Cryptocurrency Survival Tips
1. Be Cautious When Exchanging Coins
Don't easily swap your coins around; believe that the coins you hold will eventually have their opportunities. Frequent exchanges may cause you to miss good chances.
2. Beware of Popular Coins
Coins that everyone is discussing are often close to their price peaks. In a bull market, there may still be a chance for recovery, but in a bear market, it's hard to say. So don't touch them lightly.
3. Don't Believe in Rumors of Explosive Growth
Those claims that a certain coin can increase by hundreds or thousands of times are either made by fools or con artists. Even if such a coin exists, can you resist the urge to sell during a surge? Don't trust such statements.
4. Avoid Contracts in a Bull Market
Playing contracts in a bull market has a low probability of surviving until the end of the bull market, and the risks are huge, so try to avoid it.
5. Keep a Calm Mind
When everyone is caught up in FOMO, you need to assess risks and rewards clearly; protecting your principal is key, and you must not blindly follow the crowd.
6. Don't Trust Contract Indicators
Whether in a bull or bear market, the technical indicators for contracts are often unreliable. So-called winning rates are often traps set by market makers; don't be misled.
7. Stick to Your Own Choices
Coins that survive a bear market are likely to increase in a bull market, so trust your choices and don’t waver easily.
8. Manage Your Funds Wisely
If your capital exceeds 100,000, avoid contracts; holding mainstream coins is relatively safer. If your funds are limited, you can take some risks in altcoins, but be cautious.
9. Learn to Go with the Flow
Most of the time, the cryptocurrency market is in a downtrend or fluctuating state, with only a small portion of the time seeing gains. Be patient, and going with the flow can help you respond better.
10. Value the Timing of Exiting at the Top
Making money in a bull market is not guaranteed. To truly make money, you need to exit at the peak of the bull market successfully. When the bull market ends, assets may shrink significantly, and the bear market is even more terrifying—it’s possible for assets to go to zero. Only 10% of people in the cryptocurrency market make money, and most miss good opportunities because of greed.
Remember these key points to help you navigate your days in the cryptocurrency market more steadily.