A few days ago, the market was booming, and many friends I hadn't contacted for a long time came to ask me how to trade coins, reminiscent of March and April 2021. As a veteran who has experienced three rounds of bull and bear markets, I only have one piece of advice for them: newcomers are likely to lose money, making money in the cryptocurrency world is not that easy.

Let me give everyone currently in the circle a piece of advice: no matter how well you are doing, never think about helping others make money. No matter if that person is a good friend, a close brother, or even a relative, helping others make money is a hundred times harder than making money yourself.

Let me share some personal experiences from these years:

1. At the bottom of the bear market in early 2020, I developed a very impressive quantitative strategy (I made my first big money in the cryptocurrency world using this strategy). At that time, I didn't have much capital, and a good friend of mine became very interested after hearing about this strategy and wanted to invest some money. This strategy is based on BTC, so to enter, one needs to buy BTC, which was around 4,000 at the time. He invested 10 BTC, but during the fluctuating market, the strategy had no significant gains after a month, and when BTC dropped to 3,500, he could not hold on and chose to liquidate. Later, during the small bull market in mid-2020, the strategy took off directly.

Later, when he wanted to enter the market again during the 2021 bull market when SHIB was booming, I was glad to have persuaded him against it, as 519 happened afterward.

2. A classmate asked me if he could buy coins when BTC was at 8,000 in 2020. I said of course he could buy, but he needed to hold it long-term. He said he planned to hold long-term, so he bought a few. However, it wasn't long before BTC rose to 10,000, and he couldn't hold on and sold it, making a profit of 2,000 U, and he never entered the market again.

3. My former boss, who had a very good relationship with me, was the vice president of our bank's headquarters and is considered a big figure in the domestic financial market. In November 2021, just before the peak of the bull market, he asked me out for coffee and inquired if he could buy coins. I advised him to wait and see or consider dollar-cost averaging into the next cycle, and not long after, it peaked at 69,000.

When this round of Bitcoin broke new highs, he asked me if he could buy, and then it significantly retraced. No matter how impressive someone is in other markets, even in traditional finance, they can still be caught off guard in the cryptocurrency circle.

4. Another friend from the bank, who is also considered an old hand in the gold market, has been asking me about various cryptocurrency strategies since the beginning of the bull market in 2021, from arbitrage to funding fees, trading new listings on exchanges, on-chain DEFI, etc. Initially, I shared everything I knew. However, when he came back to ask me a few months later, I found that none of what I had previously told him had been put into practice. I patiently told him that he might as well focus on dollar-cost averaging and hold until the next bull market. Recently, now that the bull market is back, he came to find me, saying he sold a house and wanted to see what investment opportunities there are in the cryptocurrency world. I know he definitely hasn’t been dollar-cost averaging in the past few years.

For most friends without experience who come to ask me, I usually recommend they dollar-cost average BTC. This is indeed the simplest and most likely way to make money in the cryptocurrency world, requiring only perseverance and patience. But even this simplest method is something that over 95% of people cannot achieve.

The only unexpected thing for me over the years has been my friend's wife. During the bear market in November 2022, when the coin price was only 18,000, we had dinner together and talked about the crypto world. For a girl with no investment experience, I was reluctant to give any advice. I just said I would send her a book to read (Jiushen's (Hoarding Bitcoin)). I told her to read this book several times, and if she could resonate with it, then start buying coins. I suggested she choose dollar-cost averaging and hold until the next bull market. At that time, I didn't think she could stick with it, but recently my wife told me that she has actually been dollar-cost averaging, and her cost might be less than 30,000, and she has been holding on, which really surprised me.

What is played in the cryptocurrency world is not investment, but human nature.

This article is intended to give a little advice to friends inside and outside the cryptocurrency circle.