But holding coins can indeed lead to wealth.
I started dollar-cost averaging at the end of 2018, with a combination of btc + eth + bnb, investing 1000-1500 every month, accumulating over 60,000 RMB. Now it has reached 460,000, which, while not a lot, is considered wealth for me with an annual salary of 120,000.
I have held onto the Bitcoin I bought back in 2013 until now, no need to elaborate.
I started buying various coins in June 2020, basically not operating in between, slowly selling 25% after a 40% rise, with a cost of around 100,000. I have rotated my buys, and now I have cashed out 370,000, with nearly 270,000 remaining.
There’s also DeFi mining, not seeking to get rich overnight, being satisfied with an annualized return of over 30%, 200% would of course be better. I just mine stablecoins or stablecoin trading pairs, not looking for gains but hoping for no losses, exchanging time for returns, it's been over half a year now, and I've earned over 100,000.
The cryptocurrency market is quite a wild west, there are many traps but also many opportunities. It's precisely because of this that so many people come to mine for gold, there's usually a reason behind everything. Therefore, maintaining a certain information advantage, action advantage, and mindset advantage, participating only with funds you can afford, thinking and being cautious, earning a bit of pocket money is not difficult. Anyway, my target is not high, being satisfied with an annualized return over 20%.
However, (short-term) trading is another story altogether, it completely relies on luck. Anyway, I get itchy hands every time, putting in a few thousand to trade, and the result is always a loss, 100%, without exception. Mid-term trading is not much better because selecting coins requires a considerable amount of research, understanding, and experience. Without these foundations, it's very likely that you end up with a pile of air thinking it's treasure, and no one knows how the market trend will be. Once the market reverses, you might just get buried.
Still the same saying, bulls have their strategies, bears have their ways of playing.
I won't lead fans to liquidation, nor will I blindly open positions.
It’s all about seeking victory steadily, making solid progress. Those who want to eat meat should keep up!
Continuously monitor BTC ETH BNB.
