“Who can teach me what to do to buy dog coins?”
Zhang Yue asked for help in the WeChat group. In the past period of time, the price of dog coin has risen in a straight line, hitting a record of more than 400% in seven days, and the amazing gain made Zhang Yue, who was once “hurt” by the fund and said he would honestly save for a fixed term, waver once again. Now, although he knows nothing about the cryptocurrency world, Zhang Yue is still attracted by the attractive wealth figures and wants to join this wave of wealth creation.
“I’ll buy a 1,000 yuan, it’s not painful to lose, in case I’m lucky to earn a few tens of thousands.”
There are many people who have similar thoughts to Zhang Yue.
Recently, as the price of cryptocurrencies represented by Bitcoin has reached record highs, the market’s enthusiasm for coin speculation continues to rise, and this sentiment is directly reflected in the numbers.
According to a pre-IPO filing with the SEC by cryptocurrency trading platform Coinbase, Coinbase’s total number of certified users for 2019 and 2020 is 32 million and 43 million, respectively. And in the first quarter of 2021, Coinbase’s certified users increased by 13 million, already surpassing last year’s full-year growth in three months.
Among them, there are white people who can’t resist entering the cryptocurrency circle because people around them are financially free; there are also aggressive post-90s who are being “taught” by the market; and there are also “veteran leeks” who have experienced several cycles and have a new layer of understanding of the cryptocurrency circle.
Perhaps the era of universal coin speculation is not far from us after the universal base speculation.
“100,000 Yuan, I ambushed a dream in the cryptocurrency circle”
Chen Chong, Internet Entrepreneur
On April 9, Chen Chong downloaded the Firecoin App on his mobile phone and filled it with 100,000 RMB, announcing his official entry into the coin circle.
This is not the first time he bought coins. “I bought it in early 2014, when many people around me were buying coins, and when dogcoin just came out, it was free, so I followed the trend and bought a lot. But because I didn’t know what it was, I didn’t know what it was, and I thought it was a scam when (the price) slipped a little bit, so I quit not long after.”
Last year, the cryptocurrency market saw a strong bull market. A number of cryptocurrencies represented by Bitcoin, Ripple and Dogcoin showed explosive growth in the short term, with the price of Bitcoin once exceeding $6.4w per coin, up more than 780% from the end of 2019, and up more than 100% from the end of 2020. Dogcoin, which Musk has “handpicked” to take into space, is riding high, up 405 times in a year.
The fact that the prices keep setting new highs means that people who bought these coins at low prices have now made a lot of money.
Chen Chong told Investing.com, “The past few years the bitcoin market has been bad and everyone has been very low key. But since last year, I’ve found that people who played and held on to the coins have made 20 to 30 times more money, and some are already financially free, while those of us who are working hard on the company are still miserable.”
This time, Chen Chong decided to hold a learning mindset and start from scratch. Chen Chong’s plan is to divide the 100,000 yuan into several parts, part out of mining, part to buy bnb (coin an coin) such a reliable to do long-term, the last part of the bull market to buy some cheap new coins, ambush later to engage in a “dream”, and then get money to buy mainstream coins to do long-termism.
“This time, I think we will also pay tuition, but as long as we do not engage in leverage to engage in contract gambling mode should not be a big problem.” However, Chen Chong still confessed to the investment network, “In fact, there is still a big information gap in playing coins, the circle is important, but overall, long-term brainless hold on the line, certainly better than fund stocks.”
Fortunately, on the second day of entering the coin circle, Chen Chong bought a coin that made a big profit of 27%.
“The first time I blew my position, I smoked 3 cigarettes to calm down.”
Guo Yang, an e-commerce practitioner
What makes the cryptocurrency circle attractive is that it is volatile enough. A friend who speculates on coins jokingly said, “In the cryptocurrency circle, it is embarrassing to say that the rate of increase is not doubled.” But what he didn’t say is that in the cryptocurrency world, the drop may also make you doubt your life in a minute.
On April 18, bitcoin, which continues to set new historical levels, suddenly showed a downward trend, falling all the way below $52,000 from an opening of more than $60,000. According to bitcoin home data, more than 470,000 people blew their positions in 24 hours that day, with the amount of $6.164 billion, and the largest single blowout worth $46.94 million.
Guo Yang told Investing.com, “In fact, in the cryptocurrency world, this kind of thing happens a lot and has long been a common occurrence.”
