Which types of people become 'penniless' from trading in the crypto world?
😅 Pure newbie players: Just stepping into the crypto world, they may stumble upon a coin that doubles their assets by chance. But don’t get too proud; they will quickly lose all their money due to various reckless actions. Their investment strategy is overly simplistic, going all-in, chasing prices when they go up, and selling off when they drop. They have no idea what reasonable investment allocation (position management) means, when to take profits (profit-taking), or when to cut losses; they are completely clueless. They are always fully invested, still blissfully unaware. (Newbies, the crypto world is not kind, it’s easy to lose money; observe more, act less!)
💸 Small fund dreamers: With just a few thousand U, they fantasize about becoming millionaires overnight. There are stories in the crypto world of turning thousands into millions, but most come from primary markets and contract trading. If a small fund chooses the wrong path to make money (track), it is as difficult to leap across social classes as climbing to the sky. The secondary market cannot offer hundredfold returns; high rewards rely on primary and contracts, but both carry frightening risks, and few can escape unscathed. (Pay attention, don’t be anxious!)
😒 Crypto giants: Complete newbies who understand nothing, like little children, waiting for others to spoon-feed them money-making methods, and they need to be praised and coaxed to accept it. These individuals are basically insulated from making money; who will always cater to you? Even parents only take care of you for a few years. This type loves to make money the lazy way, has a poor mentality, and complains endlessly about earning a little and losing a little. In the crypto world, a bad mindset renders everything useless!
😤 Stubborn copycat investors: They still stubbornly cling to altcoins, never considering mainstream coins like Bitcoin (BTC), Ethereum (ETH), or Binance Coin (BNB). Their risk tolerance is extremely low; they only see that altcoins are cheap and have high growth, ignoring the terrible consequences when they drop. Bitcoin, while expensive and slow to rise, is relatively stable. Many people stick to altcoins and end up waiting for a delisting notice from exchanges. In the crypto world, steady and solid progress is the way to go; slow is fast!
In short, the crypto world is like a battlefield, where the fittest survive. If you don’t want to be eliminated, you must change quickly, improve yourself, and stand firm in this wave! 💪
