I think that if you want to make money in the cryptocurrency circle, you will definitely make money if you are not greedy. If you are very greedy, most people will lose a lot of money, while a small number of people will make a lot of money.
Why do I say this? Because the cryptocurrency industry is relatively mature now, and the more mature the market is, the fewer opportunities there are to get rich quickly.
First of all, if you are not greedy, it is easy to make money. In the long run, cryptocurrency is still developing gradually. In a gradually developing industry, it is definitely possible to gain a certain amount of wealth.
At worst, you can also invest in BTC. In the long run, investing in BTC is definitely a good way to manage your finances.
Secondly, if you are very greedy, you are likely to incur significant losses, and there is a small chance of making big money. If you pursue excess returns and want tenfold or hundredfold gains, you may end up losing everything.
For the bull market of 2023-2024, many people did not buy Bitcoin but wanted to buy altcoins to chase higher returns, but now their returns have not outperformed Bitcoin.
Bitcoin has risen from 20k to 70k from 2023 until now, a three to four times increase, while many newcomers want to buy lower market cap altcoins, which have not risen as much as Bitcoin and may even incur losses...
In summary, if you are an ordinary person, if you do not understand blockchain and technology well, and if your understanding of wealth is insufficient, then in the crypto world, as long as you 'do not be greedy,' you can definitely make some money through investment. This small money may not elevate you to a wealthier class, but it can certainly improve your standard of living.
In the four years since entering the crypto world, I have achieved a maximum return of 102 times.
Of course, if you are not satisfied with the returns from dollar-cost averaging into BTC, then feel free to look at the content below.
In the crypto world, achieving financial freedom and class leap, I have always strictly followed the iron law of the market:
1. A sharp decline is a touchstone for quality coins. If the market crashes and your coin only experiences a slight decline, it is obviously being defended by the market makers, so you can hold it with confidence; there will be rewards.
2. If beginners do not know how to buy and sell, the simplest and most direct method is to hold above the 5-day line for short-term trades; sell if it breaks below the 5-day line. For mid-term trades, hold above the 20-day line; sell if it breaks below the 20-day line. There are many methods; the one that suits you best is the best. The difficulty in trading is not the lack of methods but the execution. Sticking to a single method mindlessly, over 90% of people have no problem; simplicity is the ultimate sophistication.
3. Once a main upward trend forms and there is no obvious increase in volume, decisively intervene. Hold if the volume increases, hold if it decreases without breaking the trend, and quickly reduce positions if the volume decreases and breaks the trend.
4. If there is no fluctuation three days after a short-term buy, sell if possible. If it doesn’t rise after purchase and instead drops, take an unconditional stop loss at a 5% loss.
5. If a coin has fallen 50% from a high position and has continued to fall for eight days, it has entered an oversold channel, and an oversold rebound is imminent; you may follow in.
6. When trading cryptocurrencies, focus on leading coins; only trade leading coins and not miscellaneous ones. Leading coins typically rise the most during market upswings and are the most resilient during downturns. Do not hesitate to jump in; trading is often counterintuitive.
Buy more when it drops significantly, and do not hesitate to buy when it rises; the more you dare not buy, the more it goes up, and the more you dare to buy, the more it goes down. The strong will always be strong. The most important thing in trading leading coins is buying at high positions and selling at even higher positions!
7. Embrace the trend and go with the flow. The buying price is not the lower the better, but the more suitable the better. You will not gain an advantage just because the buying price is cheap; because a decline does not mean it has hit the bottom. Abandon trash coins; trend is king.
8. Do not let the profit blind your judgment. You must know that the hardest thing in the world is how to sustain profits. You must seriously review whether it’s luck or skill. A stable trading system that suits you is the true path to sustained profits.
9. Do not trade for the sake of trading. What does this mean? It means that when you do not have enough confidence that this trade will be profitable, do not force a position. Being in cash is an art; those who can buy are students, those who can sell are masters, and those who can remain in cash are the ancestors. The first consideration in trading is not profit but capital preservation; what matters in trading is not the frequency but the success rate!
10. In speculative markets, being adaptable is the most erroneous approach. Use your fixed trading system, responding to changes with consistency. It’s not that you can use a thousand methods; it’s that you use one method a thousand times. Remaining static is the best defense. Often, you make the most mistakes when you are most reluctant to let go; take this to heart!
11. I believe that those who can persist in trading for more than four years do so because of the word 'passion.' Passion is acceptable, and having a passion to do something well is essential. However, don't become overly obsessed, to the point of sinking into it and being unable to extricate yourself; family is our greatest responsibility.
12. External factors are uncontrollable; seek within yourself. You must never blame others for your failures; this is incredibly important. No matter how low you fall, you must take full responsibility for your decisions. Only by taking responsibility can you face mistakes head-on and possibly avoid repeating them. True traders are those brave enough to confront their errors!
13. Listen less to rumors from the outside, as there is no right or wrong in viewpoints. Many times, what you see is only what they want you to see or what you want to hear. When you no longer have interest in the media or the methods of any experts, congratulations, you are not far from entry and success because you may have gained a little bit of your own understanding: faith!
14. You think you are trading the market, but in reality, you are trading yourself. The glittering success we see on the surface is merely a result and performance. Behind every success is immense perseverance and endurance; behind greatness lies suffering. Time is the most valuable asset; endurance surpasses intelligence; talent is not important, but mindset is!
The martial arts manual has been given to you; whether you can become famous in the martial world depends on yourself.
Everyone must save these methods and read them several times. Friends who find them useful can share them with more traders around them. Follow me for more valuable insights into the crypto world. Having been through the rain, I’m willing to hold an umbrella for the traders! Follow me, and let’s walk together on this journey in the crypto world!