In the hot summer of 2017, I was in a small, dimly-lit rented room in a village in the city, eating instant noodles while casually scrolling through my phone. Suddenly, a push notification caught my eye: 'Bitcoin breaks 20,000 USD!' At that time, I had only a vague understanding of financial knowledge. Looking at the fluctuating K-line chart on the screen, I felt curious, never realizing that this seemingly random piece of information would throw a massive stone into the calm lake, stirring up waves and completely rewriting the trajectory of my life.
At that time, I worked in a small company as an administrative staff member, earning a meager salary of four thousand a month, living an ordinary and predictable life. Every day was the same, commuting between my rented room and the office, the days were as bland as water. My bank balance was pitifully low, and whenever I thought about buying a decent gift for my then-girlfriend, I had to weigh and hesitate repeatedly. The news of Bitcoin's price surge was like a light shining into my dark life, igniting a glimmer of hope for wealth in this young man who longed to change his situation.
With a mindset of giving it a try, I gritted my teeth and exchanged my hard-earned two thousand yuan salary, which I had saved for half a year, all into Bitcoin. In the first few days after buying, I was eagerly looking forward to the price skyrocketing, but reality dealt me a heavy blow. On the third day, Bitcoin's price plummeted by 15% without warning. Watching the shrinking numbers in my account, my heart dropped to my throat, and I became flustered and anxious, losing sleep over it. Those days, I was restless, constantly debating whether to cut my losses and exit. Each time I checked my account, I felt my heart tighten painfully.
Fortunately, just when I was about to be overwhelmed by fear and anxiety, ready to cut my losses, an unexpected opportunity changed my situation. I inadvertently joined a cryptocurrency community. When I first entered the group, faced with all the professional jargon and heated discussions, I was completely lost and could only lurk silently. However, there was an expert with the ID 'On-Chain Prophet' who often shared in-depth analyses of various currencies. He explained the applications of smart contracts, developer ecosystems, and other professional knowledge in simple terms, allowing me to gradually realize the immense potential behind blockchain technology and opened a new door of understanding for me.
Under the influence of the 'On-Chain Prophet', I no longer panic blindly; instead, I began to calmly study various cryptocurrencies. After a period of learning and observation, I set my sights on Ethereum. At that time, Ethereum's smart contract technology was unique in the blockchain field, attracting the attention of many developers, and its ecosystem was continuously expanding. The more I researched, the more I felt that Ethereum had a broad prospect. Eventually, I bit the bullet, kept it a secret from my family, and not only invested all my remaining savings into Ethereum but also borrowed fifty thousand yuan, betting it all in this unknown adventure.
It seemed that fate began to favor me at that moment. By the end of 2017, the cryptocurrency circle迎来了疯狂牛市。比特币价格一路狂飙，成功冲上 2 万美金的高位，而我重仓持有的以太坊，更是像搭载了火箭一般，势不可挡。短短三个月，价格就翻了十倍。当我登录交易账户，看到资产突破百万的那一刻，我整个人都呆在了原地，不敢相信自己的眼睛。那一瞬间，我感觉呼吸都停止了，随后，抑制不住的狂喜涌上心头，我在狭小的出租屋里，对着电脑屏幕，像个疯子一样放声大笑。
Since then, my friends began to look at me with new eyes, calling me a 'cryptocurrency expert,' and praises and envy flowed endlessly. But I knew deep down that it was merely luck; I was still just a novice in the cryptocurrency circle and had so much more to learn. I was not dazed by the sudden wealth but worked even harder to delve into cryptocurrency knowledge, spending a lot of time in forums and communities every day, reading various project white papers, learning technical analysis methods, and studying market trends.
What truly allowed me to leap from a million to fifty million in wealth was the DeFi craze that swept through the cryptocurrency circle in 2020. At that time, the concept of decentralized finance emerged, quickly igniting the enthusiasm of the entire market. DeFi projects attracted countless investors with their characteristics of not requiring third-party trust, being efficient and convenient, and various DeFi projects sprang up like mushrooms after rain.
When the DeFi craze first emerged, I quickly sensed the enormous opportunities it contained due to my previous experience and keen market intuition. I immersed myself in various forums and communities every day, meticulously studying the white papers of every DeFi project. I conducted in-depth and detailed analyses of the project's technical architecture, team background, economic model, and application scenarios. After filtering out several promising projects, I acted decisively. I remember when I invested in my first DeFi project, I almost staked all the funds I could access at that time; it was my first time taking such a bold risk. During that period, I was highly tense, sleeping only three to four hours a day, constantly monitoring the market, and not daring to take my eyes off the computer screen for fear of missing any key information.
Fortunately, my judgment was correct. Within a week after the project launched, the token price skyrocketed like it was on a helicopter, increasing by a hundred times. Watching the numbers in my account continuously rise, I was so excited that my hands trembled. When the price reached its peak, I decisively cashed out, and this transaction successfully pushed my account balance over fifty million. At that moment, I knew I had completely changed my fate, making a stunning transformation from an ordinary worker to a millionaire.
Reflecting on these years of struggles in the cryptocurrency circle, I have summarized the following valuable experiences:
Capital management is crucial: Always invest only with spare money; this is the bottom line for survival in the cryptocurrency circle. Never invest essential living funds, mortgage payments, or other important money into the cryptocurrency market; otherwise, if faced with losses, it can lead to irreversible situations. Additionally, never operate with all your capital; always leave enough 'bullets' to cope with risks. The market is unpredictable; no one can accurately forecast the next moment's trend. Operating with all your capital exposes you to huge risks; if the market reverses, there will be no room for maneuver. I generally divide my capital into several portions and only use a small part for each investment, so even if one investment incurs losses, it won't significantly impact my overall assets.
