I was inspired! To you who are struggling while crawling!
The bear market is an opportunity for ordinary people to turn over and cross the class! As long as you stick to the right path, time will give you rich rewards. If you don’t stick to it, you won’t be rich!
How can a novice investor avoid pitfalls in the cryptocurrency circle? As an old investor, how did I climb out of the shit pit? I will share some practical pit avoidance guides with my friends so that they can avoid detours as much as possible.
As the saying goes, Buddha saves those who are destined to be saved! Today you can see the blogger's sharing, and have a personal experience that shows that we are destined to be saved. You are welcome to forward it to your friends and family who need reminders; it may save many people from financial losses.
Nowadays, in the era of rampant information, ordinary people have many blind spots and misunderstandings in screening and distinguishing information, which may lead to strategic mistakes if they are not careful. Especially on the eve of a bull market turning point, the losses from such mistakes are huge.
It can be said that a small decision of yours may lead to a loss of tens or even millions of dollars, which is a fortune that ordinary family friends may not be able to earn in their lifetime. Therefore, for many friends who come to this circle to seek gold, the cost of making mistakes is very high. According to statistics, most friends have only one entry ticket, and if they fail once, they may completely leave this market. Since the ticket is so expensive, ordinary investors need to do the following things correctly to avoid more than 80% of the pitfalls!
The blogger summarizes the following experiences for your reference, please like and collect them.
1: Whether you are playing spot or Heyue, except Binance, do not participate in any small exchanges on the market. Maybe you are greedy for cheapness, while others are greedy for your principal. Those who understand will understand, so I will not make a detailed strategy. This can help you avoid 100% of the pig-killing scams!
2: Diversify your investments. The cryptocurrency world is full of all kinds of false information, such as market manipulation, insider trading, and fictitious projects. Don’t trust anyone’s recommendation of a coin. Even if it’s a recommendation from a friend you trust very much, you still need to conduct your own detailed research, evaluate the team background, project white papers, check the sustainability of the project, etc.; never go all in on the tokens of a single project.
3: Stay away from MLM coins. MLM projects use knowledge asymmetry, false propaganda, and packaged false information to mislead investors to join and complete the harvest. The only ones who can make money are the small group at the top of the pyramid. The vast majority of users are there to fill the pit. The core secret is a small circle of Ponzi schemes. When they develop to a certain scale, they will run away, or do network maintenance. Those who understand will understand!
4: Try to buy as few coins as possible that have already increased hundreds of times in the last bull market. Except for Ethereum and Slug, there are very few projects in this circle that can continue to tell stories, and most projects cannot survive more than one bull and bear market. The founding team "goes ashore" and just thinks about how to divide the money. Few people want to change the world. Just imagine; if you can make hundreds of millions by issuing a virtual coin, who would insist on iterating and upgrading the project? At present, there are very few who can persist. At least they have transcended the slavery of money and it is completely a belief. Ethereum is one of them.
5: Only concepts; be cautious when investing in projects without any ecological scenarios, especially those with grand publicity and many big V platforms, with valuations of tens of billions from the start. Be especially careful about projects that change the world, as they may be out to reap your profits. Remember not to listen to what they say, but look at who is developing in the ecosystem! More reliable
6: Don’t be greedy for small bargains. Value is determined by market consensus. Don’t blindly believe in cheapness. Usually there is a trap behind cheapness, especially meme coins. The probability of getting out of it is too small. Without rich investment experience, how can you, a novice investor, get rich quickly instead of falling into a trap?
7: Don't try to be smarter than the market. Stick to the right direction and invest in spot for a long time. Don't try to buy at the lowest point with just one move, because there are too many investors in the market who have information advantages over you. Many people missed the bull market because they lost at a discount. Old investors can use one-tenth of their funds to gamble with Heyue, and use the profits to stock up on spot. New users are not recommended to play. After all, you don't have a trading system, and you don't have the awareness of position management. Basically, you are the leeks who are harvested.
8: If you are an old investor, it would be a shame for you if you miss this opportunity. If you are in your 30s or 40s and still a poor loser, you should be brave enough to make a layout and buy at the bottom during the global economic depression and bear market, and make regular investments to buy more high-quality assets.
Don’t always think about waiting for the cost to be a little lower before entering the market. The cost of missing out is very high. On the contrary, with the current economic situation, the cost of making a mistake is very low, because the downward space is limited and the upward space is unlimited. The cost-effectiveness of your entry now is very high. You can buy a lot of high-quality and low-priced things. This is a once-in-a-lifetime opportunity.
The above part is the blogger's summary of the pit avoidance guide. If you think it is helpful to you, please move your little finger to like and forward it to the blogger. Thank you
The above sharing only represents personal opinions and does not constitute investment advice.
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