This year, Bitcoin hit its lowest point on August 5, but besides Bitcoin, basically all coins either returned to the low point of August 5 or are even lower than that time.

ETH is slightly stronger, with the lowest point on August 5 being 2100 points, now it is 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, there's no need to mention, the better ones are only up 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 in cash before August 5 and entered the market at the lowest point? If not, then now most people are basically in a state of being trapped.

I think now is a good time to buy some leading altcoins for two reasons.

First, our entry price is much lower than most people in the market. When they break even, we might have made more than double, at least we will have made several tens of points in profit.

Second, we have been in cash for so long and have witnessed the fluctuations in the market.

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

When Bitcoin rises, they feel there is hope, and when it drops, they quietly comfort themselves, saying the bull market is coming soon, don't worry, it will go up. But by the time they break even, for us who have been in cash for a long time and bought in at low prices, we might have already doubled our profits.

When they break even, they will feel it can rise even more, but we can withdraw our principal, and even clear our positions again. Thus, this cycle continues, whether in a bear market or a bull market, you will find that 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 grabbing food from a tiger's mouth; if you are not careful, you will lose everything.

I have always insisted on my own philosophy, which is that now we can only trade short-term, we can't cling to positions, and we must run once we make a profit. Moreover, Bitcoin's price is too high, and once it drops significantly, we small retail investors can't withstand it, and our mindset will definitely collapse.

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

Because everyone has a habit, this year and last year, 80% of retail investors bought 10-20 altcoins, thinking that once the bull market comes, all coins will soar, and they could increase by ten times, twenty times, or even a hundred times, hoping to achieve financial freedom with this wave.

In fact, I have always emphasized that the number of altcoins you hold should not exceed 5.

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 increase is not much.

Once the market drops, you'll find your account plummeting like a waterfall, about the same as the market drop.

At this point, you can't sell or buy, because you don't understand these coins at all.

This one recommends you buy a bit, and that one also recommends you buy a bit, and the result is that the more you buy, the more you end up with. In the end, you can't sell, and you can't not sell. By the time you are completely desperate, you can only give up, and finally realize you are left with a pile of increasingly worthless numbers.

I'm just sharing my own views, not expecting everyone to follow my thoughts.

Also, for those friends who are doing well, when you refer to my opinions, you must remain calm and manage your risks well.

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