Bitcoin has broken through $111,000, and Bitcoin's market share has started to show a downward turn, while other altcoins are visibly starting to rise today.
You must be feeling restless, trying to find ways to get some money to gamble in, hoping to profit in this bull market. You are probably feeling a bit regretful now, wondering why you didn't buy in the first half of the month; if you had, you might have already doubled your investment.
If the subsequent market is good enough, you could randomly buy and still make a lot of money. However, even if the market improves, it won't be a comprehensive increase like in the previous bull market; the high positions of altcoins have already seen many casualties.
Because this time, those who bought Bitcoin are institutions. After the institutions have made a profit on Bitcoin, they are not selling it off to invest in altcoins like before, but are simply not selling at all, directly withdrawing the coins for custody. This will inevitably reduce the funds flowing into altcoins, and even if altcoins rise, it won't be a widespread increase. The ones that might rise are just a few mainstream ones, which may only double or triple at most; don't fantasize about tenfold or hundredfold returns.
That is to say, from today until the end of the bull market, if you can make three times the profit, you are an impressive investor. My consistent approach is: it's okay to earn less, but don't lose money. Losing a bit here and a bit there means your money will keep decreasing, making it hard to build wealth. If you make three times this time, and catch another opportunity next time, starting with 100,000 can basically get you to a million.
But you must avoid the characteristics of the following novice investor behaviors. Even if you make money in the crypto space, you might still be a novice investor:
First: Not willing to sell after making a profit. For example, if you start with 100,000 and make it to 300,000, then it drops to 250,000, still fantasizing about getting back to 300,000, and when it actually does reach 300,000, you want to make another 100,000. This mentality undoubtedly marks you as a novice investor, and in the end, you will lose everything. My method is: I set a profit expectation, and if it doesn't meet that expectation and starts to decline, I take the remaining profit and leave, waiting for the next opportunity.
Second: The final climax of the bull market is extremely frenzied. Some coins might see tenfold increases in a day, but you will only hear stories of others becoming rich. If you've made money earlier and your confidence is inflated, wanting to earn even more may lead you to invest all your principal plus profits, and in the end, you might encounter the onset of a bear market. This is akin to trying to make one last big score to turn things around. If you're going to play, use only 10% of your assets; if you really luck out, that's just good fortune, and the assets you earn will almost double again.
Third: After making money, you don't cash out, directly converting all your USDT into BTC, secretly vowing not to touch it for ten years, yet you don't lock up the coins. This can seriously test your patience. I suggest you start dollar-cost averaging into BTC when the market returns to a cold despair, or just start dollar-cost averaging right away; however, don't think BTC is great and then gamble all your funds into it. BTC is good, but it only belongs to those who can withstand a bear market. First, be patient enough to endure the bear market, then discuss holding for ten years. This already falls under a higher level of novice investor awareness.
Fourth: During a downtrend, thinking about going short to make a big profit. This is suitable for experts; newcomers should stay far away from contracts. As long as you've made money on contracts once, when you find no more opportunities, you will want to try to make money again, leading to intermittent cognitive dissonance about contracts, always thinking you're the exception that can make money.
Fifth: In excitement, you forget yourself, gradually start speaking loudly to others, become impatient with those around you, stop smoking the 20 yuan cigarettes, start to disdain the 150,000 yuan car, begin buying whatever you like, and develop a fascination with beautiful women, even tipping live streamers. Once you have this kind of prideful mentality, it is a precursor to decline.
Sixth: Stop learning about the crypto space and no longer pay attention, leading to a decline in your skills. Making money in crypto is a skill that requires mastery; you need to stay informed at all times. Don't listen to people saying, 'The more you know, the more you lose.' Losing a lot usually comes from not understanding and making reckless trades.
Seventh: Don't engage in wealth management, thinking of earning that little interest on-chain, which could lead to your pool being attacked. A few days ago, the SUI ecological pool was attacked, resulting in someone losing 2 million dollars. It's best to exchange your USDT for cash; if not, it’s better to keep your USDT in a cold wallet. By the way, an ERC20 chain is preferable because I know several people who encountered multi-signature issues on the Tron chain and didn't even know where the problem occurred. If you search online, you'll find many such cases.
Eighth: Suppose you are particularly lucky in this bull market and made several tens of millions; that must have come from luck. Remember the first seven points, and be cautious not to be lured into investments by others or misled by those who provide extreme emotional value. Yesterday someone asked to borrow money from me, and today someone wanted me to invest in something, claiming a financial big shot from Shanghai has arrived. I directly said I'm not interested, and then they sent me a beautiful tea artist inviting me to tea. I said she looks great, but I need to study and read, so I have no time.
