Based on my own experience, divided into four stages over time

First stage (2016-2017). Ignorance is fearless, making money to the point of losing sanity. Entered the cryptocurrency world in 2016 (started hearing about it in 2013), caught the bull market in 2017, starting capital of 100,000, peaked over 10 million. Two cryptocurrencies left a deep impression: one is GXChain (gxs), 2 BTC + participated in a private placement, at the time BTC was 6000 each, the opening was 3 million. The other is Antshares (later renamed NEO+), bought 10,000 coins at 1 each, peaked at over 1000, which means a single coin over 10 million. Then I became complacent, feeling invincible, thinking to set a small goal, first earn 100 million, and once I earn that, I would stop. Then... then it became a story of "a person filled with desire, feeling invincible, being taught a lesson by the market, left battered and bruised" 跟这个单赚麻了回撤小赚得多

Second stage (2018-2019). Reflecting on myself, starting anew. In 2018, the market entered a downward cycle, looking at my hands full of altcoins and a hopeless future, my mood hit rock bottom, I would scold myself as an idiot every day. But the market won't open a back door because of your suffering. So this stage was more about self-reflection and understanding the market. After a period of adjustment, I realized two truths. First, no one is better than anyone else; we are all ordinary people. The reason I made money in 2017 wasn’t because I was great, it was simply because the market was too good, I was lucky enough to be on the right side of the trend; to put it simply, I was a pig on the wind, taking off was inevitable. The second was about capital management. Small capital has its own way of playing, and large capital has its own way of playing; you can't use small capital thinking to play with large capital, otherwise, you will suffer greatly. After understanding this, I collected my thoughts and started a new distribution of my chips, clearing most of the altcoins and replacing them with BTC, ETH + and USDT.

Third stage (2020-2021). Reasonable allocation, timely profit-taking. After experiencing a complete bull and bear cycle, my mindset became much more peaceful. Additionally, the cryptocurrency market entered an upward cycle again, so my assets started to appreciate continuously. At this time, what I did more was actually profit-taking and continuous reallocation.