I first heard about Bitcoin in an economics elective class in 2019. The professor mentioned: "Bitcoin is a decentralized digital currency, not controlled by any government." My reaction at the time was: "Is this thing really valuable? Could it be a scam?"
At that time, the price of Bitcoin hovered around $10,000, and I was still hesitating whether to save a little of my living expenses to try it out. In the end, I decided to wait and see—this decision made me regret later, because half a year later, Bitcoin rose to $14,000.
After missing the first opportunity, I started to study seriously:
What exactly is Bitcoin? (Whitepaper, blockchain principles)
Why are some people willing to spend real money to buy virtual coins? (Scarcity, anti-inflation properties)
How to buy? (Exchange, wallet, private key management)
After two weeks of frantic cramming, I finally registered an account on Binance, bought 0.01 BTC with 1,000 yuan, officially becoming a "holder."
In March 2020, when the COVID-19 pandemic broke out, global financial markets plummeted, and Bitcoin once dropped to $3,800. I was so scared that I almost cut my losses, but after watching some big players' analysis, I decided to hold on.
As a result, by the end of 2020, Bitcoin started a violent bull market:
In December, it broke through $20,000 (a historical high)
In January 2021, it surged to $42,000
In April, it reached $64,000
My 0.01 BTC turned into over $600, nearly quadrupling! I started to feel elated, thinking I was an investment genius.
But the real temptation was just beginning—the altcoin frenzy.
Dogecoin (DOGE) skyrocketed 100 times due to a tweet from Musk
SHIB (Shiba Inu) went from zero to a market cap of 100 billion
Various meme coins staged a show of "opening 100 times, going to zero in just 1 hour"
I couldn't hold back and invested 5,000 yuan into the altcoin market. What happened?
Made a profit: a certain MEME coin increased five times in three days
Lost money: another project team ran away, went to zero directly
Final outcome: when the bull market ended, I lost more than half of my profits and barely broke even.
Lessons from the first bull market:
Don't FOMO (fear of missing out), just because others make 100 times doesn't mean you can too
In a bull market, everyone is a stock god; only in a bear market do you realize who is swimming naked
Holding spot positions lasts longer than playing contracts
In 2022, LUNA collapsed, FTX blew up, Bitcoin fell to $16,000... the market was in despair. My account shrank by 70%, but this time I didn't panic; instead, I calmed down and learned:
1. In-depth study of blockchain technology
Smart contracts (Ethereum, Solidity)
Layer 2 solutions (Arbitrum, Optimism)
DeFi (Decentralized Finance) and NFTs
2. Establish investment discipline
Don't go all in: single investments should not exceed 10% of total funds
Dollar-cost averaging: buy BTC/ETH fixed amounts every month, ignoring short-term fluctuations
Don't touch leverage: I've seen too many people get liquidated on contracts
3. Explore new opportunities
Bitcoin ecosystem (Ordinals, BRC-20)
RWA (Real World Asset Tokenization)
AI + blockchain projects
This bear market made me realize: the crypto space is not just about trading coins, but also real technological innovation.
In 2024, Bitcoin broke through $70,000, and the market was once again euphoric. But this time, my strategy was completely different:
1. Core position (BTC + ETH) for long-term holding
Regardless of ups and downs, hold for more than 5 years
2. Small capital exploring Alpha opportunities
Focus on new tracks (Depin, modular blockchain)
But not all in, control risks
3. No longer addicted to short-term trading
Uninstall contract software, only trade spot
Set stop-loss and take-profit, don't be greedy
4. Start creating content
Write tweets, conduct research, enhance cognition
Know more industry builders, rather than gamblers
