Recently, many friends have asked me how to play in the cryptocurrency world. As someone who has been through it, I want to share some "unwritten rules" of the crypto space today, so you can avoid unnecessary detours and get rich sooner!
1. In a bull market, don't talk about the top; in a bear market, don't talk about the bottom.
The fluctuations in the crypto market exceed your imagination. You might think it's already at the top, but it can still multiply several times; you might think it's already at the bottom, but it can still be cut in half. So, don't make predictions about the market easily; going with the trend is key!
2. Don't go all in; diversify your investments.
The risks in the crypto space are extremely high; never put all your funds into one cryptocurrency. Diversify your investments to reduce risk, so you can sleep soundly. Remember, as long as there are mountains, you won't worry about firewood!
3. Information is very important, but don't blindly follow the crowd.
In the cryptocurrency world, information is everywhere, and it's hard to distinguish between true and false. Don't rush in when you see good news, and don't panic when you see bad news. Study the project's fundamentals more, and rational judgment is key.
4. Learn to take profits and cut losses.
If you make money, don't be greedy; take profits in a timely manner. If you lose money, don't hold on stubbornly; cut losses promptly. The cryptocurrency market is volatile, so keep a stable mindset, and don't let emotions dictate your actions.
5. Hold long-term and wait patiently.
The cryptocurrency market has severe short-term fluctuations, but in the long run, quality projects will always stand out. If you are optimistic about a project, consider holding it patiently and waiting for the rewards of time.
6. Don't borrow money to trade cryptocurrencies.
The risks in the cryptocurrency market are extremely high; borrowing to trade is akin to gambling. Once the market drops, you will face enormous repayment pressure, and you might even face liquidation. Remember, invest with spare money; don’t risk your necessities for life.
7. Keep learning and continuously improve.
The cryptocurrency world changes rapidly, with new technologies and new projects emerging constantly. Only by continuously learning can you keep up with the market's pace and seize new opportunities.
Finally, remember this: there are risks in the cryptocurrency market; be cautious when entering! I hope everyone can find their own wealth code in the crypto space.
If you are blindly guessing trends in the market alone, but always end up going against the grain!
If you lack support from technical analysis and news, and only look at the decline leaderboard and popularity leaderboard to make trades!
Then it won't last long. Follow me, Ping Lun 55, and take one or two trades a day; take profits when you see them.
Uncertainty brings! Those with strong execution are welcome!
$BTC
