1. Entry: First acquaintance with the madness of the cryptocurrency world$BTC $ETH
I first heard about Bitcoin in 2017. At that time, the price of Bitcoin rose from a few thousand RMB to nearly $20,000, and the entire market was boiling. Some people around me became rich overnight, while others lost everything. I was attracted by this madness and decided to take out 50,000 RMB to test the waters.
At that time, I knew nothing about blockchain, and I only knew that "buying coins can make money." On the recommendation of a friend, I registered on an exchange and bought 0.5 Bitcoin and some Ethereum. Unexpectedly, I encountered the big bear market in 2018 as soon as I entered the market. Bitcoin fell from $20,000 to $3,000, and my assets shrank by 80%.
Lesson: Blindly following the trend is a taboo in the cryptocurrency circle. Don’t touch things you don’t understand.
2. Learning: From speculation to investment
The disastrous failure in 2018 made me realize that if you want to make money in the cryptocurrency world, you can’t just rely on luck. I started to learn blockchain knowledge crazily, read white papers, research projects, and pay attention to industry trends. I learned that the cryptocurrency world is not just Bitcoin, but also DeFi, NFT, public chains, Layer2 and many other tracks.
In 2019, I started to invest in Bitcoin and Ethereum, and used a small portion of my funds to participate in some emerging projects. For example, I bought Chainlink (LINK) at $0.3, and it later rose to $50. Although I didn't hold on to it, this experience made me understand that finding the right track and holding high-quality assets for a long time is more reliable than short-term speculation.
3. Seize the DeFi wave: the first pot of gold
In 2020, DeFi (decentralized finance) exploded. I studied projects such as Compound, Uniswap, and Aave, and found that they solved the efficiency problems of traditional finance. So, I decided to go all in on DeFi.
I bought UNI (Uniswap's token) with 20,000 RMB when the price was less than 3 USD. A few months later, UNI rose to more than 30 USD, and my funds increased 10 times. At the same time, I also participated in liquidity mining, with an annualized return of up to 100%-500%. By the end of 2020, my assets had grown from 50,000 to nearly 1 million.
Key point: Discover trends in the early stages of the industry and dare to invest heavily.
4. NFT and GameFi: The Second Leap of Wealth
In 2021, NFT and GameFi became new hot spots. I participated in Axie Infinity early and bought AXS tokens at $5, which later rose to $150. I also bought some blue-chip NFTs, such as Bored Ape Yacht Club (BAYC), which had a floor price of less than 1 ETH at the time and later rose to more than 100 ETH.
This investment has increased my assets from 1 million to 5 million. The secret is: enter the market at the beginning of the bubble and gradually exit when the market is crazy.
5. Bull market escape and bear market layout
At the end of 2021, Bitcoin rose to $69,000, and the market was in a frenzy. But I found that even the aunties who were buying groceries were discussing Bitcoin, which was obviously a sign that the bull market had peaked. So I sold most of my positions and cashed out more than 8 million.
In 2022, the market entered a bear market and Bitcoin fell to $16,000. I started to buy the bottom in batches, buying Bitcoin, Ethereum and some high-quality altcoins. By 2023, the market recovered and my assets exceeded 10 million.
Core strategy: Sell when the bull market is crazy and buy when the bear market is desperate.
6. Mindset and risk control: The winner is the one who survives
There are many stories of people getting rich overnight in the cryptocurrency world, but there are even more stories of people going bankrupt. My experience is:
Don’t go all in on one coin: diversify your investments to reduce risk.
Set a stop loss: for example, if the principal loss is 20%, exit resolutely.
Don’t touch contract leverage: 99% of people die because of this.
Long-term thinking: hold on to core assets (BTC, ETH) and use the profits to play altcoins.
7. Reflection and Suggestions
From 50,000 to 10 million, it seems glamorous, but behind it are countless missed opportunities, losses and sleepless nights. There are many opportunities in the cryptocurrency circle, but there are more traps. If you also want to enter the market, my advice is:
Learn first: Spend at least 100 hours studying blockchain basics.
Test the waters with a small amount of money: Don’t invest all your assets at the beginning.
Pay attention to the cycle: make money in the bull market and save coins in the bear market.
Stay calm: Don’t let FOMO (fear of missing out) take over.
8. Conclusion
The cryptocurrency world is a place full of miracles, but miracles only belong to those who are prepared. My story has some luck, but more of it is the result of continuous attention to the industry and rational decision-making. If you also want to make money in the cryptocurrency world, remember: wealth is the realization of cognition. Money earned by luck will eventually be lost by strength. #币安Alpha上新 #Strategy增持比特币 #Strategy增持比特币
