to make more money. Of course, if you come to the cryptocurrency market just for simple financial management and not for the pursuit of getting rich quickly, investing in Bitcoin is still a wise choice.
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How do you survive in the cryptocurrency circle?

How do novice young people make money by speculating in the cryptocurrency circle?
The survival rule of the 21st century is not to enter a factory, nor to be a white-collar worker, nor to enter the system.
Many people have made a fortune by speculating in cryptocurrencies.
There are people around me who bought Dogecoin with 30,000 yuan. When the market value reached a peak of 10 million, it cashed out when the market value fell to 5 million. This can be considered making money.
I also do contracts for my own entertainment. I use 2,000 yuan
5.6000 times, which has doubled dozens of times. This can be considered making money.
From January to August 2023, I made nearly 800,000 yuan. Is this considered making money?
Do you like to listen to these stories?
But I want to tell you that except for a few people who make money, most people are losing money. After losing money, they regret it. People who do contracts will blame themselves for not being able to control their hands, not stopping losses, and always being greedy.
People who do spot will regret why they listened to others and took over those worthless coins and became the taker.
The cryptocurrency world is the same as other capital markets. I have a suggestion for you: first use 500 to 1,000 yuan to test the waters with a small amount. When you lose all the money, you will be considered to have made a preliminary entry.
Then learn more to understand what information will affect the cryptocurrency world, what is a project party, what is an address, what is a blockchain, what are the hype points of this coin, how is the control ability of this team, etc.
All circles make money in the same way. If you don’t learn, you can’t make money at all. The news you see about sudden wealth is true, but it is also to attract you novices. There are lucky people everywhere.
When you can do it without losing money, or even making a small profit, wait for opportunities like a hunter. Once the opportunity comes, strike decisively, and you are likely to make a fortune.
Come on, young people, learning is essential in any field.
If this article is helpful to you, you may wish to pay attention to the God of Wealth. If you have any questions that you don’t understand, you need to consult or want to communicate and learn together. Read the introduction of the cooking industry and try to enter the circle
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Personal consumption expenditures (PCE) price index data for May provides several key points:

Core PCE price index: The core PCE price index increased by 2.8% year-on-year in May, consistent with the growth rate in previous months. This suggests that core inflation remains stable without significant changes.
Total PCE price index: The total PCE price index increased by 3.8% year-on-year in May, slightly lower than the 4.3% in April. This shows that overall inflation has slowed but remains above the Fed's long-term target of 2%.
Compare with previous data:
Core PCE price index: The year-on-year growth of core PCE in the previous months has also remained at around 2.8%, which means that the core inflation rate has not changed significantly and remains stable. Aggregate PCE Price Index: Year-over-year growth in April was 4.3%, while falling to 3.8% in May, indicating that overall inflation is slowing.
The importance of these data is that they reflect changes in inflation trends. Although the inflation rate has declined, it is still at a high level, especially as the overall inflation rate is still above the Federal Reserve's 2% target. The Fed is likely to continue taking steps to adjust monetary policy in response to persistently high inflation
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Why do many people still not accept virtual currency?

Whether it is Bitcoin, Tesla, Moutai, Tencent and other stocks, or real estate. Any opportunity that may make ordinary people financially free will have more negative voices.

The reason is simple. For any opportunity that can make money, there must be only a few people who can seize the opportunity. And those who can't seize the opportunity are more willing to accept the placebo-like idea that "this is not an opportunity but a trap" than to admit that their incompetence has led to the missed opportunity. The thinking mode that most people are willing to accept is: "This matter itself is immoral, and I don't participate because of my high moral standards." Or "People who participate are idiots, these are all scammers who will collapse sooner or later, and I am smarter to do nothing than others who are busy."

And people have a characteristic called self-perception reinforcement. That is, my thoughts will influence my behavior, and my behavior will further strengthen my thoughts. This characteristic also has a more well-known name "reverse rationalization."

People's placebo-like thoughts will influence their own behavior and keep themselves away from industries where they have not seized opportunities. And the behavior of staying away from these will further strengthen their negative thoughts about these opportunities.

Whether it is "Musk is a liar, real estate is all a bubble, or Bitcoin is a tulip, Tencent is a worthless company that only copies worthless companies, and rich people all get started by shady means", these kind of repetitive remarks are all to comfort their own psychology of stepping into the air, and then further reverse rationalization.
People are stubborn, and in order to consolidate their own ideas, they will refuse to accept any information that contradicts their own ideas and refuse to learn anything new. Many middle-aged people often say "I am too old to learn", but the next sentence is "But my experience tells me that you are wrong."
People are fragile. They cannot accept that they will make mistakes. And they are more willing to believe that it is the world that is wrong.
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