Can trading cryptocurrencies really make you rich?
Having spent a few years in the crypto space, I've tried long-term, short-term, ultra-short, and swing trading; I've pretty much done every type of method. So I have a say on this question!
In fact, anyone who's been in the crypto space knows that every year there are several waves of small market movements, and every four years there's a halving event that leads to a significant bull market. If you grasp the market trends well, making money is really not difficult; for us ordinary people, it's a great opportunity to turn things around!
Crypto trading mainly involves two types: spot and contracts! Let's talk about spot first, which means holding coins. When entering a bear market, most coins have already dropped significantly, and you can choose the right time to enter, buy in batches, and then just hold until the bull market doubles your investment. The method is quite simple, but whether you can hold on depends on the individual! For this bull market, I have basically doubled and exited from a few coins I've held in the first half of 2024! The returns are quite good!
Next is contracts. Most people say it's hard to play, and indeed it is. Without a certain method and self-discipline, it's really challenging, and many end up losing everything! Here, I want to emphasize three points: first, choose the right timing to enter; second, manage your position well; third, understand when to take profits and cut losses! If you can do these three things well, you can achieve steady and continuous profits in the contract market!