The Myth of Getting Rich in the Crypto World: How Difficult is it to Turn Thousands into a Million?
In the crypto world, you've definitely heard stories like this: someone turned a few thousand as capital into a million in half a year, achieving financial freedom. But the truth is that these stories are either survivor bias or scripts for scamming.
As someone who has gone through three bull and bear markets, I've seen too many people enter with high hopes, only to leave in disappointment.
In 2015, I entered with 500,000, peaked at 30 million, and then experienced liquidation and loss to zero, finally grasping a bit of the way.
Today, I will share my most genuine experience with you: how many hurdles does an ordinary person need to overcome to earn a million from a few thousand?
First hurdle: Awareness Hurdle, what gives you the right to earn money?
The crypto market is a zero-sum game, the money you make is definitely someone else's loss. Ask yourself:
Are you among that 20% of profitable few, or the 80% of losers?
Can your knowledge base crush most of the trend-following players?
Can you see through the tricks of the market makers?
If the answer is no to all, then the money you make from luck will eventually be lost back due to your lack of skill.
Second hurdle: Strategy Hurdle, blindly following others leads to a dead end.
Most people lose money because they are always chasing the highs and lows:
FOMO buying at a peak during a bull market
Panic selling during a bear market, collapsing just before dawn.
Blindly following KOLs and community calls, becoming someone else's exit liquidity.
Real winners have their own strategies: either deeply investing in value coins for long-term positions, or mastering short-term fluctuations and timing, even using contracts to hedge risks... but regardless of the method, it requires strong discipline.
Third hurdle: Mentality Hurdle, can you withstand the test of human nature?
The cruelest part of the crypto world is that it infinitely amplifies your greed and fear:
When you see others getting rich, can you resist going ALL IN?
When there's a 50% drop, do you dare to increase your position against the trend?
After doubling your profits, will you take profits in time?
Many people don't lose to the market; they lose to themselves.
If you are still confused and don’t know how to develop your own investment strategy, or want to learn how to seize early opportunities through on-chain data, feel free to talk to me. Remember: in the crypto world, information disparity equals wealth disparity.