Legislator Ke Jung-chun's advice to investors: Bitcoin breaks historical record high, what should I pay attention to?

As Bitcoin continues to hit new highs, it also keeps readers updated on the market trends. With the market development, it is attracting more and more users from outside the circle. Legislator Ke Jinyun recently posted on Facebook, offering advice to novice investors and mentioning the current regulatory framework in Taiwan.

Avoid FOMO! Digital Assets are Just an Asset Allocation Channel

Dr. Bao first calls out to those in the industry, stating that for those who already own coins, being happy for one night is enough. He then points out that the risk lies in the fact that there is no perpetual rise, only inevitable corrections, and reminds speculators not to leverage too much.

He also advises users outside the industry on the mindset they should have when entering the circle. Firstly, digital assets are just an asset allocation channel. If you are not clear about this and only enter the circle because of 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 lists of the Financial Supervisory Commission, as this provides more security for investors.

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He also mentions that if one decides to start getting involved, it is advisable to start with strategies such as regular fixed investment and small purchases. The amount should be controlled within 1% to 5% of monthly assets or income, not rushing, and avoiding going all-in. His personal advice is that unless you are a full-time trader, it is not recommended for ordinary people to leverage or borrow.

Regarding market cycles, he says, "Where there are bulls, there are bears, fortunes change, and you can take profits when you see fit, or you can hold for the long term. Unless you are a professional and disciplined day trader, do not easily engage in frequent trading in cryptocurrencies. Your profits may not necessarily be higher than holding long-term, but what you lose is emotions and family."

Beware of All External Information, There are a Hundred Ways to Deceive Your Assets

Finally, he reminds all investors to be cautious of all external information, emails, salespeople's claims, and links. The author adds: this is because besides traditional scams, there are also many phishing links in blockchain.

He also emphasizes the need to verify sources thoroughly and be cautious of being deceived. There is no such thing as a free lunch, and no one can guarantee profits, so anyone promising "easy profits" above 8-15% is definitely not easy and likely carries high risks.

Faster Than Before, Koo Chuen-Kun Affirms Government Attitude has Relaxed

As for the progress of Taiwan's regulation, he points out that from the first inquiry to the Financial Supervisory Commission on March 4th this year requesting the opening of overseas Bitcoin ETF trusts, to the request made to the Premier and the Central Bank on October 20th to consider purchasing Bitcoin as a strategic reserve, he believes that government departments have already relaxed their attitudes since the beginning of this year. However, he thinks that things could move even faster, especially as blockchain and global changes are happening so rapidly. If Taiwan does not accelerate, it will only lag behind without realizing it.