In the cryptocurrency world, there are always some people losing money, while others are making money. Do you understand the reasons behind it? The confidence and greed of following the crowd without any basis or discernment mean that 99.9% of people entering without thinking will certainly lose money. Whether relying on technical analysis, stock news, or other logical perspectives, if you cannot prove you are right, then the result is wrong. If we are wrong ourselves, we must admit our mistakes; therefore, one must learn to think critically. To find the reasons behind losses, one must also look for the reasons behind profits.
The cryptocurrency world has been mythologized and has also faced destruction. Nowadays, various strange currencies keep emerging in the market, and there are far more speculators than those who understand. For the 22-year-old cryptocurrency tycoon, Shen Yu, who is worth hundreds of millions, Bitcoin is a belief. He advises those around him to own at least one Bitcoin because it is the 'ticket to the world of the future.' Great wealth is merely an attachment to his belief, but it has allowed him to witness the joys and sorrows of the world.
After leaving Foxconn in Zhengzhou and making 30,000 a day trading cryptocurrencies, Zeng Wen confidently bid farewell to the 'wrong path' of working for money. Waking up every day with millions in his account, 22-year-old cryptocurrency tycoon Shen Yu panicked: 'I don’t know what to do with so much money.' Liu Ke, a second-year student, felt that 'trading cryptocurrencies is like using an ATM.' They have all gotten rich overnight and have also gone bankrupt in the blink of an eye; some have started over, while others have fled abroad to escape debts. Is this cryptocurrency dream an opportunity or a hardship?
Finally, in 2017, when virtual currencies surged, Zeng Wen saw an opportunity to turn things around and borrowed 5,000 yuan to rush into the cryptocurrency market. He made over 200,000 from that 5,000, 'People in the crypto world went crazy, not looking at market research reports, just throwing money in.' The crazy market allowed Zeng Wen to quickly pay off his debts, and he simply quit his job at Foxconn in Zhengzhou, trading cryptocurrencies from home, making as much as 30,000 a day at the peak.
He does not dare to believe in Bitcoin and does not understand blockchain technology. 'I haven't studied blockchain technology and virtual currencies; that's what professionals should master. I am just a participant; I only need to gain benefits from it. I don't care about future virtual currencies; I just follow the trends, hoping to share in the profits.'
Zeng Wen treats the cryptocurrency world as another online investment platform game, being one of the early trend followers, making money from those who entered later.
Little did he know he was 'being cut.' Starting in mid to late January 2018, Bitcoin began a downward spiral; in just the first three months, it dropped nearly 50%. Zeng Wen lost all the money he had earned in the crypto market and became poor again. Standing at the wind's mouth, even pigs can fly, but when the wind stops, those flying pigs fall harder than anyone else. Zeng Wen has tasted the sweetness of getting rich overnight and has also personally swallowed the bitter fruits of speculation. He once thought that speculation in the cryptocurrency world was the only way for him to achieve 'middle-class transcendence.'
Still the same saying, if you don't know what to do in a bull market, click on my profile, follow me, for bull market spot planning, contract passwords, and free sharing.
I need fans, and you need references. Guessing blindly is worse than following trends.
