On January 15th, Encrypted Notebook launched the "Currency Circle History Collecting Activity". Since the activity started, we have received contributions from many fans. After selection, an IT elite whose ID is Henry became the protagonist of our first issue of the story of the currency circle. Let’s take a look at how he gradually entered the currency circle from a technical practitioner.
The following is Henry's self-report, and the encrypted notebook has been sorted out without changing the original meaning.
Henry in this article entered the currency circle in 2017. As a technical background, he first entered the encryption field out of research on the value capture of Bitcoin. After an in-depth understanding of mainstream currencies such as Bitcoin and Ethereum, Henry found that he seems to be The possible path to financial freedom has been found. Henry entered the industry because of the money-making effect of the currency circle in 2017. He has witnessed the ups and downs of thousands or tens of thousands of points. He has played contracts and added leverage. He has been in the currency circle for many years and has formed his own unique insights into the encryption field. In the recent bull market, I believe that many people have made money through Bitcoin, and Henry is no exception. In this bull market, he has earned at least 5 times the income, but the difference is that this time Henry invested in currencies other than mainstream currencies. Emerging projects.
Henry said: "2021 is a period of accelerated development of cryptocurrencies. Many potential emerging projects will explode this year. Those who have missed the previous leading projects in the currency circle or chain circles can take a look at those who have brought more opportunities this year. Projects with new technologies and business models, maybe you will have the opportunity to seize the next hundred times coins and thousand times coins.”
Future Expectations: The Encryption Industry Will Enter a Development Period of Emerging Projects Blooming
Henry has a firm belief in the rise of emerging projects other than mainstream currencies. In Henry's view, mainstream currencies are projects that have survived at least one round of market washing. The market value is relatively stable and will not easily return to zero. The mainstream currency is better than stability, but it is precisely because of stability that the time for their barbaric growth has passed, and even reached the bottleneck period. In addition, as far as the current market is concerned, the continuous halving of Bitcoin and the skyrocketing price of Bitcoin have already thrown off 95% of retail investors, and the excessively high gas fees of Ethereum have also shut out most users. It is increasingly impossible for ordinary players to participate. It was also at this time that Henry saw that the speed of new technologies, market participation, and trend changes in the encryption industry far exceeded other industries, which also hinted at the possibility and potential of the industry's development.
The emergence of many projects with new business models and new visions made Henry believe that many new breakthroughs in the encryption industry in 2021 will appear in emerging projects outside the mainstream currency, just like the rise of DeFi in 2020, the emergence of new projects The rise will be an inevitable trend in the development of the encryption industry.
Experience Summary: A good project needs to be inspected by integrating the team, community, and action
Unlike short-term trading players, Henry is more inclined to ambush in the long-term, earning multiple profits through long-term holding or fixed investment. Compared with mainstream currencies, emerging projects are more suitable for long-term ambush strategies, and the key to successful investment lies in how to find a good project that is still in the incubation period among many projects.
Henry said frankly that the new project is indeed unable to compete with the mainstream currency in terms of stability, because the technology and community support behind it cannot be compared with the leader that has been developing for many years in the short term. The explosion of Ethereum is largely due to the fact that every step of it is completed according to the white paper or even beyond expectations. Conversely, to examine the quality of a new project can also be carried out from its three aspects: its team, community, and action. This is the simplest and most effective method, because this is a growth rule that no project can escape. The background of the founders and investors, whether the project has passed the review of a professional audit company, community dynamics, project progress, the project's own business model and the underlying value support of the currency are the factors that Henry most often inspects.
The project inspection period is also the preparation period for Henry to embark on a long-term ambush. Henry said that several times the profit often occurs when the project is "no one is interested" or in the sideways period, because buying when the currency has not yet risen or the initial rise is more expensive than chasing The rate of return on the rise must be much higher, and it is difficult for such coins that have been sideways for a long time to fall further if they do not encounter special circumstances, and even if they make mistakes in an ambush, they will not suffer too much loss. The only thing to do during this period is to be firm in your choice, because no matter how many twists and turns a good project has gone through, its path must lead to a bright path.
And how to find the way to the light, the above three elements may be helpful to you.
Novice Advice: Your Wealth Depends on Your Cognition and Your Emotions
Regarding the operation suggestion for New Leek, what Henry has repeatedly emphasized is to grasp one's own emotions and open one's own information channels.
Henry believes that there is no distinction between new leeks and old leeks in the currency circle. In the game field, it is not that new leeks will not make money, but old leeks will definitely make money. The first thing to overcome on the first day of entering the currency circle is " The human weakness of chasing ups and downs, a person's good mentality and emotions are talents, and they are worth giving full play to. The best way to overcome emotional dominance is to expand your information channels as much as possible and improve your cognitive ability. When you have more rational judgment standards, the role of emotional dominance will be reduced.
In addition, it is also necessary to combine your financial situation and psychological expectations. Only when traders maintain a high degree of self-control and execution in transactions, plan your transactions, and trade your plans, will they achieve stable profits if they persist for a long time. It is only a matter of time before a person who does not know how to self-discovery and self-examination is eliminated, but this market will never eliminate people with learning ability. The market is like a battlefield, and the "leftover" is king. Trading is a reflection of human nature. Stay away from Those environments and people that cause you to lose money, solid analysis and prudent trading plan are boring, but they are the foundation of your profit.
