The cryptocurrency world is a battlefield; on the cutting edge, some become rich overnight, while others lose everything in a night. Want to survive in this crazy place? You better engrave these 10 pieces of advice in your mind!
1. Don't keep changing coins; resist the urge to move.
The coin you hold will shine and heat up sooner or later. If you keep switching, you'll either sell low or miss out on opportunities. Sometimes, holding firm is the most stable strategy.
2. Don't touch coins that are being hyped everywhere.
If all you see in your social circles, communities, and on X is hype about a coin, my friend, it's likely already at a peak. You might survive in a bull market, but a bear market can wipe you out in minutes.
3. If someone says it can multiply by a hundred, they are either a scammer or a fool.
"This coin can increase by 100 times"—do you really believe that? If such a magical coin existed, could you hold onto it? You'd sell at a 5x increase, unable to resist. Don't be fooled by empty promises.
4. Don’t play contracts in a bull market; you won’t survive to the end.
When a bull market truly arrives, avoid contracts and don’t ask why. Can you withstand pullbacks, market washes, and price spikes? Most people die on the way and never see the finish line.
5. Stay calm when others are crazy.
When everyone is FOMOing and going all in, you need to stay calm and assess how much meat is left and whether it’s worth the risk. Don’t be greedy; protecting your principal is the key.
6. Technical indicators for contracts are unreliable.
During bull-bear transitions, technical indicators become a joke. The so-called "win rate signals" are traps set by market makers, and the more you believe, the faster you’ll lose.
7. Trust your own choices.
There are many coins in a bull market, but the key is to pick the right ones and hold on. As long as the coin doesn’t go to zero, if you can endure the bear market, the bull market will certainly surprise you.
8. Capital determines strategy.
If you have less than 100,000, you can take some risks and pick a few promising altcoins. If you have over 100,000, don’t be greedy; sticking to mainstream coins is the way to go.
9. Remember, trends are your friends.
80% of the time in the cryptocurrency world is spent in consolidation or decline; there are only a few waves of real profit-making opportunities. Whether you can ride them depends on your endurance.
10. The real money is made by those who run fast at the end of a bull market.
Not everyone profits in a bull market; those who stabilize their gains are the ones who know when to run and when to take profits. Greed is the biggest killer in the cryptocurrency world.
Surviving gives you another chance to get rich. Don’t fantasize about multiplying your money hundreds of times; focus on surviving this cycle first. There are no gods in the cryptocurrency world, only risk control and luck. Remember these 10 pieces of advice, and at least you won’t die too quickly.