Understand the crypto world in one article

The crypto world is a niche community formed spontaneously by digital currency players. Although it is not large in scale, it encompasses diverse formats such as ICOs, coin trading, mining, and exchanges.

Development history of the crypto world

1. Budding Stage (2008-2010): On January 3, 2009, Satoshi Nakamoto mined the first batch of bitcoins, giving birth to the genesis block and marking the advent of bitcoin.

2. Growth Period (2011-2014): In 2011, Litecoin and other altcoins emerged, most of which were modified from Bitcoin's code and gradually declined due to their single functionality.

3. Scalability and Forking Period (2014-2017): Projects began to expand the application of digital currencies, the decentralized exchange BitShares was born, and ICOs rose.

4. Confusion Period (2018): Market decline, the market enters a winter season, Bitcoin's market value shrinks, but blockchain technology extends into non-commercial fields, ushering in the 3.0 era.

5. Expansion Period (2019-2023): From niche to global, new phenomena such as DIFI, decentralized exchanges, and digital collectibles have emerged.

Review of the Bull Market in the Crypto World

• In 2010-2011, Bitcoin rose from $0.0025 to $31.9; in February 2012, its value shrank by 93%.

• In 2013, Bitcoin reached a peak of $265, then plummeted 60% in a week; on November 30 of the same year, it peaked at $1163, subsequently entering a 3-year bear market.

• On December 17, 2017, Bitcoin peaked at $19660, followed by a crash in 2018.

• In 2021, Bitcoin broke the 60,000 barrier twice, and in 2022, it entered a bear market.

• Bitcoin rebounded after falling to $15,500 in 2023.

• In 2024, Bitcoin and mainstream coins will halve, and a bull market will arrive.

Bitcoin is expected to迎来 the next halving between March and June 2024.

Ways to make money in the crypto world

1. Exchange arbitrage: An activity where exchanges collaborate with project parties to offer rewards, allowing participants to stake platform tokens in exchange for new coin rewards.

2. Participate in airdrop: Engage with a product experience mindset to obtain airdrop rewards.

3. DeFi Mining: Provide liquidity to DeFi platforms to earn platform token rewards.

4. Project Mining: Participate in early project mining to obtain tokens, then trade or sell after it is listed on exchanges.

5. Arbitrage: Trading by utilizing price differences between exchanges.

6. Spot trading: Buy coins at a low price and sell them at a high price.

7. Contract trading: Use high leverage for ultra-short-term trades to amplify profits.

Beginner's Guide

1. Learn Knowledge: First, improve your trading knowledge, don't rush to enter the market.

2. Spot Investment: After gaining a certain understanding, choose the right timing and coin to buy spot, set a target price, and sell after the price rises.

Market judgment and coin selection

Market Judgment

1. When buying pressure is greater than selling pressure, the price rises; rapid increases are often due to significant positive news, while slow increases stem from long-term positive outlooks.

2. When the selling pressure is greater than the buying pressure, the price drops. A rapid decline is often due to significant negative news, while a slow decline is a result of long-term negative factors.

Factors Affecting Coin Prices

News positives and negatives, technological upgrades, changes in production, market sentiment, etc.

Selection of Potential Coins

Understand information about coins, market conditions, development trends, popularity, etc.

Path of the Advanced Expert

1. Self-improvement: Continuously learn, practice, and accumulate experience.

2. Learn from experts: minimize pitfalls and grasp trends.

The crypto world is high-risk, and newcomers should learn and observe more to find a trading method that suits them, reducing trial and error costs. When bottom-fishing, focus on reducing the cost of holding coins. If you want to learn in-depth, you can join the advanced group to obtain spot layout strategies, market analysis, etc. for 2023 - 2024, and start your trading advancement journey. #DOGE启动官方储备