A friend told me today that trading cryptocurrencies left him bankrupt and hopeless; what should I do?
1. 9 'life-saving mantras' in the currency circle, wait for the right timing before taking action.
1. Buy horizontally, buy the dips, don’t buy vertically; sell points are where the market is most fervent.
Meaning: During sideways consolidation, you can buy; buy at the 'pit' formed after a decline (low point); but don't chase rapid vertical rises; sell points are at the peak of market enthusiasm when everyone is shouting for rises.
For example, in 2024, Bitcoin consolidated between $38,000 and $42,000 for a month; buying at this point stabilizes costs; later, when it drops to $35,000 forming a 'pit', it's also an excellent buying point. When all your friends are talking about 'Bitcoin breaking $100,000', it's a signal to sell in batches.