You can definitely make money in the crypto world, but you must understand: you will never earn money beyond your knowledge. If you only think about getting rich overnight and are unwilling to learn deeply, then prepare to lose money; there's a 99.9% chance you'll incur losses.
The market always follows the 80/20 rule, with 20% of people holding 80% of the wealth. The few who can truly profit are a minority, while most are just 'chives'. The crypto world is ever-changing, with stories of overnight wealth happening every day, but very few can actually make money and survive. To establish a foothold in this market full of desires and traps, you need not only strength but also knowledge of how to avoid pitfalls. The following five hard truths must be learned early to survive longer in the crypto world:
1. Preserve your principal to keep playing
There are many opportunities in the crypto world, but your principal is everything to you. The market is highly volatile, and if you lose your principal, you'll be completely out. Even if a bull market arrives, you can only be anxious. Control your risks and don't easily stake all your funds; always remember, your principal is the foundation of your survival in the market.
2. Don't be greedy; take profits when due
If you've reached your expected target, you should decisively take profits. Many people end up waiting for 'just a little longer' and only face a plummet and a retracement. The temptations in the crypto world are numerous; when making money, know when to take profits, as this is the survival strategy of experts.
3. Refuse to follow the crowd, make independent judgments
Market sentiment is unpredictable; a single news piece can cause prices to soar or plummet. Learn to research independently and make your own judgments; don't blindly follow the crowd. Only truly understood projects can be held firmly without being shaken out during fluctuations.
4. Control your positions, invest steadily
Diversifying your funds is always the way to go; don't put all your eggs in one basket. Reasonably control your positions and spread your risks to cope with market fluctuations and avoid being eliminated by a single mistake.
5. Be patient, don't be swayed by fluctuations
The crypto market is highly volatile, and short-term mindset can easily fluctuate. Don't let temporary ups and downs sway your operations. Find truly valuable coins, be patient, and hold them long-term to realize real gains. Remember, bear market layouts and bull market harvests are times that test your patience.
The crypto world offers endless opportunities, but only those who know how to control risks, persist in independent thinking, and are not easily swayed by market emotions can stabilize their ship in this volatile ocean.