Cognition determines everything! 【Extremely crucial】
The cryptocurrency market is a place where the poor become poorer and the rich become richer. Stories of sudden wealth are not as rampant, and nouveau riche are not as common as imagined.
Rich people hold 100 million in funds, only trade spot, and leave the market after making 20%, easily pocketing 20 million. They will not budge if their expectations are not met. Poor people have only 100,000 as capital; even with a 20% return in spot trading, they only make 20,000, which is not enough for daily expenses.
There’s no choice but to play with leverage, treating 100,000 as 1 million to gamble. It seems possible to gain 200,000, but the reality is harsh, and most end up with liquidation. Some poor individuals listen to various legends of small investments yielding large returns and follow the trend with “shitcoin” projects; 99.9999% of the time, they lose all their money. Even the tiny fraction that survives cannot tell if it’s genuine players profiting or the project operators manipulating behind the scenes.
In summary, mainstream spot trading is the true path to profit. Before making a profit, hold on tightly; eventually, money can be earned. Then, rely on compound interest to snowball; there’s no need for a large initial investment, as compound interest has immense power. Trading habits and mindset are the core; controlling desires and emotions is far more important than how much money is made.