Is it true that some people have become rich overnight by buying altcoins?
In the bull market, there are indeed many people who have become rich overnight by buying altcoins. What I mean by getting rich overnight is the kind that makes millions or even tens of millions from 100,000-500,000. Here are some key points that reveal the conditions for getting rich overnight in the altcoin market:
1. Capital investment: To really get rich, you need at least 100,000-500,000 yuan of principal. Even if the bull market is good, the average increase is about 10-30 times. According to the highest value of 30 times, the profit of buying 100,000 funds can reach 3 million, and the profit of 500,000 can reach 15 million.
2. Adventurous spirit: People who love to buy altcoins like to take risks, and the huge profits brought by taking risks will make them more enthusiastic about this high-risk investment. They are unlikely to put their money in the bank to buy financial management after making 5 million or 20 million.
3. Market risk: The adventurous nature means that all adventurous opportunities in the market will attract you. Suppose you encounter Fcoin running away, UST collapsing, and FTX running away, do you have the confidence to avoid these? In this circle, the more you know, the greater the risks and temptations you face.
4. Risk and good luck: Huge profits inherently contain risks, but in hindsight, it feels like there is no risk. You will expand when you make money. The risk is not non-existent, but you have ignored it, and your good luck has allowed you to avoid most of the risks.
5. Long-term strategy: In this circle, if you can stably survive two cycles, even if you only save 50,000 a year and save 200,000 in 4 years of working, you can earn 22 million 100 times in two cycles. If you can sell in a bull market and hoard coins in a bear market, it is not too difficult to turn 22 million into 50 million.
Summary: The opportunity to get rich quickly does exist, but it requires patience, wisdom and a certain amount of capital investment. The key is whether you can seize the opportunity in the bull market and hold on in the bear market. Everything depends on your choice.
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