32-year-old Chengdu guy's comeback in Guangdong: from 2 million in debt to 7-figure assets, after 10 years of trading cryptocurrencies and understanding 6 key rules, just one step away from breaking into 8 figures

'Bro, your 7-figure assets are just a zero away from 8 figures, are you in a hurry?'

Last week, while drinking with fans, someone asked me this. I laughed and shook my glass — they don't know that 10 years ago, I entered with 50,000, earned 1 million, lost 2 million, and at my worst, I had to rely on online loans to pay my mortgage; now, I have two houses in Chengdu (one for my parents, one for myself), a car in the garage from last year, and my account balance is just one step away from hitting 8 figures.

There are always people chasing 'insider news' and betting on 'crazy altcoins', but the path I've walked over these 10 years is all about 'simple methods': avoiding leverage, not guessing tops and bottoms, earning and withdrawing funds to buy houses and cars, turning numbers into tangible life. Today, I've shared 6 bloody insights, each corresponding to a lesson of 'almost getting out'.

First, from 1 million to 2 million in debt: that wave of 'sharp rise, slow decline' washing out taught me 'not to cut losses at the bottom'.

I will never forget the summer of 2018.

At that time, ETH surged from $800 to $1,200; I put in 500,000 and made a floating profit of 1 million in just 3 days, feeling like I was 'the chosen one', even my friends were posting 'crypto legends'. But soon after, ETH began to slowly decline: 1100, 1050, 1000... dropping a little each day, but always hovering near the 'support level', while the 'experts' in the group shouted 'it's broken down, hurry and sell'.

I panicked, sold half at $950, and the rest at $850; my 500,000 principal turned into 100,000. Even more foolishly, I didn't accept it and added 5 times leverage to short, only for ETH to consolidate at $800 for half a month before suddenly surging back to $1,100 — I got liquidated! Not only did I lose the remaining 100,000, but I also owed the platform 2 million.

Only later did I understand that this is a typical 'sharp rise, slow decline': after the main force pushes up, they slowly let it drop, not distributing, but washing out. They wait for retail investors to panic and cut losses, so they can pick up chips at a low position. What does a real top look like? It's like LUNA in 2021, surging to $119, then crashing to $0.0001 within 48 hours — that was a 'trap for greedy buyers'.

Key Rule 1: If there's a sharp rise followed by a slow decline, don't rush to cut your losses — check the trading volume; as long as there's no large volume sell-off, it's likely just a washout. But if there's a sudden waterfall drop after a big surge, even if you lose 10%, you should run; that's the main force 'closing the door and beating the dog.'

Second, relying on a 50,000 loan to turn my life around: the trap of 'sharp declines followed by slow increases' hides the loss password of 90% of retail investors.

In March 2020, I carried 2 million in debt and couldn't even afford cigarettes. My parents secretly gave me a card saying, 'this 50,000 is for retirement, don't squander it' — but I knew, without taking a risk, I would never turn my life around.

At that time, BTC had just experienced the '312 crash', dropping from $8,000 to $3,800, and then began to slowly rebound: 4000, 4500, 5000... The group was filled with voices saying 'catch the bottom', with some saying 'it's bottomed, hurry and go all in'. But I watched the candlesticks for 3 days and found that this rebound had 'shrinking volume' — increasing 5% daily, but trading volume was only 1/3 of the crash volume.

This is the trap of 'sharp declines followed by slow increases': after a crash, a slow rebound may seem like 'stabilizing', but in reality, the main force is 'selling while bouncing'. It's like a person falling from the 10th floor; if they sway on the 3rd floor, you might think they can stand, but the next second, they could fall to the ground.

I held off entering until BTC dropped to $3,800 and consolidated, with trading volume increasing for 5 consecutive days (each day 20% more than the previous day), then I dared to buy 1 BTC for $50,000. Later, when BTC surged to $60,000, that $50,000 turned into $800,000 — this was my first bucket of gold that helped me turn around.

Key Rule 2: Don't rush to catch the bottom after a crash, especially during 'slow rebounds with shrinking volume', which could be a prelude to 'the final blow'; wait for a sudden increase in volume after a period of consolidation — that's when you've truly seen the bottom.

Third, the secret of having two houses and a car: understanding 'volume' reveals the main force's bottom cards.

Many people ask me 'when should I sell?' In fact, the answer is all in the 'trading volume'.

In 2021, when I bought my first house, it was based on BTC's 'top volume'. At that time, BTC surged to $58,000, and the trading volume was three times the usual amount. People in the group were saying 'it's going to break $60,000', but I remembered 'top volume does not necessarily mean it's the peak; lack of volume is what truly indicates a downturn' — the main force was changing hands at high levels; as long as someone is picking up shares, there could be a second wave.

