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Why do so many people in Cryptocurrency Speculation not make money
These days, many people have added me, all of whom are deeply in debt in the crypto world. Some are even heavily indebted, with their families falling apart. Hearing about some of their situations, I couldn't help but feel a sense of sigh, which inspired me to write this article. I hope that after reading this article, you will be inspired for your future survival in the crypto world.
Without exception, those who lose a lot of money are all trying to get rich quick and turn the tide. Their strategy is usually to raise enough capital, buy small coins, and then hope that the coin will rise by a hundred times k times.
Their methodology is very complex and varied. I've seen all sorts of methods, some using technical indicators, some using news, some analyzing holdings flows, some looking at hot topics, and some using other techniques. Their methodology is full of a sense of mystery that is not easily shared. If enough people use it, there will always be a few who will strike it rich.
In summary, the reason they are losing money is that their worldview is flawed.
Because they lack a pragmatic mindset and do not respect the fundamental laws of development.
In their eyes, the law of things development is like this: making money should be fast, only in this way can they get rich overnight. Aren't those rich people who took the opportunity to rise up like this? In life, you must seize a few opportunities to get rich quickly. You need to make a lot of money immediately in a short period of time.
The development law of things in my eyes is like this: it relies on slow accumulation, accumulates to a certain amount, suddenly undergoes a qualitative change, quickly earns money, then falls back, returns to a stable period, and even a loss period.
If you don't believe it, you can observe carefully that any enterprise is like this, it accumulates for a long time, then grows slowly, occupies the market, and then its products accumulate to a certain quantity, causing a qualitative change, or it catches the trend and suddenly erupts.
Think about whether BYD is like this, and whether those small factories that make masks are like this. And some big companies, the best companies in the world, are they all like this?
Life is also like this, through continuous accumulation, and then stepping on a certain point, suddenly erupting, making a big fortune.
The illusion for those who do not think deeply is that, you see, they suddenly make money, but they forget how those who make big money accumulated and settled before they became what they are today.
I used to do e-commerce, and it takes 10-30 days to cultivate a hot-selling product, then it will explode, and then return to plain.
Even love between men and women needs to be accumulated, then explode at a point, and then return to plainness.
Life is not always a climax.
And those who attempt to get rich quick, such as trading, buying low and selling high, buying and selling, buying and buying again. Striving to profit from every Fluctuation in the market. He will have a delusion that as long as he seizes dozens of such opportunities, he will be financially free. This may be enough in just one year, or even just a few months.
But they are not good fren with the dealer, and they don't have the ability to be a market maker themselves, nor do they have enough judgment criteria. It's strange that they rush in and don't get played people for suckers. The dealer can't make money right away or have a large amount of capital immediately. It takes several cycles of accumulation to have such ability. Going back to one point, everything needs to be accumulated. Without accumulation, attempting to succeed would break the law of development. That would be playing god.
Want to get rich quickly and change your life. I just want to ask, why? Do you deserve it? So I always say that worldview comes first, and methodology comes later.
When the worldview is problematic, methodology is useless.
Don't be fooled by those who show off their profits every time they make a contract and how much they earn in their Moments. You may have never seen them post about their losses. Why don't they? Because they are too embarrassed to admit that they have failed. Isn't this a lack of respect for reality? The impression they give is that they always win, never lose. But how is that possible? In order to gain respect and admiration from others, and for that little bit of dopamine, they have convinced themselves that as long as they post it, it's considered a win. After all, there is no cost, and nobody will know. But in the end, they are deceiving themselves by deceiving others. And eventually, they become just like everyone else.
There are still a group of people in the market who do this. I simply refer to them as the 10U war gods. They simultaneously open short and long positions, and whichever one makes money, they show the corresponding yield. But they never dare to show the absolute return, only the yield. If 10U earns 100U, that's a 1000% yield, so amazing. But many people lack the ability to think deeply, so they also lack the ability to discern scammers. They may even defend scammers because, through a series of implications, the scammers have become gods in their hearts. Do you think their worldview is problematic?
You can succeed in doing it with 10U, but does this success make sense? Can it change your life? Let's make a simple analogy. You can walk easily on a road with a width of two feet on flat ground. But if it is 20 meters high above the ground, can you still walk on the two-feet-wide road so easily? Think about it carefully. If you want to walk over there at 20 meters high, don't you need training, accumulation, and overcoming various obstacles to achieve it? Some people can't do it all their lives because they have acrophobia. It doesn't matter if they can't do it. If I want to walk from this building to that building, I just take the stairs, climb down my own building, and then walk to the opposite building and climb the stairs. It just takes more time and energy. Why do you have to do something so difficult, thinking that it is a shortcut to a dead end?
The so-called shortcut must be the right way. A fair and open road, the right path must respect the law of things. For example, the method of hoarding coins, hoarding mainstream coins. Especially in the current Bear Market situation, earn more money off the market, and then hoard more mainstream coins. Wait until the next Bull Market, and make profits like 10 times, and then explore some activities on the exchange, participate more, and make yourself earn 50% more. For example, if you only have 100,000 now. Then buy in now, turn it into 1 million in the Bull Market, and then you can arbitrage, 1 million may become 150%. Even 2 million. Is this path fast? Not at all, but it conforms to the law of development of things. This is the right path and shortcut. The so-called speculation, short-term trading, are all useless. This is speculating for advantage, first of all, you have to have the ability to speculate for advantage. If you don't have that, then it's useless.
Also, don't be dissatisfied with 10x and aim for 100x or even k times. Everything comes at a cost, so you have to seize the opportunity of 100x coin. Keep in mind that you should not underestimate yourself.
However, you must meet several conditions. You need to understand some English. You must be able to read the White Paper, and don't talk to me about translation. You must understand the designs of blockchain, such as Sybil Attack, Byzantine Fault, Layer 2 network, and Lightning Network. Also, the backgrounds of the founders, as well as investment institutions and the amounts of funding in each round.
You need to know a lot before you can increase the probability of choosing a currency. So you have to ask yourself, do you have the confidence and ability to understand these things? Are you willing to put in the effort to earn a hundred times or k times? Do you want to study so much data? If you don't have this idea or you don't have this ability at all, and you just rely on what others say or your own feelings, how can you earn a hundred times or k times? Isn't this too disrespectful to the laws of development? If making money were based on feelings, then all sensitive people would be rich.
Remember a word: feeling in the financial market is the most unreliable thing. There are a lot of cognitive biases and frame thinking in human psychology. Relying on feelings can be deadly.
Is it the same as I said earlier, making money is all about accumulation, slowly accumulating abilities, accumulating capital, and quantitative changes leading to qualitative changes. Then find the opportunity to burst, and then return to the ordinary period.
The bull and bear cycles of the crypto world conform to the law of development. Bear Market is continuous investment, which is sowing the seeds, and then Bull Market may only account for 5% of the time. It comes suddenly, briefly and rapidly, and then you start to harvest. Many people see you as suddenly getting rich. In fact, you have obtained this profit through several years of sowing. But how could they understand what you have put in? When you succeed, they will only say you have a good eye and good luck.
Is it incredible? So for those who are still losing money, wake up and come back to the real world. Make money off the exchange, then buy and hoard, this is the only way for you to make money in the Bull Market.
There is no god in this world, but many people believe in the existence of gods in their worldviews, hoping to find a god to help themselves. This is a manifestation of disrespect for facts and for the laws of development of things. How can it be successful?