Bitcoin has broken through $111,000, and Bitcoin's market share has begun to turn downward, while other altcoins have visibly started to rise today.
You definitely have the urge to act, trying to find a way to throw some money in, hoping to make a profit from this bull market. Now you probably feel a bit regretful, 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 market conditions are good later, you could make big money with random purchases. However, even if the market gets better, it won't be a widespread increase like before; the high zones of altcoins are already littered with bones.
Because this time, the large purchases of Bitcoin are by institutions. After making profits, they are not selling off to invest in altcoins like before, but are instead not selling at all and directly withdrawing the coins for custody. This leads to a reduction in funds flowing into altcoins; even if altcoins rise, it will not be a general increase. The ones that can rise are likely just a few mainstream ones, and a three to five times increase is about the limit; don't fantasize about ten or hundred times.
In other words, starting today until the end of the bull market, if you can earn three times your investment, you are an impressive 'sheep'. My consistent approach is: it's okay to earn a little, but don't lose money. Losing a bit here and a bit there means your money keeps dwindling, making it hard to accumulate wealth. If you earn three times this time and catch another opportunity next time, starting from 100,000, you can basically reach a million.
But you must avoid the following characteristics of 'sheep' behavior. Even if you make money in the cryptocurrency market, you can still be a 'sheep':
First: Not willing to sell when in profit. For example, if you start with 100,000 and earn 300,000, then it drops to 250,000, and you still fantasize about it returning to 300,000. When it indeed reaches 300,000, you think about earning another 100,000. Having this mindset undoubtedly makes you a 'sheep', and you will end up losing everything. My method is: I expect to earn a certain amount, and if it doesn't meet expectations and starts to decline, I take the remaining profits and walk away, waiting for the next opportunity.
Second: The final climax of the bull market is extremely crazy; some coins may experience a tenfold increase in a day, but you will only hear about others' stories of getting rich. If you made money earlier, your confidence swells, and then you want to earn more, putting all your principal and profits into it, you may eventually encounter the start of a bear market. This is about wanting to take a last big gamble to turn things around. If you play, use only 10% of your assets; if you really hit it big, consider it good luck, and the assets you earned will roughly double.
Third: After making money, you don't cash out; you directly convert all your USDT into BTC, secretly vow to hold for 10 years but don't lock your coins. This will greatly test your patience. I suggest you start dollar-cost averaging into BTC when the market returns to a cold and desperate state, or starting dollar-cost averaging isn't a problem, but don't think that since BTC is good, you should go all in. BTC is good, but it only belongs to those who can endure the bear market. First, have the patience to survive the bear market, then talk about holding for ten years. This already belongs to a higher level of 'sheep' awareness.
Fourth: During the decline, you think about shorting to make a big profit. This is suitable for experts; beginners should stay away from contracts. As long as you have made money once on contracts, you'll think about going back to make money whenever there are no opportunities, leading to intermittent cognitive dissonance regarding contracts, always believing you are the exception who can profit.
Fifth: In excitement, you start to forget yourself, speaking loudly to others, becoming impatient with those around you, no longer smoking the 20 yuan cigarettes, starting to dislike the 150,000 yuan car, buying whatever you like, becoming infatuated with beautiful women, and starting to tip beautiful women on live streams, etc. Once you have this proud mindset, it is a precursor to decline.
Sixth: Stop studying the cryptocurrency market and no longer pay attention, and you will start to lose touch. Making money in cryptocurrency is a skill, and you need to be proficient; you must constantly pay attention to information. Don't listen to people saying, 'The more you know, the more you lose.' Losing a lot is definitely due to not understanding and making reckless trades.
Seventh: Do not engage in financial management, thinking about earning that little bit of interest from on-chain investments, as the pool may be attacked. A few days ago, the SUI ecosystem pool was attacked, resulting in someone losing 2 million dollars. It's best to convert your USDT into cash; if you don't convert, keep your USDT in a cold wallet. By the way, it's best to use the ERC20 chain, because I know several people who lost their funds on the Tron chain due to multi-signature issues, and they don't even know which part went wrong. If you search online, there are numerous such cases.
Eighth: Suppose you are particularly lucky in this bull market and make tens of millions; it must be earned by luck. Remember the previous seven points, and at the same time, be wary of being lured into investments by others, and don't be deceived by those who provide extreme emotional value. Yesterday someone asked to borrow money from me, and today someone asked me to invest in something, claiming a financial big shot from Shanghai had arrived. I directly said I wasn't interested, then they sent me a beautiful tea artist, inviting me to drink tea. I said she was lovely, but I needed to study and read, so I didn't have time.