It’s possible, but 99% of people do not have this awareness or patience. They don’t avoid altcoins, don’t do swing trading, don’t engage in short-term trading, don’t participate in DeFi, GameFi, don’t buy NFTs, and don’t trade contracts. Can you do all of the above? 99% of people cannot, and thus 99% of people cannot turn their lives around.
Many newcomers are attracted by so-called stories of getting rich quickly, like Dogecoin or Shiba Inu. They see things surging and are driven by FOMO to buy these so-called surging altcoins, and inevitably, they all end up being the ones who get 'cut down' like leeks.
Some people might say, I made ten times my investment, or I made tens of thousands or hundreds of thousands. I must tell you that almost everyone who makes money from altcoins purely by luck ends up losing it all through their own strength. Just look at the K-line trends of all altcoins, and you will understand.
Some people might say, I made tens of thousands of dollars, so I sold and won't touch it again. Let me analyze two situations for you.
If you make a little profit and sell it off, never to touch it again, I’ll tell you that this profit could have been earned by holding Bitcoin (BTC) for a period of time.
If you’ve made some profits and want to make even more, the ending will be losing everything. You might as well just hold onto Bitcoin (BTC) without selling from the start; the returns will definitely be better than what you would lose.
There’s also a recent trend with things like DeFi, GameFi, NFTs, etc. I admit that some of these are innovations, but I must tell you that these are not suitable for newcomers, nor for those with very little capital. Most newcomers or those with limited funds who get involved in these will likely end up losing everything.
To be honest, I've been in the crypto world for many years, and I've seen two types of people who make money: one is those who take advantage of various opportunities without any investment, and the other is those who hold Bitcoin or Ethereum for three to five years without selling. If you want to turn your life around through crypto, these are the only two paths, especially for newcomers.
