#Gate广场新手村第七期

Little God of Wealth is calling for submissions across the network! For those of you in the crypto world who can't stand loneliness, let's manage our hands and trade rationally together.
Recently, the performance of Bitcoin and Ethereum has been poor. While funds are flowing out of mainstream currencies, they are flocking to altcoins. Various altcoins are taking turns in the spotlight, making the market lively. I also participated in the hype, and after battling with well-known projects like jellyjelly, TA, ZEC, AIA, EEVA, and TRUST, I managed to catch the main upward wave. However, overall I did not profit, which made me seriously reflect on what went wrong in my operations. The first thing that came to mind was that I "couldn't control my hands." When there is no market, my mindset becomes problematic; I can't "wait a moment." When I have no positions, I feel anxious and restless, so I force myself to open positions. The money I earned in a trending market was lost in a sideways market. Just now, when I looked at my daily order records with over 30 pages of long positions, sweat seeped down my back. I decided that I must learn to "wait" and not open positions casually. Please supervise me across the entire network!

The price of Bitcoin is like a roller coaster; during a bull market, everyone buys frantically, and during a bear market, they panic sell. In 2021, the Federal Reserve implemented quantitative easing, and Bitcoin soared to sky-high prices; in 2022, with the Fed raising interest rates, it fell back to the bottom. This volatility has caused many people to chase highs and cut losses, resulting in devastating losses.
Bitcoin has a magical characteristic – the longer you hold it, the more valuable it becomes. In 2013, it was only $100, and by 2023, it has risen to $48,000, a 480-fold increase in ten years! Even more impressive is that its "production" is halved every four years (for example, this will happen in 2024), and historically, every time it halves, the price has skyrocketed afterwards. Why can patience lead to profit? In the short term, Bitcoin's volatility is like a casino; but in the long term, it's like planting a tree, which takes time to grow. Those who bought at the peak in 2021 and sold in 2022 suffered losses of over 70%; but if they held on until 2023, the losses would decrease, and they might even turn a profit. Patience is about letting time work for you.

What do you think about the mindset when trading cryptocurrencies? Do you also feel like me, always "can't wait" and have a habit of opening random positions? If you share the same "inner demon" as I do, feel free to leave a message to join the group. Let's supervise each other and tell the market makers, "I can wait!"