These past few days have had those petty matters, one being the White House summit, another is a certain country raising taxes but having some leeway, and then there was the agreement on a ceasefire. Anyway, it's just manipulation at will; the market is swayed by a word or a policy from the United States. As someone who entered the cryptocurrency market relatively early in the country, I feel very sad. There was a time when we had over 80% market share, including the mining industry, and we had absolute discourse power. In this subtle sadness, I flipped through my old QQ statuses and previous moments on social media, finding things and screenshots from 2017 and 2018. Unfortunately, I couldn’t find any traces of the cryptocurrency world from 2016. Back then, the cryptocurrency world was really pure, even though there were significant fluctuations. Although I was ignorant at that time, it was simple; just holding it without talking could yield results. Now, the cryptocurrency market has become dominated by institutions, and it has even escalated to a competition between nations. Retail investors like us have no business in this; we are just farmed leeks and are no longer treated as people.
The events of 94 in 2017 are still fresh in my memory. At that time, I invested 100,000 RMB in the cryptocurrency market, and I remember it clearly. Actually, I didn’t sell during the 94 incident, but later a policy came out to drive all exchanges out of mainland China. All exchanges sent notifications for us to withdraw our coins as they were going overseas. If we continued using their exchanges, we would have to go through VPNs and such. At that time, I was naive and didn’t understand or want to learn, feeling it was so troublesome. Moreover, over 80% of mainland users were barred from participating; going abroad had no future. Under this mindset, I sold at a loss. Another good friend of mine, whom I brought into the cryptocurrency world, said that the word 'sell at a loss' does not exist in his dictionary; he would rather go to zero. This is his exact words, and I will remember this for a lifetime. The reason I can remember it forever is that he also entered with a position of 100,000, and after a couple of months, it increased over 30 times, and some even went to zero; otherwise, there would have been more. Looking back now, it was really just a moment of thought. At that time, my partner said, 'Since it has dropped so much, just hold on. If you believe in it and think it’s good, just keep it. If you lose it, you lose it.' How to put it, it really was a moment of heaven!
Regarding the current market trend, my personal opinion is that despite the criticisms, I don’t see a bear market that exaggerated. I think there’s still another wave. When this wave will arrive and how high it can go is unclear, but whether we can endure it is really hard to say. If I don’t urgently need money or don’t have better investments, I will continue to hold my spot without moving, quietly waiting for the flowers to bloom!