Guo Yang is a standard post-90s man who likes adventure and excitement and has been buying contracts since he entered the cryptocurrency world in 2019. The contract is more exciting than the spot trade, open 75 times, up 1%, it is equivalent to a 75% increase, every day often several times the rate of increase, always stimulating your adrenaline. Guo Yang also researched a set of “stable and steady” play: “I open 75 times, with 1/10 of the position, this position, down 20% will not explode.”
However, this method of play obviously does not apply to the present.
January 11, 2021, Guo Yang ushered in his “coin life” of the first burst.
“The day it kept falling, I was watching and waiting to close my position manually. The result is that the pin (refers to the instantaneous surge or plunge of the price of the coin, in the shape of a pin in the price trend) than my hand speed, did not close on, watching 30,000 yuan to zero.” Guo Yang said, “I smoked 3 cigarettes to calm down.”
In order to get his capital back quickly, Guo Yang chose a more aggressive play, using the remaining 2,000 yuan in his account to open 100 times the contract and go long on bitcoin. “If you’re lucky, you’ll make your deficit back in less than a week.” Sure enough, in the time it took to talk, his $2,000 turned into $4,000.
In the past three months, Guo Yang experienced three more large and small blowouts, and his losses went from 30,000 to 60,000. Compared to the shock of the first time, he was later much calmer.
On April 16, the dog coin straight pull up to touch a maximum of $0.47 per piece, up more than 200% in 24 hours, Guo Yang seized this opportunity, with 400 yuan earned 5000, from his capital back and 55,000.
Playing with a heartbeat is a true reflection of the words for cryptocurrency players like Guo Yang.
“Use the money that can go to zero to be a friend of time.”
Shen Peng Medical practitioner
When asked if he would regret missing an opportunity to be wealthy and free, Chen Chong said, “There is nothing to regret, the key is still the mindset. Before because do not understand, so down a little mentality will collapse, really hold to make money.”
And Chen Chong’s concept coincides with the Shen Peng.
Compared to Chen Chong and Guo Yang, Shen Peng boasts that he is an “old leek” in the circle, and is the more sensible kind.
“The company’s main focus is on the development of a new product that will be available to the public. Shen Peng recalled to the investment network, “At that time, speculation in coins was still the game of a few people. It was all about the big names in the cryptocurrency world pulling heads, and there was a market when someone entered, and when it went up, the assets of the old players doubled, and then different leeks entered under the scythe of different big names. This is also the reason why people said that speculation in coins is like a pyramid scheme.”
Shen Peng just entered when bought bitcoin, ethereum and a few cottage coins respectively, and later those cottage coins were zeroed out. “Cottage coins are, to put it bluntly, the old leek taking air for the new leek’s fiat currency.”
From 2017 to date, bitcoin has experienced two big ups and downs, one occurred in 2017 to early 2018, six months, the price of bitcoin once rose from a few thousand dollars to $20,000, and then fell to $5,000, the second is now experiencing this wave of bull market.
From the initial big curry cutting leeks, to the later two big ups and downs, witnessed around many people or overnight riches, or gloomy exit. Shen Peng lamented, “speculation of coins, more like a test of human nature, a surge when blindly follow the wind to add positions, a plunge on the sinking cut and run, or open a contract bet, the end result will become the leeks under the sickle.”
When asked how he can keep his mind always smooth in the ups and downs, Shen Peng said that, in a way, speculating on coins is more like a social experiment activity for him.
“There are not many ways to play the financial game, and there are always people who try every single one of them, absorbing many other elements of social progress in the process of figuring it out. Digital coins are digital assets. In the digital world, digital assets are a necessity, just how it works is still being explored, so I say it’s a social experiment. Since it’s an experiment, it’s all about participation, and if you get something, it’s purely accidental and just luck.”
Shen Peng suggested: “If there is free money, take out to participate in the experiment is very good, ‘with the money that can go to zero, do time friends.’ No participation in the spectator to see also OK, but then do not take the old capital fantasy of getting rich.”
Write at the end
In the process of chatting with several interviewees, they all coincidentally mentioned a point: “The mindset determines everything and be a friend of time.”
We can’t judge the investment value of a coin, a company or a fund through short-term stock price fluctuations. The stock price is only able to tell you what price you can buy the desired underlying and whether there is a possibility to absorb quality chips at a lower price, other than that, there is no meaning.
As Zhang Lei mentioned in “Value”: When you already know very well what your beliefs are, all other things are distracting items. Beliefs are sometimes more important than situations.
All names in the article are pseudonyms at the request of the interviewees.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/me-the-speculator-of-coins-also-want-to-be-a-friend-of-time/
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