Last week I saw a video of Hu Xijin's remarks about being a leek. He said "If you don't sell, you won't be chopped off." Two bigwigs next to him said he was too naive, which led to widespread dissemination among netizens, who all said that Hu was a "textbook leek."
Looking back at Lao Hu's stock trading journey, from entering the market with a small amount of capital to testing the waters, making money, expanding, adding positions, losing money, covering positions... to being stuck with a heavy position. Now, in a word, as long as I don't sell, I won't be cut off.
Come to think of it, I am following a similar path in the crypto market!
I once used the words "If you don't sell, you won't be harvested" to make fun of myself. Now it sounds like it's really true?
Whether it is the stock or crypto market, you are destined to lose money when you enter the market. If the price drops by half without stop loss selling, it will most likely return to zero.
Chuxiao Chain entered the cryptocurrency circle in 2021, when the prices of dogecoin and shib skyrocketed, making the crypto market popular. Even white-collar workers on the subway and aunties on the square began to discuss dogecoin.
Various animal coins and copycat coins emerge in an endless stream, and all the advertising slogans are: If you missed Dogecoin and Shitcoin, don’t miss XX coin again, XX will be the next SHIB.
At that time, I was a novice in the cryptocurrency circle. I followed the trend when I saw the fomo sentiment in the group. When I saw the news, I had already made 10,000 times the profit of others, and I fantasized that the next coin that would increase by 100 times would be in my hands.
In fact, when the fomo sentiment reached the WeChat group, the market was already at the end of its takeover. The price started to plummet after the purchase, from a purchase of 100 US dollars to 50 and then to zero in 2 days.
Now there are millions or even hundreds of millions of altcoins on the heco chain in your wallet that have returned to zero and are worthless.
If you don't sell, you won't be cut off. The problem is that the target in your hand will be reduced to zero; after buying, the outcome of being cut off is inevitable.
The crypto market has gained momentum today, with the price of BTC rising to $30,985.
But if you entered the market at a high in 2021, you would still have lost 55% now. The harvest from selling tokens is over, but you still have some thoughts if you don’t sell.
But most cryptocurrencies are hard to rise after falling; all kinds of blue-chip NFTs have been cut in half from their highs. Selling may be a stop loss, and not selling may mean waiting for it to return to zero.
It is not necessarily true that if you don't sell you won't be ripped off. It depends on what you have, and it is difficult to determine whether it is a value investment.
After talking about spot goods, it is hard to describe the players who interact with airdrops.
I saw an interaction progress chart compiled by a player. From meticulous day and night interactions at the beginning to selective interactions later on, it is possible to get an airdrop in the end, or it is possible to get nothing.
As the bear market deepens, there is too much uncertainty and no one knows which project may bring a surprise. As more is invested, the cost increases, and the cost of giving up also becomes higher and higher because people do not want to lose the money and energy they have invested.
Now we do interaction just for the sake of interaction. We don’t want to give up the gas and time we invested before, which is very painful.
Let’s get back to the question of whether you will be ripped off if you don’t sell.
Many people talk about value investing, but the overall environment and market have continued to decline in the past two years. We don’t know which market is the real opportunity, and value investing will return to zero.
From the perspective of the A-share market, the share prices of those value companies have been cut in half again and again, and some have even been delisted; the crypto market has been falling for two consecutive years. From the high point in 2021 to now, it has fallen again and again with no signs of recovery.
Judging from this shorter cycle, it is undoubtedly a case of being ripped off; but if one had invested 5 years ago until now, the return would have been at least 2 times.
Whether it is a case of cutting leeks or not depends on a certain period of time. The key point is whether you are willing to invest so much and whether you can wait for so long?
The market is long and the risks remain. Be prepared to go back to zero at any time and accept the fate of being cut off. Success is accidental.
The above is just my personal opinion, not investment advice. I am Chu Xiaolian, and I am paying attention to the crypto market and web3.
