Those who can truly make big money in the cryptocurrency space are not the traders but the holders. The key is whether you have coins in hand, not the current market price fluctuations...
In the cryptocurrency space, those who hold their coins have three basic elements:
1. To hold coins, you must invest with spare money. Do not go all in. If the market does not meet expectations or declines, and you need money, you can only bear the pain of cutting losses.
2. To hold coins, you must have faith in value. You should learn more about the founder's intentions, ideological consensus, underlying technical strength, ecological construction, and future value consensus, etc.
3. To hold coins, you must remain calm. In the face of future value, do not care about the temporary price fluctuations, but care about how many coins you can hold when the price reaches your desired level in the future.
The second is consensus:
How do consensus builders accumulate?
1. After countless ups and downs, all speculators are eliminated in the fluctuations, leaving only consensus builders!
2. Bitcoin was worthless in its first year. After 10 years of countless ups and downs, it kicked out speculators and non-believers, ultimately accumulating a massive consensus, and thus became valuable!
3. Ethereum was worthless at first. After 5 years of countless ups and downs, it kicked out speculators and accumulated consensus, and thus became valuable!
The third is persistence:
1. It is better to work on one project for 5 years than to switch between 5 projects in one year.
2. It is better to be a little slower but more stable.
3. It is the ability to accumulate that counts. Do not think about making quick money!
The last point is important. If the price falls, do not sell. When your capital doubles, do not be greedy. As long as you do not sell, the market cannot cut you off.
