Scammers impersonated official customer-service staff, inventing security risks to trick users into revealing mnemonic phrases. Once leaked, wallet assets were stolen instantly.
Prices kept falling, and he kept buying the dip, believing each drop was the bottom. Each purchase deepened his losses until all principal was exhausted.
He quit his stable job after short-term crypto-profits. He indulged in entertainment and spending without saving. When the bear-market hit, he became heavily indebted.
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No matter how good another person's strategy is, it is poison if it does not fit you.
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When a person lacks favorable fortune, aimless struggles make them extremely foolish compared to those riding favorable market tides blessed with luck.
Cryptocurrency trading is a process of cultivating one's mind, self-cultivation, and character. Study carefully, fully understand the big cycle and big probability theory, plant the seeds, and water them with the sun, air, wind and rain... wait for the flowers to bloom and reap a lot!
Never buy residential property. A reasonable price for housing in Beijing would be one hundred square meters for one million yuan, and even that is on the high side. Why are mortgage terms capped at thirty years? Because residential buildings deteriorate severely after thirty years. You would be trapped repaying millions in debt long after your home loses value. Purchasing such property means you are either brainwashed or irrational.
The same is true for cryptocurrency trading. People in the cryptocurrency circle are just waiting for a big bull market. In a normal bear market, you can't make any money at all. People in the cryptocurrency circle make a little bit of money through arbitrage through some activities, and then the coins become more, but compared with the legal currency, it is actually less. But as long as you survive the bear market, in the big bull market, basically these people's wealth will increase by 10 times.
Stay away from skyrocketing coins: Regardless of whether it is a mainstream coin or a copycat coin, coins that skyrocket in the short term are basically scams. After a skyrocketing, there is often a sharp drop. Don't get rich overnight, just get rich slowly.
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When playing with Altcoin, you must keep a light position. A heavy position will ruin your mentality, which will ruin your operations, and messy operations will lead to losses.
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In GameFi, winners are not regular players-they are early miners and project teams.
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A big player in the cryptocurrency circle made 70 million yuan with 200,000 yuan in less than a year at the end of 2016. After the bear market in 2018, his assets shrank to 4 million yuan. He regretted it for a year - he should have played in the bull market, only in the bull market can there be ten-fold or hundred-fold coins, and the cryptocurrency circle is a market where everything rises and falls together.
Always remind yourself that the investment risk in the cryptocurrency circle is huge, and you should be awed. Don't be dazzled by the myth of getting rich quickly, and invest rationally to survive in this market for a long time;
Xiaozhang set up a grid trading bot, thinking it was safe money. For a month, it made 5% in a choppy market. Then a sudden one-sided drop broke through the grid, the bot got fully trapped, and he lost 20%.
It is a general trend for digital assets to replace industrial assets with serious overcapacity. Keep pace with the times and firmly believe that decentralized Bitcoin BTC will become the digital gold of the new era.
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