What is the cryptocurrency really like? Can people really make money in the crypto world?
A question from a six-year veteran!
I have been in the crypto space for many years and have my own main job, engaging in crypto as a side hustle. I previously dabbled in stocks and mutual funds. When I first entered the crypto world, I was completely clueless, encountering many unfamiliar terms that I didn't understand, and I didn't know how to operate or what strategies existed! I stumbled around for half a year, learning only a little. During that time, I also lost quite a bit, but fortunately, it was all spare money that didn't affect my normal living expenses.
Later, I calmed down and thought about it; this wasn't working. Should I just exit the market? Stop playing, accept the losses, and stop hoping to break even!
So another year passed, and I remember at the end of 2023, while watching videos, I saw news about Bitcoin and the ETF approval from the SEC, plus it was the period of Bitcoin's halving. My heart started to stir again, eager to try, and I couldn't resist jumping back in. This time, my performance was decent; I had some small gains overall, which gave me a lot of confidence. Coupled with a good income from my main job, I began to invest more. Eventually, I made up to seven figures, but by the end of last year, I noticed the hot topics were all about Solana's rapid token launches, and I got carried away, engaging in PVP trading. With not much work at the end of the year, I spent all day watching smart money, X, gmgn, and other websites looking for finds, ultimately losing to my own greed. I didn’t cash out my profits and cut losses when I should have, leading to a significant shrinkage of my account, leaving me with six figures.
After reflecting on my pain, I entered a low point again, buying some spot tokens to hold onto. Unfortunately, they were cut in half again, just like the mutual funds I bought earlier, lying in my wallet without looking at them again. I thought maybe when the market booms, there will be a third wave of trends.
Later, while chatting with friends about recent events, I finally had someone to share my grievances with (those who have played in the market know that you only share good news with family). A friend told me last year to try quantitative trading. At that time, I was overly confident and didn’t want to hear anything about quant trading.
In the end, everyone saw it; history repeated itself. Yes, I started using quant trading to get by, how ridiculous.
