I. The Magical Start with 50,000 Yuan: When the 10 Million figures left me dazed At the beginning of the 2017 bull market, I jumped into the crypto world with 50,000 yuan of wedding money. I remember buying BTC for the first time at 12,000 USD, and three months later, it rose to 19,000; when my account balance broke 100,000, I rolled on the floor of my rented room — that was the first time in my life I felt 'financial freedom' was within reach.
The real madness began in 2021. I gambled 500,000 yuan on a certain DeFi coin, catching the explosion of the 'liquidity mining' narrative, and in 15 days, it multiplied by 20 times. When my account jumped to 10 million, I rented the top floor of Shenzhen Bay One, driving a rented Porsche to the exchange daily to 'inspect the market.' At friend gatherings, I slammed the table and shouted: 'You can make money in crypto with your eyes closed!' Yet I didn't realize that I didn’t even understand what a smart contract was back then.
II. From 10 Million to 8 Million in Debt: That night after the liquidation, I smoked 3 packs on the rooftop On December 23, 2021, the nightmare began. I shorted BTC with 10 million yuan of principal and 5x leverage, just as the news of the Federal Reserve's interest rate hike hit, BTC skyrocketed from 60,000 to 69,000. At 3 AM, my phone received 27 liquidation messages in a row; my 10 million yuan principal vanished, and I owed the exchange 8 million.
I was hiding in a rented room in the urban village, trembling at the collection messages. When my father called, I was gnawing on a cold steamed bun, and he was yelling on the other end: 'You are playing with electronic drugs!' After hanging up, I stood on the 6th-floor rooftop, holding a lighter, wanting to set the bed sheet on fire — when I got to the filter of the last cigarette, I suddenly remembered the first BTC I bought when I entered the circle; at that time, I couldn't even understand K lines, yet I was happier than now.
III. 10 Iron Rules for a Comeback: From Debt to 29 Million in 700 Days In March 2022, I restarted with only 8,000 yuan of principal and wrote down 10 operational iron rules on the first page of my notebook:
1. A strong coin that has fallen for 9 days will shine like gold.
I remember when I bottomed out a certain AI coin; it dropped from 3U to 0.8U, and on the 9th day of decline, I all-in with 5,000 yuan. Two weeks later, it rebounded to 2.3U, recovering my initial capital.
2. If it rises for two consecutive days, reduce your position; greed is the prelude to liquidation.
In November 2022, a certain MEME coin rose for 3 days; I reduced my position by 60% during the second day's peak, avoiding a 40% crash on the third day — this move helped me preserve my principal in the bear market.
3. Volume and price are the soul; high volume at peaks is a signal to exit.
In April 2023, a certain DePIN coin suddenly showed high volume at the peak and stagnated; I decisively liquidated, only to find out later that the whale was offloading, and the retail investors who bought in were trapped at a 70% loss.
4. Only trade coins in an upward trend; only enter when the 3-day line is pointing up.
I’ve been drawing K-line charts for 3 years, concluding that when the 3-day line starts turning up, it's a short-term opportunity, and when the 30-day line is up, it’s a mid-term trend. Last year, while waiting for a certain public chain coin, I waited 3 months until the 30-day line completely turned, ultimately earning 4 times my investment.
IV. Now with 29 Million in Assets: I wrote these pieces of advice by the sea in Sanya On August 6, 2023, when my account balance was frozen at 29 million, I was running by the sea in Sanya. Over the past two years, I grew from 500,000 to 29 million, with a return rate of 418,134%, relying not on luck but on engraining those 10 iron rules into my bones.
Now I:
Store 70% of my assets in a cold wallet, leaving only 30% in exchanges; spend 20 hours a week studying white papers, and no longer trust any 'inside information.' I bought a house for my parents back in my hometown but never told them where the money came from.
A few days ago, I stumbled upon my trading records from 2017; the first order of 50,000 investing in BTC is still there. Suddenly, I understood: the crypto world has never been an ATM but a mirror that reflects human greed and the power of persistence.
The last 10 words for newcomers (every word is blood and tears)
1. Invest with spare money; don’t touch borrowed leverage.
2. Set 'buy after 9 days of decline, sell after 2 days of rise' as your phone wallpaper.
3. Spend 1 hour daily analyzing on-chain data; Etherscan is more reliable than K lines.
4. Build positions in 3 phases, take profits in 3 batches; don't imitate my past all-in strategy.
5. Write 'volume-price divergence = exit' on the first page of your notebook.
6. If the 30-day line is not pointing up, I'd rather sleep than trade.
7. Withdraw 30% of your profits first to insure your living expenses.
8. Stay away from coins that are hot in communities; real opportunities exist where no one cares.
9. After a liquidation, don't rush to recover; pause trading for 3 months before reviewing.
10 Remember: Those who survive in the crypto world are all 'cowards.'
