7 Stages of Making Money in the Cryptocurrency World
Stage 1: The Protection Period for New Investors. Buying in during a bull market guarantees profit, witnessing the allure of the crypto space, watching assets skyrocket, feeling happy every day, eventually thinking they bought too little, borrowing money to invest heavily, getting trapped at the peak, not considering selling even when profits are high. When the bear market ends, profits diminish and losses occur, leading to despair. At this moment, they realize the concept of 'value investing'.
Stage 2: After experiencing losses, they begin to study trading techniques, managing to catch trends, buying and profiting, but ultimately missing out on major market movements, only earning small gains.
Stage 3: Engaging in in-depth research, struggling to learn techniques, starting to study bottom-fishing and peak-selling, but continually buying lower until they run out of capital, still enduring price drops, grasping the methods of technical bottom-fishing.
Stage 4: Delving into technology, gaining a deeper understanding but lacking in capital management, potentially encountering a black swan event that results in total loss.
Stage 5: Entering a conservative mindset, fearing all currencies, hesitant to act casually, doubting all news, starting to research tags independently, cautiously buying, learning to observe market sentiment, beginning to understand the logic and financial prospects of market speculation, as well as risk management.
Stage 6: Overcoming arrogance, embracing humility, respecting the market, no longer greedy nor fearful, believing that the market is always right, feeling that earning a portion is already a success. They no longer harbor ambitions of making huge profits but are satisfied with any earnings, indifferent to minor losses.
Stage 7: Being able to seize opportunities in market fear, recognizing crises within FOMO emotions, identifying market hotspots, understanding whether prices are high or low. They stop seeking to make big profits, instead aiming to earn small amounts consistently, accumulating profits of 3-5 times from each major trend, where each time they earn 50%, knowing when to exit. At this moment, you have achieved success in the cryptocurrency world.
