These days, every group is lifeless; when I opened it, I found that Bitcoin had reached a new high, while altcoins have been continuously declining, which has shaken many people's confidence.
Various voices have emerged, saying that the bull market is about to be a fleeting moment. Some even say that Bitcoin is a tool for Americans to harvest global wealth.
If you just entered this circle in the past six months, this may be your first time witnessing the cruelty of the crypto world. You came because of rising prices and high returns, but the Bitcoin train is powered by the wealth of countless 'smart people'.
By the time we react, it will be too late. It's like last year when I kept saying that what seems like junk now, in a bull market, is everywhere gold.
But if you are on a contract, then between coming and going, your position might be gone.
The current situation is very similar to what it was in October last year. I remember clearly that Bitcoin returned to 60,000 while altcoins were still hitting new lows. This correction is not as severe, but the market's panic sentiment is almost unanimous.
But since then, BTC and altcoins have embarked on a vigorous rise that lasted for two months.
I often jokingly say:
For assets with very new concepts, if you do not have the psychological endurance to withstand a 70% drop within three days, do not invest in cryptocurrencies.
Such people cannot see the Ordi/Atom at that time, do not believe in the DA module blockchain, will never see a bull market, and do not believe in any MEME.
If they had encountered BTC at its inception, they would have preferred hot pizza over BTC. In their hearts, they do not believe in any possibility of making money in the medium to long term.
In their eyes, there is only cutting and being cut, only short-term gambling, only taking profits when things are good. When I say this, many people feel hurt, but so be it. The bull market has arrived; there is no time to be hurt, only confusion.
Calm down; we are long-term players. Yesterday Bitcoin had a slight drop, and various voices in other groups were saying it would go to 98,000, that it would crash, and making bearish calls. These are very restless behaviors; our community does not have such voices. Why?
Everyone is like-minded players; corrections in a bull market are not risks for us but opportunities. You must understand this principle. Several friends came to ask me how to analyze trends. After I explained this principle to them, they all felt relieved. Those who needed to average down did so, and those who needed to sleep slept, rather than nervously staring at the market.
In a bull market, minimize operations; mindset is very important. Let me share my mindset: if it rises, I should be happy, right? This means my decision has been validated; if it drops, I should also be happy. Why? Because I can get a lower-priced chip.
Previously, a fan asked me, seeing the current housing market and the upcoming bull market in crypto, can I pledge my house and go all in?
I say absolutely not, do not borrow money to trade cryptocurrencies, do not leverage in or out of the market.
Within a cycle, it is undoubted that Bitcoin outperforms housing.
However, just because Bitcoin outperforms housing does not mean you can ultimately hold onto Bitcoin and outperform housing; these are completely different matters!
So definitely do not sell or mortgage your only house to trade cryptocurrencies; this is the beginning of amplified gambling. A person with amplified gambling comes to a big casino; what good results can there be? If you have multiple houses, choose wisely, think about whether you are suitable for investment, and then make a decision.
If you are using borrowed money or have leveraged, can you really hold on in today's situation? Can you resist the urge to cut losses? It's really hard for me to withstand.
Based on prices now or in the next few months, after about two years, who will outperform whom? Normally, Bitcoin will definitely outperform real estate. However, the most dangerous part of investing in Bitcoin (cryptos) is not the short-term gains or losses, but whether you have enough composure to hold during an upward trend, not engaging in short-term trading, not fearing interim pullbacks to cut losses, not touching leveraged contracts that might explode, not getting scammed or robbed, not gambling on Ponzi schemes, etc. The answer lies within yourself.
The crypto world is not all about luxury cars, beautiful women, and drunkenness, nor is it all bloody cutting losses and gamblers exploding positions.
It can also be about having your own methodology, your own investment philosophy, and your own persistence, earning the money you deserve.
Think well, invest well, live well.
I have finished writing, keep going.
