How to Win Long-Term in the Crypto Assets Market?

The brutality of the Crypto Assets market is well known. To succeed in this field, long-term participation is crucial. Most of those who have succeeded in the Crypto Assets field started from scratch and continuously contributed to the industry. The following points can help you survive in this market for the long term:

1. Protect Capital

After the market plummeted by 75% in January 2018, many large holders learned their lesson and took profits during the bull market in 2020-2021. They understand that value preservation and capital protection are key to long-term survival.

Remember not to disclose your mnemonic phrase or keys to anyone. The world of Crypto Assets is like a dark forest; once exposed, no one can save you. There is no customer service here; once others know your mnemonic phrase or keys, your encryption journey is basically over.

2. Trading Strategies

Long-term investors and traders in the crypto community have differing opinions. The former advocates for regular coin holding and dollar-cost averaging (DCA), while the latter believes in frequently adjusting positions to cope with the rapidly changing market narrative.

Both viewpoints have their merits. In terms of long-term investment, BTC and ETH may be the only two options worth long-term DCA. Looking at the cryptocurrency market capitalization rankings from four years ago to now, very few have remained at the top. The possibility of your favorite coin existing in the long term is actually quite small.

Do not go all-in, and do not let investment become a burden. Learn the technical indicators and trend lines used by traders, and master the timing and positioning of their buying and selling. Although it may seem like an esoteric science, professional traders use these tools, psychological models, and frameworks to protect their capital.

If you do not understand technical analysis, it is easy to suffer from malicious market actions. It is recommended to practice on a demo account before using real money. Although it feels different from a real account, it can help you understand the power of leverage and experience the rapid gains and losses in the crypto assets market.

Compared to the stock market, the volatility of Crypto Assets is on another level. Betting on Meme coins and Ponzi schemes may yield high returns, but in reality, 90% of people will lose money. Success stories often overshadow the voices of the failures, and tales of overnight wealth always spread like wildfire.

3. Continuous Learning and Progress

Seek like-minded individuals and ally with those in the industry who possess curiosity and shared goals. Look for high-IQ, success-driven, energetic people, such as founders, builders, and others.

Learn from friends who are more knowledgeable than you, and discuss ideas through video meetings every week. This will provide you with more inspiration and may shorten the research process.

But always maintain independent thinking. Do not blindly trust others. Please think twice before choosing to collaborate with someone for business opportunities.

4. Responding to Market Volatility

The efficiency of the Crypto Assets market is relatively low, and early entry into new projects can yield substantial returns. However, market narratives change rapidly, and today's hot topic may become a poor choice tomorrow.

Position management has become the most important skill in this industry.

Think carefully and calculate thoroughly before entering the market. If you cannot explain the source of a certain DeFi platform's returns in simple terms, then you are likely the source of those returns. This rule applies to many DeFi protocols.

5. Enhance Influence

To make a difference in the crypto space, you need to be able to quickly adjust your thinking. Don't become the kind of die-hard supporter of an ecosystem no matter what happens. If the narrative changes, you should change along with it.

Crypto Assets do not operate like stock index funds; index funds do not go to zero, but your small coins might. Acknowledge misjudgments and, if necessary, be prepared to accept losses and exit.

Always keep opportunity cost in mind.

Increasing Twitter followers is a simple way to enhance visibility. The best approach is to create content:

1. YouTube video
2. Twitter Theme
3. Podcast Show
4. Blog Writing

Choose the medium you are best at or most want to master. Mastering one medium is much better than being mediocre at all. But the most important thing is to maintain consistency and persist every day.

Achieve attention growth through specific fields, everyone has their own talents. Double down on this and leverage your strengths.

If your content is professional enough, people will pay attention to your tweets because you are an expert. This will become your moat, and no one can compete with you because you have established a trusted reputation.

For meeting invitations, you should decline in 90% of cases. Most meetings are meaningless, and almost everything can be resolved through written communication. It is best to spend your time on creation. If a meeting is necessary, be sure to set an agenda.

6. Opportunity Cost

This concept applies to multiple areas.

For example, portfolio allocation. Many people have an anchoring bias: "My portfolio has dropped by 80%, but I will wait for it to return to the cost price before selling."

Opportunity cost refers to selling a coin at a loss and investing the funds into a target with a stronger fundamental or trend.

The same goes for being fully engaged in Crypto Assets: when you reach a certain level, fully committing to Crypto Assets may be more beneficial than working a regular job.

But please make sure you have a solid capital base to rely on; don't quit without a plan.

7. Time Cost

Outsource tasks as much as possible. While saving money is a good thing, being overly frugal may waste your time.

Cherish your time. If you possess specific knowledge, you must protect your time at all costs and not spend it in areas that cannot bring additional value to your life.

8. Expertise Cost

If you want to join a crypto startup, make sure to work in an area you are good at. Startups need not only developers, but marketing is equally important. A good protocol that nobody knows about won't go far.

There is an unmet opportunity in this field: copywriting. For most people, the descriptions of documents and agreements are too technical.

This could be a business opportunity to establish a marketing agency that writes easy-to-understand introductions for DeFi protocols.

Share your thoughts in public. You will be surprised by how many people want to read your opinions. 99% of people are consumers, while 1% are creators. If you think what you want to write about is saturated, think again.

9. Set Goals

Set a specific financial goal for yourself. With a goal, it's easier to maintain consistency and focus. You don't need to earn all the money in a year; think long-term.

In addition, setting some milestones during this process can also be helpful. For example, when you reach 25% of your overall goal, buy yourself a nice gift.

There are countless ways to make money in the Crypto Assets field. Trading, DeFi, and NFTs, etc. You don't have to limit yourself to one, but you should focus on the area you excel in, and you will become even better.

10. Summary

When you eventually achieve success in the Crypto Assets field, you may find that it is not what you initially wanted. You have money, but your life may not have changed much. Therefore, make sure to set more life goals, not just financial ones. A colorful life will bring you different kinds of happiness.