The cryptocurrency world is a place where you can get rich or a hell of making money. The truth is often completely different from what you think. Many people are attracted by the glamorous stories of getting rich quickly, but soon find that the cryptocurrency world is much deeper than they imagined. Today I will reveal some unknown truths about the cryptocurrency world. See how many of them you know?
1. Only a few people get rich overnight, and most people lose money
We have all heard stories of people getting rich overnight in the cryptocurrency world. Hundreds or thousands of times the returns sound exciting. But the truth is that 90% of people lose money in the cryptocurrency world. Those who can get rich overnight are either lucky or have made early investments. The majority of the rest are destined to take over. The market is not there to give you money. There are opportunities, but not everyone can seize them.
2. The market maker is the true winner of the market.
The rules of the crypto game are actually set by the market makers. Those sudden surges and drops you see in the market are often controlled by them. What you think is a 'heaven-sent opportunity' is actually their setup. When they pump the prices, retail investors rush in, but by the time you chase the high, the market makers have already quietly sold off. Remember, in the eyes of the market makers, you are always the prey.
3. Blindly following trends is destined to be cut off.
Every time the market starts moving, there are always a bunch of people starting to tell stories, with all sorts of new concepts and projects flying around. Listening to others speak confidently, many people can't resist the temptation and rush in. But the truth is, most of these 'god projects' are actually prepared to cut the leeks. By the time you enter the market, it’s often just the prelude to someone else's escape.
4. Market sentiment is the biggest enemy.
The biggest difference between the crypto market and the stock market is that the volatility here is too intense. Sudden surges and drops overnight are common, and emotional fluctuations happen faster than price fluctuations. Many people, driven by emotions, chase highs and cut losses, resulting in not making any money and losing their composure first. The only way to survive in this market is to control your emotions and not be led by the market.
5. You can make money in a bull market, but a bear market is the real test.
In a bull market, everyone can make money, which is not surprising. The real test is in a bear market; when the market is bad, do you cut losses and leave, or do you hold your ground? Most people can't survive a bear market and cut losses, missing even the chance of a rebound in the end. Making money in the crypto world relies on patience and strategy, not luck.
The truth about the crypto world is actually very simple: don't fantasize about getting rich quickly, and don't be led by the market. Be a bit more sober, stabilize your mindset, recognize the rules, and you can survive a little longer in this game.
