At the beginning of 2024, I stepped into the world of cryptocurrency with curiosity about new things and hopes for wealth appreciation. At that time, Bitcoin ETFs had just been approved, and the entire crypto market seemed to be brimming with excitement and anticipation. I began learning the basics of various cryptocurrencies, understanding that Bitcoin is digital gold, Ethereum is a smart contract platform, and there are all sorts of bizarre Memecoins.
In March, the price of Bitcoin continued to rise, breaking through $70,000 and reaching a historical high for the past three years. Watching the price keep climbing made me both excited and nervous, regretting not entering the market sooner. In April, Bitcoin experienced a halving event, which felt like a grand industry celebration, with everyone discussing the long-term impact of the halving on Bitcoin's price. At the same time, the listing of virtual asset spot ETFs in Hong Kong opened my eyes to the different attitudes and explorations of cryptocurrencies in various regions. In May, Ethereum's spot ETF miraculously survived, making me realize that this market is full of surprises. The wealth-generating effect of Memecoins left me speechless, such as Fartcoin's rapid valuation increase and the Patriot token soaring 626% in a week.
In June, the crypto market experienced the '6.18 shock', with Bitcoin falling below $65,000 and altcoins also declining sharply. I finally understood how enormous the risks in this market are, and my assets also shrank during this fluctuation. In July, the market faced another washout, with Bitcoin dropping below $60,000. Watching the numbers in my account decrease was disheartening, and I deeply felt the brutality of the cryptocurrency market. Moreover, this year saw frequent hacking incidents, and DeFi security issues received significant attention, making me especially cautious when trading and storing assets.
After experiencing the ups and downs of the market, I began to delve deeper into learning about cryptocurrencies. I learned that blockchain technology is the underlying support for cryptocurrencies and understood concepts like smart contracts and decentralized finance. I also learned how to view blockchain explorers, analyze transaction data, and use various cryptocurrency tools. At the same time, I joined some cryptocurrency communities to exchange experiences with other enthusiasts and learned many practical skills and investment strategies from them.
By the end of 2024, I watched Bitcoin break through $100,000, with the market cap swelling by nearly $1.7 trillion, feeling a mix of emotions. This year in the cryptocurrency space brought both gains and losses for me. I am well aware that this field is filled with opportunities, but it also comes with significant risks. In the future, I hope to approach cryptocurrency investments more rationally and move steadily in this challenging and opportunity-filled market.
