Xiao Bai has many ways to navigate the cryptocurrency world, and there are definitely a few methods suitable for you right now:
You have 1 million yuan in assets and decide to use 700,000 yuan to buy a cryptocurrency.
On the first day, the coin dropped by 1%, and you lost 7,000 yuan, but you don’t mind, believing that the coin price will rebound sooner or later.
On the second day, the coin price dropped another 3%, and you lost nearly 20,000 yuan, still firmly believing it will rise again.
On the third day, the coin price increased by 2%, recovering about 10,000 yuan of your loss, and your mood slightly improved, feeling that everything is under control.
On the fourth day, the coin price suddenly plummeted by 20%, and you lost 140,000 yuan, starting to feel uneasy, hoping for a rebound the next day.
On the fifth day, the coin price rebounded by 5%, and you breathed a sigh of relief, feeling that trading cryptocurrencies has its rules.
On the sixth day, the coin price rose again by 1%, although the increase was small, at least there was hope for breaking even, and you felt satisfied.
On the seventh day, the coin price rose another 1%, and you began to look forward to future trends.
On the eighth day, the coin price continued to rise slowly, but you remained optimistic inside, believing that there would be a day to break even.
On the ninth day, the coin price suddenly plummeted by 30%, and you began to panic, doubting whether you had chosen the wrong coin.
On the tenth day, the coin price dropped another 10%, and you felt angry and disappointed.
On the eleventh day, the coin price entered a consolidation phase, and you saw people online saying this was a signal of bottoming out, believing that the market was accumulating momentum, and were convinced that the coin price would rebound soon.
In the following week, the coin price continued to consolidate. You went online to learn more about cryptocurrencies, believing this was the "main force accumulation stage," so you continued to hold the coin.
A month later, the coin price not only did not rebound but continued to drop by 20%, and you began to feel numb, thinking that it would be great if you could just break even, deciding to withdraw your funds and stay away from cryptocurrencies.
But things did not go as planned, and the coin price continued to drop. At this point, you finally understood the concept of "stop loss." You were in inner turmoil, not knowing whether to liquidate your holdings or continue to hold.
Just then, a friend of yours told you that a new coin had recently surged by 200% and shared his "leading strategy."
You believed him, sold the coins you held, and told yourself to wait until you made enough money on the new coin to come back and average down, intending to hold long-term after breaking even.
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