However, holding coins can indeed lead to wealth.
I started dollar-cost averaging at the end of 2018, with a combination of BTC, ETH, and BNB, investing 1,000-1,500 every month, accumulating over 60,000 RMB. Now it has reached 460,000. Although it’s not a large amount, for someone with an annual salary of 120,000, it is already considered a fortune.
I have held onto Bitcoin since 2013, no need for further details.
I started buying various coins in June 2020, basically not trading in between, gradually selling 25% after a 40% rise, with a cost of around 100,000. I rotated my purchases and have now cashed out 370,000, with nearly 270,000 remaining.
There is also defi mining, I don't seek to get rich quickly, being satisfied with an annualized return of over 30%, 200% would of course be better. I mine stablecoins or stablecoin trading pairs, seeking to avoid losses rather than aiming for gains, using time to exchange for returns, continuing for more than half a year, earning also over 100,000.
The cryptocurrency market is a wild market, there are many pitfalls, but also many opportunities. It is precisely because of this that so many people come to mine for gold. Rumors arise from truth, and events have their causes. Therefore, maintain a certain information advantage, action advantage, and mindset advantage, participate only with funds you can afford, and persist in thinking and caution. Earning some pocket money is not difficult; anyway, my goal is not high, being satisfied with an annualized return of over 20%.
However, (short-term) trading coins is another matter entirely, it relies completely on luck. Every time I get itchy hands, I invest a few thousand yuan to trade coins, and the result is always a loss, 100%, without exception. Mid-term trading isn’t much better either, because selecting coins requires a considerable degree of research, understanding, and experience. Without this foundation, you might end up holding a bunch of worthless assets, and no one knows how the market trend will go. Once the market reverses, you could easily get buried.
Still, the saying goes, bulls have bull strategies, and bears have bear tactics.
I won’t lead fans to liquidation, nor will I blindly open positions.
It’s all about seeking victory steadily, taking solid steps. Those who want to eat meat, keep up!
Continuously monitor BTC, ETH, BNB.