Would the world really be better off if Libra and Melania hadn't been there?

Holding coins and waiting for a rise is a foolish thing to do. If you don't sell at the right time, you're finished. This article is from 0xFinish and 0xTrack members and is compiled, translated, and written by Block Beats. (Previous plot summary: Ben Chow, the founder of the largest DeFi project of Solana, was exposed to 'conspire with Kelsier Venture' and used M3M3, $LIBRA, $MELANIA... to play people for suckers, with a total of over 200 million pounds.) (Background supplement: Play you! The Argentine president retweeted the purchase tutorial of $LIBRA and quickly pulled a 100% rise, then distanced himself: 'This is not promotion', and the price fell back to the original point.) The author reviewed the birth of PumpFun, the differences between BTCHalving, 2021, and the current eyewash, and how to adapt to the new market cycle, reminding investors to pay attention to the limited liquidity in the current market environment, have a clear selling strategy, and closely follow the narrative in the market rotation to avoid excessive fear of missing out. At the same time, always keep some profits in the stable coin, and continue to accumulate long-term quality assets like BTC. The following is the original content (slightly edited for ease of reading): This cycle is very difficult, worse than any previous cycle. Many people even call it the 'crime cycle' because the continuous rise of 'Be Played for Suckers' and the number of rug projects are worrying. The purpose of this article is to review the past and try to predict what challenges we, small partners who only want to succeed, will face next. The birth of PumpFun On January 19, 2024, PumpFun was born, and the face of meme coin changed forever. Everyone had the opportunity to launch tokens, regardless of their age, profession, or nationality. At that time, the heat was not high, but PumpFun gradually made a strong push in March 2024, with the first projects being $MICHI and $FWOG. Anyone could launch a meme coin in seconds, which changed the entire market. With more and more tokens appearing, PumpFun became a fair issuance platform, with no insiders playing people for suckers. Although it looked attractive, the withdrawal fee was huge. Since its launch, PumpFun has earned over 2.86 million $SOL, equivalent to about 577 million US dollars. It may be one of the most successful start-up projects ever. This liquidity is permanently withdrawn and goes into the pockets of PumpFun's developers. But I think this is an important reason that makes this cycle different from others. We will explore this further later. BTCHalving Next is an important moment in the current cycle. On April 20, 2024, the BTC mining reward was reduced from 6.25 BTC to 3.125 BTC. When the first ETF was approved on January 10, 2024, many people thought it might be a 'sell the news' event, but in fact, we saw a new ATH. The combination of ETF + Halving is the strongest bullish signal for BTC, as many people have been waiting for institutional liquidity to start entering the market. And that's exactly what happened. Fidelity, BlackRock, and MicroStrategy are buying in every day, continuously injecting liquidity into the market. This gave people hope. They thought this bull market would be similar to the previous ones, but this time everything was different. The market is always against the masses, which means if retail investors are bullish, the market is likely to fall, and vice versa. Perhaps this is what happened here, and we are about to reveal this. Your expectation is the problem Looking back at the cycles of 2017 and 2021, the situation was very similar. Making money was not difficult, and no special knowledge was needed. At that time, there were 10-20 well-known Mainstream Tokens, and everyone was accumulating continuously. First, BTC rose, then ETH followed, as the beta variety of the cycle, usually with a higher return. Then we would switch from ETH to other Mainstream Tokens, and then to some small coins. This is also why many people in 2024 decided to skip the BTC stage and directly invest in ETH or other AltCoins, the logic is simple. If ETH can rise by 5 times, larger AltCoins can rise by 10 times, why wait for a 2-3 times return on BTC? This logic is very direct, however, the 'masses' did not consider that this cycle might be different. The number of projects, tokens, and meme coins is 100 times more than before, and everyone bought familiar tokens like $DOT, $ATOM, $ADA, waiting for the promised 10 times return. As a result, when liquidity started flowing into AltCoins, the excessive number of new projects left the old projects behind. The eyewash of 2021 is different from now I just saw @Overdose_AI make a valid point, so I decided to add it here. Back in 2021, the scammers of 'Be Played for Suckers' were very creative, as long as they were not too greedy, almost everyone could jump ship. Terra $LUNA was controlled by Do Kwon FTX was controlled by Sam Fried 3AC invested for a long time before the collapse Alameda promoted different narratives and controlled the market At that time, scams were relatively difficult and required some intelligence. But now, people are simply using big names, celebrities, and even rulers of great powers to promote their garbage projects. People have become accustomed to gambling, entering $TRUMP and $MELANIA out of fear of missing out, and deciding to make up for losses through $CAR or $LIBRA, only to lose all their money. I know 10 to 15 excellent traders who once invested in $LIBRA through DCA, waiting for a callback opportunity, while insiders made over 100 million dollars from them. It's time to adapt It's time to understand that the cycle will never be exactly the same. AltCoins are not just the beta of BTC or ETH, they are a completely different sub-market, bringing more risk and more opportunities. You can't just continue to long $DOT or $ATOM just because BTC has retested the new high, as it was effective in 2021. Don't get me wrong, I still believe in BTC and believe it will remain one of the best compound interest assets in the next 10 to 20 years, but the returns will be similar to stocks, no longer the easy 200% annual rise. The conclusions you need to remember in this cycle 1. Holding coins and waiting for a rise is a foolish thing to do. If you don't sell at the right time, you're finished. @MustStopMurad has been telling you to hold coins, and almost all his meme coins have fallen by 80%-90% since ATH. 2. You need to have a clear selling strategy. I know this may sound harsh, but the market is like this, you must determine when to exit before making a trade. 3. Rotate the narrative, recently we have experienced crazy market rotations from meme coins to AI agents, and then to $TRUMP. If you don't keep up at any time, you can almost guarantee that most of your profits will be wiped out. Always follow the market narrative, and...