My friend has been addicted to cryptocurrency trading recently. How can I make him realize that cryptocurrency trading cannot make him rich?
Let me talk about myself first. I did make money in the bull market a few years ago. At that time, I had 20 BTC, 10 ETH, and 20 LTC in my account. I invested my spare money and it was all good. But I ended up exchanging these coins for a bunch of rubbish knockoffs. I played a good hand badly. Now I think about how much these coins would be worth if I hadn't bought the knockoffs. I would have tens of millions now. I can lose tens of millions without playing with contracts. I am pretty good.
Fortunately, your friend only plays with spot and doesn't touch contracts.
Crypto traders want to get rich overnight. Those with this mentality in the bull market will basically lose money.
Chasing the rise and selling the fall, if not him, who else to cut
No one gets rich by speculating in short-term cryptocurrencies
Tell your friends that you can speculate in cryptocurrencies
Buy 70% Bitcoin and 30% Ethereum
Don’t buy anything else
Maintain fixed investment, put it aside after buying, and come back to see it in a few years
Of course, the fixed investment I’m talking about is not now
Wait for the bear market to make fixed investment, don’t always think about the thousand-fold coin
There is no thousand-fold coin that can increase a thousand times in two days of short-term trading
The altcoins I bought in January have also gained several times so far.
Your friend is not suitable for speculating in cryptocurrencies, the more he thinks about getting rich, the more he loses
I also gradually understood later that there is no such thing as getting rich overnight
It’s all about exchanging time for space
Do value investment
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