Crypto markets often experience significant fluctuations, can one buy during a downturn and sell when it rises again?
Old Jiu talks about making money in the crypto space:
In the crypto world, do you want to make money? You can, but it depends on how you play. When encountering a bear market, if you boldly buy in, it might drop even further, at that point, will you grit your teeth and hold on or take the loss and leave? Swing trading is similar; for example, if BTC drops a bit, you rush to buy the dip, and when it bounces a little, you sell, but then it skyrockets afterwards, do you regret it and slap your thigh?
Actually, the crypto world is like a mischievous little sprite, unpredictable in its ups and downs, specifically designed to challenge every belief. If you operate frequently, your capital may diminish over time because the market's fluctuations can precisely match your understanding and the thickness of your wallet.
So what can you do? Some choose to hold long-term, working to earn money while gradually buying coins, like raising a golden goose and waiting for it to lay eggs. This method is stable, but it requires patience, which most people cannot achieve.
Others prefer to play swings, wanting to seize every opportunity for ups and downs. But to be honest, this has a high level of difficulty, almost akin to gambling; if you’re not careful, you might lose everything. Moreover, swing trading is like walking a tightrope; one success does not guarantee future successes, and over the long term, just managing not to lose money is already quite good.
Therefore, if you want to make money in the crypto world, the key is to find a way of playing that suits you. Don’t follow the crowd, and don’t operate blindly. You need to understand this market, know what you are doing, and how much risk you can bear. Remember, the crypto world is not an ATM; making money is not that easy, but it’s not that hard either; the key is to remain steady and not let momentary fluctuations cloud your judgment.
Finally, I must remind everyone that the crypto waters are deep, and investments require caution. Don’t risk your life savings; if you can afford to play, then play, but if you can’t, then withdraw; don’t force it.
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