8 Key Principles of the Crypto World: Strategies for Turning 50,000 into 2.58 Million

After 6 years in the crypto space, having gone through countless detours and suffered over twenty liquidations, I have summarized 8 key principles that can help anyone!

1. Utilize Morning Trends: The morning is a time when market sentiment is very pure. If the price drops sharply, don’t panic; this might be a good opportunity to buy the dip. If the price rises significantly in the morning, don’t get greedy; take the opportunity to realize profits and secure your gains.

2. Master Afternoon Strategies: If there’s a sudden surge in the afternoon, don’t get carried away and follow the crowd, as this is often a false rally. Buying at high points can lead to losses; conversely, if the afternoon sees a decline, it’s wise to stay calm, observe for a while, and look for a low point to enter between 16:00-17:00, which often leads to gains.

3. Maintain a Steady Mindset During Downtrends: If you wake up to see prices dropping in the morning, don’t rush to cut losses. The market changes rapidly, and morning fluctuations are often misleading. If the market is stagnant and shows no signs of movement, don’t be anxious; take a break, conserve your energy, and wait for opportunities.

4. Strictly Adhere to Trading Principles: If the coins you hold haven’t reached your expected high, don’t easily sell off; earning less is still a loss. If the price hasn’t fallen to your psychological level, hold back and don’t rashly enter, to avoid buying at a mid-point. During sideways market phases, where movements are chaotic and direction is unclear, trading is akin to blindfolded exploration; it’s better to watch from the sidelines.

5. Operate with Candlestick Patterns: Enter on bearish candles and exit on bullish candles; this is a classic strategy. A bearish candle indicates a price correction, and oil becomes cheaper, making it a good entry point; a bullish candle indicates a short-term rally, signaling the time to sell high and secure profits.

6. Think Contrarily to Break Through: To stand out in the crypto world, sometimes you need to go against the grain. When everyone is fervently buying, maintain a level head; when panic-selling occurs, be bold and dare to act contrarily, as this can lead to niche opportunities for wealth outside mainstream trends.

7. Endure the Pain of Consolidation: When prices consolidate at high or low levels for an extended period, it can be agonizing. At this time, don’t let anxiety drive you into rash actions; stay patient and calm, and wait until the trend becomes clear, whether it's an upward or downward movement, before making a decisive move.

8. Seize the Last Surge: After a prolonged period of horizontal trading at high levels, if there is a renewed upward push, don’t hesitate; this is likely the final frenzy. Sell in a timely manner to secure your profits; otherwise, they may slip away in an instant.