In 2021, MEXC exchange listed a flood of memecoins, dozens per day. Some made 10x in a day, others went to zero. The platform was dubbed a 'casino' by traders.
Do not chase the holy grail of trading. No universal formula works for crypto. Market conditions, liquidity and sentiment evolve constantly; rigid methods will eventually become obsolete.
Back in the early 1980s, I accompanied one of my company's clients, a wealthy Mexican-chinese overseas businessman (chairman of the China-mexico Chamber of Commerce), shopping at Beijing Friendship Store. The doorman blocked us at the gate because we both had Chinese faces. We were only admitted after my client produced his US passport (he had naturalized as an American citizen) and I showed an official letter of introduction from a ministry foreign-affairs bureau.
Crypto projects face two possible endings: evolve into indispensable industry infrastructure or trend toward zero. Most vanish as narratives fade across market cycles.
Do you buy when the price goes up, and then it goes down when you buy, and then you panic when it goes down, and then you sell when you panic, and then it goes up when you sell, and then you buy again when it goes up, and then it goes down again when you buy... What you are experiencing now is the inevitable path for every old investor in the cryptocurrency circle;
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The greatest wealth that Bitcoin BTC brings us is the calm and composed mentality that we cultivate during the waiting process.
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Projects used photoshopped investment-partnership-posters to fake strength. Retail investors bought blindly. The team cashed out and disappeared.
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During the 2020 epidemic, the price of the coin soared to 300,000 yuan per coin. How could you have dared to buy it now? . So everything should come and go. Including now, when it reaches 700,000 yuan, do you dare to buy it? . There must be people who are still buying, and there are also people who are abandoning everything.
It's best not to touch altcoins. The project owners will just shit a bunch of shit and wait for you to happily eat it, and then run away. The typical EOS project owner with corrupt morals, the dog-day MB, created the pile of shit projects bts steem eos, which are all piles of shit he shit. At first, he lied to people that the shit smelled really good.
Numerous AI-plus-blockchain projects today are repackaged narrative plays. The two technologies lack deep integration; teams exploit hot themes to boost token prices for exits.
He transferred assets on Ethereum to a BSC-chain address. Different blockchains are incompatible. Assets were lost permanently, with no way to recover.
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Bitcoin's genesis block contains the headline: 'The Times 03/Jan/2009 Chancellor on brink of second bailout for banks,' signaling Satoshi Nakamoto's discontent with traditional finance.
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Public squares are full of people selling dreams, trading signals, and paid courses. Many critics say that most of them are simply earning commissions from followers.
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A user spent big to participate in an IDO, securing an allocation. The token launched and instantly dropped 90% below offering price. The project tweeted, 'Don't panic, we're building.' A year later, the price was zero and the Twitter account had stopped updating.
Earning profits is merely the first step; preserving wealth proves far harder. Many traders generate large bull-market gains only to give everything back through bear-market drawdowns.
Let me talk about myself and my classmate first. He was born in 1990 and entered the cryptocurrency circle in 2013. He really started to have fun in 2016. In 2017, he caught up with the bull market and made his first 10 million with a capital of 10,000 yuan at the beginning. After that, he became arrogant. After losing all the money he made overnight, he also lost all the savings of more than 3 million yuan of his parents' hard-earned money. He also borrowed 5 million yuan from relatives and friends to speculate, and paid all his tuition fees in the market. In total, he lost more than 8 million yuan, and the remaining coins were used to make thousands of times the money in the bull market.
Binance founder CZ said, 'Don't invest money you can't afford to lose.' Yet during market swings, he tweets, 'I'm still buying.'
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