Sure enough, BTC surged to $61,000. I sold half at $59,000, and the profit was just enough for a down payment. But a week later, BTC suddenly dropped in volume: the trading volume that day was only half of the previous day, yet the price rose by 2% (a typical 'low-volume increase'). I quickly liquidated the remaining position — 3 days later, BTC plummeted to $42,000.

When I bought my second house, it was based on 'bottom volume'. In 2022, when ETH dropped to $880, a single bullish candle rose 10%, and the trading volume exploded, but I didn't act — it could be a 'false signal'. It wasn't until it consolidated for 20 days with shrinking volume and then suddenly had 3 days of gentle increases in volume (10% increase in daily trading volume) that I entered, ultimately taking profit at $1,800, earning enough for my second house.

Key Rule 3: If there's a blow-off top, don't panic and run; there might be a second wave; but a low-volume rise is like a 'ghost town', you must withdraw immediately. A single high-volume spike at the bottom shouldn't trigger impulsiveness; wait for a series of gentle increases in volume to confirm that the main force is building a position.

Fourth, the most profound insight after 10 years of trading cryptocurrencies: mindset is hidden in 'volume'; candlestick patterns are just results.

Many people focus on candlestick patterns every day, but don't realize that candlesticks are the 'effect', while volume is the 'cause' — it's like watching a movie only for the ending, without understanding the plot; you'll never grasp it.

In 2023, SOL dropped from $100 to $60; some people around me cut losses, some averaged down, while I focused on volume: daily trading volume dropped from 500 million to 200 million (shrinking volume), indicating 'no one is playing anymore'; it wasn't a washout or distribution, just 'temporarily no market activity'. I chose 'not to operate' until it surged to $70, at which point I entered.

Why? Because 'shrinking volume = cooling emotions'; buying or selling at that point is just gambling. 'Exploding volume = funds entering'; when emotions rise, the trend becomes clear. It's like a bar; when no one is there, you don't know when it will get lively; but when a bunch of people suddenly arrive, even if there's no music for a moment, the dancing is about to start.

Key Rule 4: Don't just look at the candlestick rise and fall; first check 'is there anyone trading?' — volume is the electrocardiogram of market emotions; hold your hands when volume shrinks, and act when it expands.

Fifth, from 'loaning 50,000' to '7 figures': the most powerful skill is 'nothingness'.

What I am most grateful for in these 10 years is not how much money I've made, but that I've learned 'to have no obsession'.

In 2021, while everyone was chasing SHIB, my BTC only rose by 5%, but I knew 'not to chase the surges' — those coins that increase by 10 times can make you indebted by 10 times when they fall.

In the 2022 bear market, when ETH dropped to $900, people around me were panicking and selling, but I dared to average down — 'not panicking' isn't foolish; it's understanding that 'it's bottomed out'.

This year, both SOL and ADA are rising, but I only bought the familiar ETH — 'no obsession' is not about being indifferent, it's knowing where your capability lies.

There's a rule in the market: the more you want to 'get rich quick', the easier it is to lose; the more you want to 'make a guaranteed profit', the further you actually go. Every time I make money, I first withdraw 30% (for example, earning 100,000, I withdraw 30,000 to buy cherries and take my parents on a trip), and then reinvest the rest — money in your pocket is truly yours; numbers in the account, however pretty, belong to the platform until you withdraw.

Key Rule 5: No obsession; if it's time to short, then short; if it's time to go long, then go long; don't be greedy, don't reach for coins that are surging; don't panic, and be brave when they've dropped significantly. Withdrawing funds to buy a house and a car to enjoy life is the true purpose of trading cryptocurrencies.

Finally, let me say something from the heart: I'm just one step away from 8 figures, but I'm not in a hurry.

Some say 'you're just one step away from hitting 8 figures, why not invest a bit more?', but I remember the days in 2018 when I was 2 million in debt — back then, I thought 'earning 1 million would turn my life around', but later realized 'holding onto 1 million is harder than earning 1 million.'

The crypto market is not short of opportunities; what's lacking is the patience to 'stay alive to wait for opportunities'. I've seen too many people win in the market and lose in their mindset: when prices rise, they want to earn more; when they drop, they want to recover, ultimately turning 'numbers' into 'debt'.

If you're also trading cryptocurrencies, remember: don't treat it like a 'gambling table', treat it as a 'craft' — like an old carpenter crafting furniture, slowly honing, carefully watching; the final product will be both sturdy and a family heirloom.

Let's discuss in the comments: what was your worst loss while trading cryptocurrencies? How did you turn it around? Share your experiences, and let's gather insights together. Follow me, and next time we'll talk about 'the art of withdrawing funds' — when to cash out for a house, and when to keep rolling over your assets, there's a lot to learn here.