Encouraging the Community to Persist in Shorting LUNA, GCR Issues a Noteworthy Article Advocating for Spot Trading without Surrender
GCR, who became famous for shorting LUNA, released a post for the first time in a year, warming the hearts of the community after experiencing the crypto bloodbath over the weekend. GCR stated that now is a good time to add positions to trusted tokens, but if you are already fully invested, stick to spot positions and do not surrender. Because fair wealth comes from leveraged traders forced to turn to wealthy spot buyers.
TechFlow, the deep tide, has also compiled GCR’s core advice on crypto investments over the years. Here is an excerpt from Chain News.
Table of Contents:
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To be a Holder or a Trader?
The biggest advantage of meme coins is “never deliver”
The authenticity of crypto news is not important, the duration of its impact is more important
Fast in the beginning, but then slow down
Eliminate the weak and keep the strong
Don’t be influenced by others making big profits, realizing profits is the truth
To be a Holder or a Trader?
If you have a long-term belief in BTC and ETH, it is better to simply hold them instead of constantly trading, as they will continue to rise and print more money. The price of ETH reaching $10,000 will happen sooner than expected.
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The biggest advantage of meme coins is “never deliver”
For DOGE, the most optimistic scenario is that Twitter (now renamed as X) will never actually integrate it into anything. This will be a subject that Musk uses for teasing, hinting, mocking, puzzling, and joking, allowing people’s imagination to run wild, but it will “never deliver.”
The authenticity of crypto news is not important, the duration of its impact is more important
When news affects prices, market participants usually focus on whether it is true. However, many times, the truth of the headline is not important, but rather the market’s reaction to the news and the duration of its impact.
Fast in the beginning, but then slow down
We observe the trading principles of meme coins: In the altcoin cycle, you should increase your risk consideration when the trend reverses for the first time and gradually protect your capital over time. The reason people fail is that they do exactly the opposite.
Eliminate the weak and keep the strong
Try to imagine a Ponzi scheme as a professional boxer fighting for a bonus. In a boxing match, the winner gets the prize, while the loser gets nothing. But people often make decisions like this: when an investment performs well, they sell it, and when another investment performs poorly, they add more to it.
Don’t be influenced by others making big profits, realizing profits is the truth
Wealth is only real when it is actually realized. When trading volume exceeds market capitalization, it often means that the price increase is in its final stage. Furthermore, do not let news of others making big profits affect your own trading psychology.
GCR
TechFlow, the deep tide
Further reading
ETHTaipei 2024 | Developers compete for a prize of NT$2.3 million, anonymous dating, and privacy transfer services highlight
What is EIP-3074, the next update for Ethereum? How does it achieve account abstraction?
