The 'Fool' in the Cryptocurrency World

Old Zhou has been selling fish at the market for ten years, and he can never get the scales on his hands clean. In 2021, Xiao Wang from the fish stall next door bought a new car by trading cryptocurrencies, which made Old Zhou feel tempted. With his saved-up retirement money of 80,000 yuan, he entered the crypto world.

He didn't understand candlestick charts, nor did he comprehend terms like 'decentralization' or 'smart contracts'. While others chased trends and bought new coins, he kept an eye on Bitcoin—only because he heard someone say, 'This is the oldest coin; even if it drops, it can rise again.'

After his first purchase, Bitcoin fell for three consecutive days. Old Zhou tossed and turned at night, and his wife scolded him for being 'crazy', but he didn't sell. He had a simple method: he would check the price once a day, and as long as it hadn't dropped to his initially set 'bottom line', he wouldn't worry.

In May of that year, the crypto world faced a 'black swan' event, and Bitcoin's price halved. Xiao Wang panicked, cut his losses, and urged Old Zhou to 'run quickly'. Old Zhou calculated: when he bought, it was over 30,000; even if it dropped to 20,000, he wouldn't lose half his principal, so he decided to wait.

That wait lasted for more than half a year. By the end of the year, Bitcoin's price slowly recovered and eventually even rose to over 60,000. His wife urged him, 'Hurry up and sell, secure the profits', but Old Zhou was stubborn: he did some research and learned about an industry conference happening after the New Year, believing he could hold on a bit longer.

It wasn't until February of the following year that Bitcoin surged to nearly 70,000, and Old Zhou finally gritted his teeth and sold. His 80,000 turned into 150,000, and after deducting fees, he netted over 60,000—equivalent to his half-year income from selling fish.

Later, when someone asked him for tips, Old Zhou chuckled while rubbing the fish scales on his hands: 'I don’t understand anything, I just don’t get greedy or panic. While others chase highs and cut losses, I stick to my own rules, and when it reaches the number I have in mind, I take action.'

Now, Old Zhou still sells fish, but he has developed a new habit: every day after closing his stall, he spends ten minutes checking the Bitcoin market but has never bought again. He always says, 'Money is never-ending; keeping to one’s own duties is more important than anything else.'