I made 12 million in the last bull market.
Let me share my personal experience of making my first pot of gold in the crypto space.
Male, born in 1995, graduated from university in 2018, started working in Shenzhen, and entered the crypto space in early 2020.
Currently, I have a house in Shenzhen, no car, no luxury spending, and most of my assets are in exchanges.
I originally worked in e-commerce in Shenzhen, earning about 20,000 to 30,000 a month, with monthly expenses over 10,000, saving about 10,000 to 20,000 each month. Like many 'Shenzhen drifters,' I also wanted to buy a house in Shenzhen.
However, with this level of income, saving for a down payment feels like it will take forever; job income has bottlenecks, and it's very hard for salaries to increase.
It wasn't until I got involved in the crypto space that I realized I could leverage virtual currencies to multiply my assets!
I was relatively lucky; I entered the crypto space just as the early stages of a bull market began, putting most of my savings into digital currencies, heavily investing in ETH, along with a small amount of BTC and some miscellaneous altcoins.
I over-leveraged during several major corrections and then hardly traded anymore; I didn't sell during the major drop on May 19 and even added to some promising altcoins.
Until November 2021, Bitcoin broke its historical high of $69,000. At that time, market sentiment was very high, and many believed it would break $100,000, but in fact, $69,000 was the peak of this bull market.
By the end of November, I noticed the overall market trend weakening and inferred that the bull market was likely over, so I cleared most of my holdings. At that time, Bitcoin was around $58,000, and Ethereum was around $4,400.
It has been proven that this was a very wise choice, while some retail investors with 'bullish fantasies' shouting 'eternal bull market' and clinging to 'tail-end trends' have now been stuck and confused.
After the bull market in 2021 ended, my fund account had about 12 million+ RMB.
I took out 4 million for a down payment to buy a house in Shenzhen (after I graduated, I transferred my household registration to Shenzhen; after three years of social security payments, I qualified to purchase a house), 2 million for daily use, and left the remaining 6 million in the exchange.
To summarize my advantages:
1. Relatively large principal, with continuous cash flow support.
2. Appropriate entry timing and buy/sell points.
3. Only trade when there is high certainty, reduce trading frequency.
4. Do not use contract leverage, do not borrow, maintain a good mindset.
Money in the cryptocurrency market is earned through cycles; factors such as entry timing, buy/sell points, project selection, position allocation, and capital will all affect your profitability.
Investors in the crypto space, whether beginners or experts, gain not only financial returns from me but also growth in investment knowledge and experience.
Daily focus: REZ XRP SUI