The most common mistake new crypto enthusiasts make is being blinded by the hype of price surges. When the market is hot and concepts are flying everywhere, they often get caught in losses, making more trades and losing even more, or being pulled into various "learning groups" to pay fees—these are the painful lessons from experienced traders.

There are some key points worth pondering in this round of market movement.

First, don’t get trapped by the one-sided bull market of the last cycle. Back then, you could buy blindly and still make a profit; now, it’s different. Currently, the market is highly volatile with frequent fluctuations, and repeated shakeouts have become normal. If you still dream of soaring to the sky, you’ll only get repeatedly harvested. Relying on a single wave of market movement to turn things around? The difficulty has sharply increased.

The first lesson for beginners is not how to make money, but how not to lose it. Many people get inflated after earning a little luck-based profit, thinking they have some skills, only to be slapped in the face when they increase their investments. What they should really do is protect their principal—avoid full positions, don’t go all-in, don’t use high leverage, and don’t rush in at emotional peaks. Learning to control drawdowns is what qualifies you to talk about profits.

Another critical point: never touch coins you don’t understand. The biggest pit in the crypto world is cognitive bias. If you don’t understand the logic behind a coin’s rise and fall, who the main buyers are, or how the ecosystem operates, then your investment is essentially donation. The safest approach for beginners is to stick tightly to mainstream coins and avoid reckless speculation.

Hotspot rotations happen very quickly, and this is especially obvious now. When the entire network is buzzing about a certain sector, it’s often the time when major players are quietly withdrawing. What is a smart strategy? Hold mainstream coins as your core holdings, and only allocate small positions to altcoins, so you have room to maneuver in and out.

Finally, learn to monitor overseas trends. Domestic information is often delayed; the real rhythm happens in Europe, America, and Japan/Korea. Policy changes, institutional moves, large transfers—all these occur overseas first. When secondary information reaches us, it’s already half a beat behind. Those who can capture these signals first will be less likely to get caught in the trap.