The bear market forces retail investors to transform: shifting from get-rich-quick fantasies to long-term value accumulation.

Author: Picolas Cage

Translated by: TechFlow

Original Title: The Era of Getting Rich Quick in Crypto Is Over. Some Advice for Retail Investors in the Bear Market

Some thoughts on the market and advice on how to profit from it or cope with it.

Over the past two years, the market has changed significantly—it has gradually matured and attracted more institutional capital and adoption.

1. As a retail “small fish,” you’re unlikely to make life-changing wealth from Bitcoin anymore. I believe it’s very hard for Bitcoin to have that kind of explosive upside now. As an asset, it’s just too big at this point. I once bought Bitcoin at $6,000, and in 2018 I had the chance to make a 20x return.

Getting another 20x from here? That would mean Bitcoin has to reach $1.8 million—which, in my view, would take well over 8 years.

I think a more appropriate perspective for retail investors is to view Bitcoin as a store of value with sustained demand. The downside is, you can’t just buy the “safest” asset in crypto (like the top-ranked Bitcoin) and expect to turn a few thousand dollars into life-changing returns.

But the good news is, when I first entered the market, holding Bitcoin was pure torment. March 2020? Down 40% in one day. Imagine Bitcoin dropping to $54,000 in a single day. That kind of volatility made it very hard to stay exposed to crypto.

So, the good news is (though this may be a bit bold), the likelihood of Bitcoin dropping that much in a single day is now very small—it might take a week, but that gives you plenty of time to adjust and rethink your strategy.

2. Because of the above, it’s become much harder to make money in crypto, so you have to move further out on the risk curve. This means investing in altcoins, or, more recently—memecoins. Memecoins are the altcoins of this cycle—memecoin mania, in my view, is the new “altseason.”

The problem is, by definition, memecoins aren’t worth long-term trust or holding, so they complete their infamous “rollercoaster” cycles much faster.

The flood of meme culture, combined with the reality that Bitcoin can no longer create massive wealth, has fostered a widespread short-term mindset among retail investors and young people.

I think this short-termism is amplified by “high-dopamine culture” especially among Gen Z and younger groups. TikTok, YouTube Shorts, Instagram Reels—plus modern gaming, everything is about instant dopamine hits.

When this craving for quick hits is applied to investing or trading, the result is that 99% of people get “rekt” (lose badly)—and the facts bear this out. Most people lost money on memecoins.

Even popular coins like ETH (Ethereum) and SOL (Solana) have underperformed, unless you managed to buy at the exact bottom of the bear market. All these factors have driven the “get rich quick” mentality in the market.

3. The era of getting rich quick is over—it probably won’t work anymore.

As I explained, it used to be possible to get rich quick trading mainstream coins like BTC or ETH, but with institutional investors coming in, that chance has basically disappeared. I’ve laid out the pros and cons of this change, and what it inevitably leads to (short-termism, instant gratification, gambling, herd mentality, etc.).

So, what should we do now? As a boring “old uncle,” what I want to tell you is that getting rich slowly over the next 5–10 years is absolutely worth it.

For reference, true wealth is not having $5 million+ in assets and living on a yacht; true wealth isn’t escaping so-called “government oppression.” It’s having more free time to pursue hobbies and interests on this earth, being able to spend quality time with friends, a partner, or your kids, without suffocating anxiety from financial pressure—that’s real wealth.

For example, having a bit of cash or a mortgage—these things can genuinely improve your quality of life. Don’t get distracted by all the “Rolex and supercar” nonsense—that’s designed to keep you poor and trapped in the system. If you think owning luxury cars, watches, and material wealth is the key to happiness, you’re still stuck in the Matrix. (@Tate brothers)

Enough talk—here are some practical guidelines:

Laddering in: Yes, Bitcoin may be less volatile now, but it’s still volatile. Be patient, watch market sentiment, and wait to buy in batches when the market “blows up.” I’m not telling you to pick the exact bottom—that’s too hard and risky. I’m saying be patient, keep some cash on hand, and put in more as prices drop, using a laddering strategy.

DCA (Dollar Cost Averaging):

Put in a fixed amount every month that you can afford, say $250—buying an equivalent amount of Bitcoin each month (even better, $62.5 every week).

It’s a boring but effective strategy, because you’re basically always buying the dip. When Bitcoin pumps, you don’t even need to wait for a new all-time high (ATH) to see good returns. And, as we discussed, Bitcoin is almost certain to still exist in the next decade, so holding it as an asset will get easier—that’s what Cobie means by “the easy road is $100K to $250K.”

Farm airdrops:

Yes, airdrops are fewer now, but they still happen occasionally. It’s free money, just remember to set some aside for taxes.

Learn crypto and keep researching:

Use your spare time to learn about crypto and use that to build up your account. Once you have an account of decent size, look for InfoFi (information finance) partnership opportunities (if they still exist) or KOL partnerships with respected and trustworthy projects. But don’t shill trash projects for quick cash—it’s not just unethical, it’ll hurt your personal brand in the long run. Remember, your friends aren’t your “exit liquidity.”

Don’t quit your job:

I can’t stress this enough. Investing is like a rollercoaster—you can’t get off in the middle, you have to ride it out. If your money is in long-term multi-year investments (like ETH or BTC), you can’t take it out just because you need it along the way.

Treat the money you invest as already “gone”—so only invest what you can afford to lose. Don’t over-invest, don’t invest or trade emotionally. Build your investment logic, develop mental resilience (avoid panic selling). Don’t do dumb things like building a 5–10 year plan around AIDogecoinNFTclubwifhat or whatever, please.

Save money, be frugal:

If you spend your new gains on flashy stuff, here’s what you’re doing:

“We buy things we don’t need, with money we don’t have, to impress people we don’t even like.”

“Oh, but I do have the money.” Trust me, bro, you don’t. You’ll need it later. I’m 36 this year—trust me, you’ll need it. Life is expensive, really expensive—especially when you have a family to support.

Most young men buy luxury goods to impress girls or friends, because they’re insecure, which is totally understandable. I’ve been there, it’s tough and not easy—but that’s no real excuse.

The smartest thing I did as a young man to deal with this was to make myself strong and fit. I took advantage of my high testosterone levels at the time and focused on working out. This gave me confidence walking into any room, even a sense of superiority, because my physique was always strong and well-proportioned.

I didn’t need to wear an expensive watch to prove anything—my body did that for me. I didn’t need to wear luxury brand clothes either. Even if you’re wearing a $10,000 shirt, I’ll look better in a regular T-shirt because it fits my body and shows off my athletic build.

Anyway, that’s my two cents and personal opinion—it’s normal if some disagree. I’ve said enough, could go on, but I’ll leave it here.