Survival Rules in the Crypto World!
According to Bai Yi, the following 5 points are principles that both newcomers and even experts can consistently benefit from.
1. Protect Your Capital to Seize Opportunities
It is advised to play with spare money that does not affect your daily life; your capital is your foundation. No matter how good the market is, you must control risk, avoid recklessly investing everything, and be cautious with contracts. If the market fluctuates strongly and you have no capital, you simply cannot participate; when a bull market arrives, you'll be left staring blankly.
2. Reject FOMO, Learn to Judge
The market changes rapidly, and sometimes one piece of news can cause a cryptocurrency to skyrocket. You need to learn more and research to understand things for yourself rather than blindly following others. Only by truly understanding the cryptocurrency can you avoid being washed out during turbulence.
3. Don't Be Greedy, Take Profits
When profits meet your expectations, decisively sell and secure your gains. Don’t be greedy for higher prices; many people fall into the trap of waiting, only to face losses and miss out on earnings. Knowing when to take profits is the survival strategy of experts.
4. Control Your Position, Invest Steadily
Don’t put all your eggs in one basket; diversifying risk will allow for long-term success. Maintain a reasonable position to adapt to various market changes.
5. Patience is Key, Don’t Let Price Fluctuations Control You
Don’t rush into actions due to temporary price movements. The crypto market is inherently volatile; prepare during bear markets and reap rewards during bull markets. To survive in the crypto sphere for the long haul, don’t constantly chase after quick riches; seeking steady progress is the way to go.
Remember these 5 survival rules, and as you venture into this world, you'll be able to go further, more steadily, and for longer.
