1、Better to sell early than to hold until it goes to zero.
Selling early and missing part of the gains is always better than holding until the end and experiencing a 'roller coaster'. Because the vast majority of assets will eventually return to zero, even if you sold early, looking back in a few months or years may make you feel like a genius.
2、If you screenshot and flaunt your profits, it's time to sell.
You don't need to liquidate everything at once, but you should at least reduce your holdings by 20-50%, which is usually a good time to take profits.
3、Most people on social media have little real expertise.
The loudest and most confident often know the least, while those who are quiet and often self-doubting are often the true wise ones.
4、You cannot borrow someone else's faith.
If you buy a certain coin just because someone says it's a 'hidden gem', then you are almost destined to sell in emotional collapse. Those 'guides' may have already dumped it on you, while you are anxiously waiting for them to tweet or update their YouTube video on what to do next.
5、Don't try to please others.
This is not only good investment advice but also good life advice. Wanting family and friends to recognize you is understandable, but wanting anonymous internet users to recognize you? That's just crazy.
6、Bitcoin is the only one; everything else is an altcoin.
It took me a long time to truly understand this. Yes, altcoins can sometimes outperform Bitcoin and may do so for a while, but in the long run, almost all altcoin values will revert to BTC.
7、Most people want to outperform Bitcoin by trading altcoins, but only less than 5% can truly do so.
Trading altcoins in an attempt to beat BTC is as difficult as retail investors trying to outperform the S&P 500 index. For the vast majority of people, the best strategy is to buy BTC or an index directly.
8、The crypto market will distort your perception, even putting you in a state akin to 'mental illness'.
During the last bull market, many people preferred to hold onto a few lines of code in JPG (NFT) rather than selling for $50,000, because they felt it was 'still undervalued'. Many smart people have made this foolish mistake, and you are no exception. The herd effect is very real, and swimming against the tide requires tremendous psychological resilience.
9、Communicate more with outsiders to break out of the crypto bubble.
1 SOL or 0.08 ETH may seem like 'insignificant small money' to you, but if you lose this much every day, how much will that be in a year?
In the real world, ordinary investors are already satisfied with making 10% a year, but in the crypto market, such returns are treated as garbage. The market will distort your expectations, and you must learn to escape this thinking trap.
10、The power of compound interest far exceeds your imagination.
You don't need to find a 100x coin; a more realistic strategy is to find a bunch of 2x coins, or consistently earn 10-50% annually.
Do the math and see how much amazing growth high compound interest can bring after many years.
11、The key to long-term success:
Most people overestimate what they can achieve in a year but underestimate the heights they can reach in ten years.
Don't be greedy for short-term riches; the real winners are those who can survive in the market for more than ten years.