Earned 12 million in the last bull market.
Let me share my experience of earning my first bucket of gold in the crypto space.
Born in '95, graduated from university in '18, worked in Shenzhen, and entered the crypto space in early 2020.
Currently, I own a house in Shenzhen, no car, no luxury spending, and most of my assets are in exchanges.
I originally did e-commerce in Shenzhen, with an income of 20,000 to 30,000 per month and expenses over 10,000, allowing me to save about 10,000 to 20,000 each month. Like many 'migrant workers' in Shenzhen, I also wanted to buy a house there.
However, with this level of income, saving for a down payment feels like it will take forever; my work income has bottlenecks, and it’s hard for salaries to rise.
It wasn't until I got involved in the crypto space that I realized I could use the leverage of virtual currencies to multiply my assets!
I was quite lucky; when I entered the crypto space, it happened to be at the beginning of a bull market. I put most of my savings into digital currencies, heavily investing in ETH, along with a small amount of BTC and some miscellaneous altcoins.
After several major corrections, I over-leveraged and then didn’t operate much. During the 519 crash, I didn’t run away but added to some promising altcoins.
Until November 2021, when Bitcoin broke its historical high of 69,000 USD, the market sentiment was very high, and many believed it would break 100,000 USD, but in fact, 69,000 was the peak of this bull market.
By the end of November, I saw the market trend weakening, deduced that the bull market was likely over, and cleared most of my positions. At that time, Bitcoin was around 58,000, and Ethereum was around 4,400.
It has proven to be a very wise choice, while some retail investors with 'bullish fantasies', shouting 'eternal bull markets', and clinging to 'tail-end trends' are now stuck in losses.
After the bull market in 2021 ended, my funding account had about 12 million RMB.
I took out 4 million for the down payment, bought a house in Shenzhen (after graduating, I transferred my household registration to Shenzhen, and after three years of social security payments, I qualified to buy a house), cashed out 2 million for daily use, and left the remaining 6 million in the exchange.
Summarizing my advantages:
1. Relatively more capital, with continuous cash flow support.
2. Appropriate entry timing and buy/sell points.
3. Only trade when certainty is high, reduce trading frequency.
4. Do not use contract leverage, do not borrow, maintain a good mindset.
In the cryptocurrency market, profits come from cycles; the timing of entry, entry and exit points, project selection, position allocation, and capital, among other factors, will affect your profits.
If you want to seize this bull market, it's definitely too late to learn and sell at the same time; it's best if someone can quickly guide you in.
I mainly focus on fresh content as a blogger.
It’s better to teach a person to fish than to give them a fish.
Still, that’s the point: if you don’t know what to do in a bull market, click on my profile, follow me, for bull market spot planning, contract passwords, and free sharing.
I need fans; you need references. Guessing is not as good as following.
