In the cryptocurrency space, there are early and late entrants. However, many people have bad habits; how many do you have?

The cryptocurrency space is complex, enter with caution.

Carving a boat to seek a sword.

The cryptocurrency market has cycles, which is a widely acknowledged view in the industry. However, the cycles and the processes within them yield different results based on solving problems. It is absolutely not a method of carving a boat to summarize each evolution process. Cognition is very important, and summarization is crucial. We shouldn't think of jumping into a pit for a while. We must timely jump out and have the awareness to summarize and not fall into the pit again. The past bull and bear market transitions have had different evolutionary results. In 2017, Wu Jihan's team raised the issue that Bitcoin's transaction speed was too slow, affecting the trading experience. Thus, a fork coin called BCH emerged in 2017, leading to many fork coins during the 2017-2019 cycle, such as BCD, BSV, and BCHABC. The name of Bitcoin Cash alone has changed several times. Moreover, there was ETH's ICO and private equity. Ultimately, the issues ended in 2019 when LTC migrated the Segregated Witness technology into BTC to solve the transaction delay problem. Why not mention events from 2014 or earlier? Because they are not representative. So we won’t discuss them. Now, what was the starting point of the bull market from 2020 to 2021? DeFi staking mining, because the threshold for Bitcoin mining is too high, requiring enormous costs from capital investment to equipment development and operational input. Hence, DeFi staking mining emerged. In this process, market speculation gave rise to a wave of animal coins, with Dogecoin being a typical representative due to a statement by Musk. Whether it was genuinely said or not, no one knows. However, the result was a variety of animal coins came out. This year? If you are still shouting that Dogecoin will rise, you are just carving a boat to seek a sword. The four bull and bear market transitions are never the same. If you still enter the bull market with the mindset of the last cycle’s animal coins, the outcome is self-evident.

Spreading misinformation.

Don't just repeat what others say. To ascertain the truth of something, it's not about what others say, but about how they act. In the ten years of the cryptocurrency space, I've heard too much. But I never base my personal opinions on what others say. Because if you aren’t sharing your own insights, what you express becomes a scam. For instance, if someone tells you this currency will grow a thousandfold in the future? You should be skeptical and ask why it will rise, what value it has, and what its application direction is. Until your doubts are resolved, don’t discuss this with a second person. Many people don’t understand finance, even more don’t understand the internet, and 99% don’t understand technology. There exists a method of making money through information asymmetry, and there's also a term for it called the IQ tax. Logic and cognition are on one line, while knowledge, IQ, and perception are on another. That line can form a self-knowledge system.

This circle shouldn't be pretentious.

In this circle, if you earn money beyond your cognition, don't be pretentious, or you might get slapped in the face easily. Up until now, there are still people pretending in my comment section. What they say is like a child without teeth. If Dogecoin’s price increase is less than Litecoin's, it’s worthless. Anyone who seriously reads the article wouldn’t say such brainless words. Initially, Dogecoin wasn’t worth a cent; it was created as a medium for tipping. Its underlying logic is just a tip. Unlimited issuance. Independent algorithms don’t actually exist. Its transaction fees are frighteningly high. Some still believe Dogecoin will rise to 1-6 dollars. How is that possible? Wallet transfers and exchanges are not on the same level. If transferring 1000 Dogecoins requires 10 Dogecoins as a fee, and the price of one Dogecoin is 6 dollars, what is the market circulation of Dogecoin like? The result is that Dogecoin is not taken seriously. Litecoin's trading experience and technical capabilities are superior; those who understand technology will naturally recognize this. The main points are Litecoin's constant quantity, mining costs, independent algorithms, time limits, and market cognition are on a different level. It's a reversal of principles if Litecoin doesn’t rise.

Personal opinions are for reference only. What I've learned and earned is valuable. Looking inward will lead to higher improvement. What do you all think of what I said? Please leave positive comments. Thank you for watching.