First: Information asymmetry.
In the cryptocurrency market, what is information asymmetry? It means that many people in the crypto space like to use news as an important basis for investment decisions, enjoying trading based on news.
Information asymmetry means I know something you don’t. It seems simple, but the reality is that retail investors are always slow to react, often confused by the smokescreens and false news from major players.
For news, retail investors find it difficult to distinguish the truth from the multitude of mixed messages. For instance, how could retail investors possibly understand genuinely valuable news?
Let me give a simple example: when the Federal Reserve raises or lowers interest rates, how many people would consider in the first quarter of 2021 that the Fed would raise interest rates? At that time, Bitcoin was soaring above $60,000, and we were thinking that since the Fed was going to raise rates, it would be a long-term negative for the financial market. Additionally, the market sentiment believed Bitcoin would rise to $100,000. Ultimately, after a comprehensive technical analysis, it was concluded that the crypto market might soon enter a bear market, leading to the decision to liquidate Bitcoin and other cryptocurrencies, successfully avoiding the major drop on May 19 and cashing in profits.
Second: Poor cognition.
This means that what I understand, you do not.
When investing in the cryptocurrency market, if you don't understand the bull and bear cycle transitions in the crypto space, and cannot determine when to buy at the relative bottom during a bear market or when to sell at the relative top during a bull market through technical analysis, even if you make some money by luck during a bull market, it is highly likely that you will not be able to hold onto it in the end and will lose it back to the market through your own efforts.
Third: Poor execution.
That is, we both understand, but you don’t do it, I do.
On the cognitive level, I can realize that the blockchain industry is a trend for the future and a hot spot. As long as we delve deeply into this field, we will definitely achieve results. I have a strong and firm belief in future development and I intend to dedicate my life to this industry. I treat cryptocurrency investment as a lifelong career and continuously improve my cognition and professional skills without any slack, striving for a little progress every day through learning. A common mistake we make in terms of execution is having only a fleeting enthusiasm for tasks, expecting immediate results, and giving up as soon as we don't see effects in a short time.
Fourth: Poor competition.
That is, we both do it, but I do it better than you.
Every field has its specialties. In the cryptocurrency market, we can only take off if we work hard enough, set high standards for ourselves, and persevere. No one's success is easy or smooth sailing.
Stop listening to too many motivational quotes to numb yourself. See hope, have a strong belief and goal, and work diligently to achieve results. Everything has cause and effect; the more effort we put into the result, the more we will receive. I suggest everyone read a novel called 'The Distant Savior' and watch a TV series called 'The Way of Heaven'. The only thing that can truly help us is ourselves. Only when we become aware and awakened ourselves, wanting to improve through learning and seeking success, can we start growing. Start right away; as long as you take action, it’s never too late.
We are continuously laying out our strategies; the opportunities in the crypto market do not come from waiting. When we have made enough careful preparations, when opportunities arise, we will have the strength to seize them.
