I was born in 2000, and I just turned twenty-five this year. In fact, I heard about Bitcoin as early as 2018, but at that time I was young and didn't pay much attention. It wasn't until last year, when the price of Bitcoin soared to over $70,000, that I truly realized its potential.
However, despite the soaring prices, I felt that it was not a field I could venture into, as I knew nothing about it. It wasn't until last November, when the market sentiment surged and Bitcoin broke the $90,000 barrier, that I began to seriously consider this potentially life-changing opportunity. Thus, I started researching cryptocurrency-related information on platforms like Zhihu and Bilibili. Watching people in the group share their profit stories ignited a dream of getting rich in my heart.
When I first entered the market, I adopted a conservative strategy, only investing in the spot market and avoiding leveraged contract trading. At that time, Dogecoin was priced at about $0.38, and the market generally predicted its price would reach $1. Influenced by this optimistic sentiment, I used my only 1,000 yuan to buy Dogecoin. To increase my funds, I also persuaded my mother to give me an additional 1,000 yuan for investment. After my first trade, I made a small profit by buying low and selling high, which made me a bit complacent, thinking that making money was easy.
However, these meager earnings did not satisfy my desires. Seeing others earn high returns through contract trading, I was eager to try it myself. Eventually, in a moment of impulse, I made a large purchase when the price of Dogecoin was $0.38. Unfortunately, shortly after, the price of Dogecoin began to decline, and my position quickly turned into a loss. Faced with the ever-expanding losses, I felt extreme panic and attempted to avoid forced liquidation by adding margin. However, with limited funds, I ultimately had to accept a loss.
This experience made me deeply realize that entering contract trading recklessly without sufficient knowledge and experience is no different from gambling. The market is extremely volatile, influenced by various factors, making it difficult for ordinary investors to accurately predict trends. The operations of the big players further put retail investors at a disadvantage. After this failure, I recognized my greed and immaturity, and I also understood the importance of risk management.
Now, I have decided to withdraw from this risky market. I hope that by sharing my story, I can remind others not to repeat my mistakes. Remember, contract trading is not a game that ordinary people can easily master; it often leads to serious financial and personal crises. Please cherish your money and mental health, and stay away from high-risk investment behaviors.
