As Bitcoin continues to reach new highs, Chain News is constantly updating market trends for readers. With the development of the market, more and more users from outside the industry are being attracted. Legislator Ke Jyun-jun recently posted on Facebook, offering advice to novice investors and mentioning the current regulatory framework in Taiwan.
Don’t be complacent! Digital assets are just one asset allocation channel
Dr. Bao first called out to people within the industry, stating that for those who already hold coins, it’s enough to be happy for one night. He then pointed out the risk lies in not experiencing eternal growth, only inevitable corrections, and reminded speculators not to leverage too heavily.
He also advised external users on the mindset they should have when entering the industry, emphasizing that digital assets are just one asset allocation channel. If one is unclear and only entering the industry due to the huge returns, then please do not treat it as an “investment.” Additionally, it is recommended to prioritize using well-known platforms listed on the Anti-Money Laundering and Self-Regulatory Organization list by the Financial Supervisory Commission for a more secure option.
He also mentioned that if one decides to start getting involved, it is advisable to start with strategies such as regular fixed-dollar cost averaging and small purchases. The amount should be controlled at 1% to 5% of monthly assets or income, avoiding impulsive decisions and going all-in. His personal recommendation is unless you are a full-time trader, it is not advisable for the general public to use leverage or borrow money.
Regarding market cycles, he said, “Where there are bulls, there are bears. Things change, and you can take profits when things look good, or you can hold for the long term. Unless you are a professional and disciplined day trader, do not easily engage in frequent trading. The profit you gain may not necessarily be higher than holding for the long term, but what you lose is your emotions and family.”
Be careful of all external information, there are a hundred ways to deceive your assets
Finally, he reminded all investors to be cautious of all external information, emails, salespeople’s claims, and links. The author adds: this is because besides traditional scams, blockchain also has many phishing links. He also stressed the importance of verifying sources and being wary of being deceived. There is no free lunch in the world, and nobody can guarantee profits. Anyone promising “easy profits” above 8-15% is definitely not easy, and there may be high risks involved.
Faster can still be faster, Ke Jyun-jun confirms that the government’s attitude has relaxed
When discussing the progress of regulation in Taiwan, he pointed out that from the first time he questioned the Financial Supervisory Commission on March 4th this year to open overseas Bitcoin ETFs for secondary trust, to last month on October 20th requesting the Premier and the Central Bank to consider purchasing Bitcoin as a strategic reserve. He believes that government departments have begun to relax their attitudes this year. However, he believes that things can be faster, especially since blockchain and the world are changing rapidly. If Taiwan does not accelerate its progress, it may be left behind without realizing it.