Why did you lose your fortune in the bull market?

Source: Hu Feitong

Everyone has a feeling that the market is not rising now. BTC has been fluctuating between 60,000 and 70,000 dollars for three consecutive months. AltCoin had some impulse in the early stage, but now it has no stamina and is rushing to explore. Newly listed currencies can't hold on either, and they peak as soon as they are launched. The whole market is just a pot of lukewarm water, neither hot nor cold.

Maybe for many people, the word "lukewarm" is a little too peaceful. Because recently, many people have been cursing. There are many people who curse those who shorted and were reversed; cursing Binance for listing too many coins and causing the market to lose liquidity has become a trend; there are also many people who curse KOLs for causing heavy losses.

For these people, this market feels that the bull market has ended and the bear market has been long, so how can it still be lukewarm. People who have this idea are all here to make money in this market. It's a bull market, money is everywhere, and every project should be able to rise and make money. This is the only gamble in life. After making this profit, you will be financially free. You came to this market to make money. You were full of confidence, took out most of your assets, even leveraged, and took on debts, and rushed in.

Thank you for your courage. The sickle of this market has been ready for a long time. Various routines have been staged one after another, and new concepts have emerged in an endless stream, with the goal of us leeks. Don't you want a new narrative? This is easy to do. Bitcoin's second layer, AI, DePin, ReStaking, or simply Meme, under the banner of fair launch, anti-VC banner, have all appeared on the stage.

The most critical thing is KOL, market promotion, community orders, and exchange listings. What technology, what innovation, what business model, what user scenario, these are not important, playing three, six, nine, everyone knows clearly in their hearts that they are all here to make money, and the competition is to run fast. I believe that the project party will definitely pull the market, I believe that there will be early dividends, and I believe that the bull market will not lose money. So you set up a cat-stroking studio, listen to KOLs, enter various communities, and look for all kinds of local dogs. You want to make not 3 times or 5 times, but 100 times overnight.

But why didn't you make money?

Here is a question: Is it possible for everyone to make money? Well, it should be possible, that is, the entire market will rise sharply, and everyone will make money on the books and be happy, although most of them cannot be withdrawn. However, the entire market did not rise. If you want to make money, someone must lose money. This logic is simple, right?

Then why do you make money while others lose? Does the project party want to make money? Does the exchange want to make money? Does the KOL want to make money? Does the VC want to make money? Everyone wants to make money, and who will make money? Of course, we leeks. Speaking of which, most of them are professional teams, and they know the market better and have more routines.

So is there any chance?  

If you ask me, Web3 is a development trend, blockchain is a technological revolution, and its application scope is getting wider and wider. Digital currency is gradually being accepted by the mainstream market, and the approval of BTC and ETH spot ETFs is a clear proof. There is nothing wrong with this direction. It is an emerging market full of opportunities, but wherever there are a lot of opportunities, there are a lot of speculations, and it is easy to step on mines. If you want to follow the market and get the dividends of development, you still need to open your eyes and keep a calm mind.

Personally, I think there may be some common sense that needs to be said, although it may not be useful:

1. The market is not going down: Bitcoin has just been halved for two months, and the price is relatively stable. The spot ETF has been approved, and the market enthusiasm and expectations are still very high. From the past, the market one and a half years after the halving is worth looking forward to. But it is unrealistic and impossible to expect the market to only go up and not down;
   

2. There is no free lunch in the world: You are here to invest, not to pick up money. There is no such a large amount of money in this world for you to pick up. Most of the wallets you see may have a trap behind them. It is necessary to do some research on your own. Airdrops have been very popular in the past two years. Why are there airdrops? Because you can bring user value and community value. If this value no longer exists, it is normal for the airdrop rules to change. The anti-witch level of recent project airdrops is getting higher and higher, and it is also forced;

3. Don't think about getting rich overnight: Getting rich overnight is a gambler's mentality, and in the end you often lose everything. It is more important to invest steadily and see the general trend.
   

4. The value of the project is still the first: If you look at the history, all the projects that can survive and go through the bull and bear markets must have brought their value to the industry, especially technological innovation or business model innovation; most of the projects that rely on concepts cannot last long;

5. Decentralization and security foundation:This is worth emphasizing repeatedly. Web3 is a decentralized network. Without decentralization, it is a pseudo-Web3. Without decentralization, there can be no Trustless and no security foundation. Of course, although Rollup and DAPP do not have chains, they are based on the security of Layer 1 to ensure Trustless. Then the security of Layer 1 is intuitively important. This is why BTC has the highest value. Its decentralization and total investment in network construction are unmatched;

6. Open source code: If a decentralized project is not open source, it is basically a joke. Projects that are not open source are not worthy of becoming Web3. You are just an Internet company, and you are not willing to be regulated at the same time, so what can be trusted? On the other hand, if a project dares to open source, it must have strong strength, great technical innovation and technical threshold, and a trustworthy team. The pattern must be high, so high that it is difficult for others to copy. Such projects are much more reliable.

7. Feasibility of the project: This is specifically mentioned because too many Web3 projects are just talking about stories and visions, and some projects don’t even have a technical team. Projects that are not technically feasible are often closed source projects, because once they are open source, they may be caught in technical loopholes, or they may not be able to be Trustless, and the value of the project will be seen through.

The above is purely personal opinion, and you should not take it personally. For reference only.
This article is completely a casual essay and does not make any investment advice. You can take a look and laugh it off.