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In the first months after I got into crypto, my portfolio performed poorly.There were several reasons for this, including my total lack of understanding of how this market worked at that point.After a while, I managed to become profitable.However, the mistakes I made at the beginning cost me a significant amount of money.But especially if you’re a beginner, you don’t have to repeat the same mistakes as me.Here are 7 crypto tips to help you make it in the next bull cycle:Bet less, but with higher convictionMany people are obsessed with diversification.Diversification is great, but for preserving wealth, not for building it.Indeed, it’s easier to sleep at night knowing that you have your investments spread across 15-20 projects and if one of them dies, this won’t have a big impact on your portfolio.But it’s insanely hard to build wealth this way.Instead, if for example, you like 25 projects, make just a few high-conviction big bets on the top 6-7 that you consider to be the most promising ones.It’s much easier to manage well up to 6-7 positions rather than 25.Don’t rotate out of winnersThat’s one of the biggest mistakes that many people do.If you see one of your tokens pumping hard while another one underperforms, it’s almost never a good idea to sell the top-performing token and increase your exposure to the loser.Let your winners run.Things will get crazy in the next bull market.And nothing hurts more than selling a token after it did a 2x, only to see it doing another 10x in the next months.Take profits, but only after your sell targets are hit or your non-crypto friends start calling you to ask what tokens they should buy.Understand that pumpamentals > fundamentals in a bull runPumpamentals are the factors that can drive a fast increase in the price of a token, but aren’t related in any way to the fundamentals.XRP hit a $80 billion market cap during the last bull cycle.This wouldn’t have been possible without its extremely active cult-like community.And there are many other tokens that reached insanely high valuations due to their strong pumpamentals.I think that fundamentals will eventually become the primary factor that will drive prices, but we’re still far away from that point in my opinion.So rather than focusing solely on finding the projects with the strongest fundamentals, try to also understand what makes retail investors buy a certain token.Retail investors are looking for simple narratives.In a bear market, those things matter the most:fundamentalsrevenue generationproduct market fitBut in a bull market, pumpamentals are becoming extremely important.charismatic cult leaderssocial media hypenarrative market fitstrong marketingI shared more thoughts about pumpamentals in this thread a while ago:Write down your investment thesisThis might seem boring and that’s not something that many people do.But as Louis Cooper perfectly said in the tweet below, writing can help you a lot to build conviction in your investments.It also helps to better understand what you’re investing in and identify gaps in your knowledge. On top of that, it’s easier to avoid investing based on FOMO when you force yourself to write your thesis before buying a token.Review your portfolio on a bi-monthly or monthly basisUnless you buy BTC or ETH, using a buy-and-forget strategy is a terrible idea.Crypto is moving at an extremely fast pace, and most projects become irrelevant in less than 2 years after their launch.This is why I recommend reviewing them regularly.Some things that I check when reviewing a project from my portfolio:the team’s recent progresson-chain metrics (revenue, fees, TVL, etc.)community strength (Is anyone talking about that project on X?)roadmap (what’s next for the projects you’re betting on?)As George Soros said, “It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong.”.The only way to minimize your losses is by cutting your losers early when the fundamentals change.Keep an open mind to new ideas and perspectivesOne way to increase your chances of making it is to invest in unpopular projects that are misunderstood before everyone starts talking about them.Saying “that would never work" without doing some research first is the most costly mistake you can make in a bull market.Constantly trying out new things can be extremely rewarding.On top of that, you might also get some airdrops by doing this.Also, if you can’t easily change your bias when new important information comes, you’re a project community member, not a real investor.Be open to accept that sometimes you’re wrong.The greatest traders have zero ego problems in saying “My analysis was wrong, I fucked up”.Create an exit strategyEveryone who didn’t take profits last bull run swears that will take profits next time.But it’s very easy to get caught up in the bull market’s euphoria.At the peak of every bull run, 90% of influencers say that we’re going higher. That we’re just getting started. Sell shaming becomes something common and those who take profits are called idiots.That’s why you need to create an exit strategy and make sure you’ll stick to it. It won’t be easy to sell and you’ll probably not sell the exact top.But at least you’ll make sure that you locked in some profits and you didn’t survive a harsh bear market for nothing.A good exit strategy should include 2 things:when to take profitswhen to cut lossesHere’s a great thread on how to create an exit plan:And that’s all for today.To conclude, the number one thing that I recommend you is to invest/trade based on a strategy and a set of rules that you decide based on your previous market experience.As the quote says, “A trader without a system with an edge is a gambler”.It’s very hard to build wealth, and easy to lose it.That’s why a clear strategy is needed.I hope you enjoyed reading this article.Until next time,MASTERING CRYPTO $BTC #BinanceTournament #BTC🔥🔥 #BinanceCEO