About the Crypto Market
The co-founder of Binance, "CZ", stated in an interview that the cryptocurrency market is about to ruin 95% of current investors.
In a recent tweet, he claimed that only 5% of investors truly understand the complexities of the crypto market.
He highlighted that 80% are merely "tourists" who come in and out based on the latest news, 10% invest due to "unreliable influencers", and only the remaining 5% set a goal of staying in the market in search of real profits.
There is no way to disagree with his statements, as this is truly what happens; if there is a media hype about market highs, everyone rushes to put money in and try to get some return, but in moments of retraction, they are the first to abandon ship.
To invest in this market and actually get some return, an investor needs to have 3 things:
- Cold blood to invest in a highly volatile and unpredictable market.
- Nerves of steel, accepting losses is part of the process; it is truly impossible to get it right in every trade.
- Patience, as it is not overnight that your PNL will grow.