Strictly setting stop-loss and take-profit points: In cryptocurrency trading, it is essential to set clear stop-loss and take-profit points. Stop-loss is meant to cut losses promptly when the market trend contradicts expectations, preventing further losses. For example, I usually set my stop-loss at 10% - 15%. Once the price drops into this range, no matter how reluctant I am, I will decisively sell to preserve the remaining capital. Take-profit, on the other hand, is to lock in profits and avoid losing gains due to greed. When the investment yield reaches my preset target, such as 50% or 100%, I will cash out without hesitation. It is important to know that in the cryptocurrency circle, greed and fear are the two major enemies of investment; only by overcoming them and strictly implementing stop-loss and take-profit strategies can one preserve victory amidst market fluctuations.
In-depth research on project fundamentals: Before investing in any coin or project, it is essential to conduct thorough research on its fundamentals. This includes whether the underlying technology of the project is advanced and innovative, whether team members possess rich industry experience and expertise, whether the market outlook for the project is broad, and what competitive advantages the project has within the industry. Taking Ethereum as an example, its smart contract technology has opened new doors for blockchain applications, attracting a large number of developers and building a massive ecosystem, which is its strong fundamental support. In contrast, projects that lack actual value and rely solely on hype, even if their prices soar in the short term, ultimately cannot escape the fate of going to zero. Therefore, one must not blindly invest simply because of price increases or market hotspots but must conduct comprehensive and in-depth understanding and analysis of the project.
Go with the trend without blindly bottom-fishing: The cryptocurrency market is highly volatile; once a trend is established, it tends to last for a while. In a bull market, one should firmly hold quality coins and not be easily intimidated by short-term corrections, as each correction in a bull market may present an opportunity to add positions. In a bear market, however, one should remain cautious and minimize operations, avoiding blind bottom-fishing. The rebounds in a bear market are often short-lived, enticing buyers; blindly bottom-fishing can easily lead to significant losses. For instance, during the bear market in 2018, Bitcoin's price fell from a high point, and many people kept trying to bottom-fish as prices dropped, leading to even greater losses. At that time, I chose to stay in cash and observe, patiently waiting for the market trend to reverse. Only when there were clear bottom signals in the market, such as prolonged price consolidation or extremely low trading volumes, did I gradually begin to enter the market.
Maintain independent thinking and avoid blindly following trends: The cryptocurrency circle is filled with complex information, with various rumors and expert predictions flying around. In such an environment, the ability to maintain independent thinking is particularly important. One should not blindly follow the crowd just because a big influencer recommends a particular coin or everyone in a community is hyping it up. Often, these messages may be driven by interests, and if you follow the trend blindly, you may end up being 'harvested.' Learn to filter and analyze various information, combine it with your own market judgments and research, and make independent investment decisions. For example, at the initial stage of some popular projects, the market may experience excessive hype, and prices may be severely overestimated. At this time, if you chase the high blindly, you can easily suffer significant losses when prices correct. Therefore, no matter how enthusiastic the market may be, maintain a clear mind and stick to your investment principles.
Continuous learning and keeping up with market changes: The cryptocurrency circle is a field filled with innovation and change, with new technologies, projects, and concepts emerging constantly. To maintain a long-standing position in this market, one must adopt a continuous learning attitude, constantly updating their knowledge base and keeping up with market changes. I spend a lot of time each day reading industry news, studying new projects and technologies, participating in various online and offline seminars and exchange activities, sharing experiences and exchanging views with peers. Only through continuous learning can one stay updated on market dynamics, seize new investment opportunities, and better cope with various risks and challenges. For example, with the continuous development of blockchain technology, emerging application scenarios such as NFTs and the metaverse have gradually arisen. Investors who can timely learn and understand these new technologies and trends often seize relevant investment opportunities at the first moment and reap substantial returns.
Control emotions and avoid emotional trading: The significant fluctuations in the cryptocurrency market can easily affect investors' emotions, leading them into greed and fear. When prices rise, some people may chase high due to greed, fantasizing that prices will keep rising, only to end up stuck at high positions; while when prices fall, they may hastily sell out of fear, missing out on subsequent rebound opportunities. Emotional trading is a major taboo in investing; it can cause one to lose the ability to make rational judgments and make wrong decisions. To avoid emotional trading, I establish a detailed trading plan before executing any trades, clarifying my investment goals, risk tolerance, and operational strategy. During the trading process, I strictly follow the plan, unaffected by market emotions. Even when the market experiences drastic fluctuations, I remind myself to stay calm and analyze the reasons for market changes, rather than blindly following the crowd. For instance, when panic selling occurs in the market, I first calm down to think about the true reasons for the price drop. If it is due to short-term market emotions while the project's fundamentals remain unchanged, I will choose to hold or take the opportunity to increase my position; conversely, if there are significant issues within the project itself, then I will consider selling.
Now, I used the money I earned in the cryptocurrency circle to start a technology company and live a stable and solid life. Looking back at those crazy years in the cryptocurrency world, I feel a deep sense of emotion. The cryptocurrency circle is like an adventure filled with excitement and challenges; it made me deeply realize the rapid accumulation and sudden evaporation of wealth, and it also taught me the importance of maintaining rationality, continuous learning, and strict risk control in the investment field. That experience was like a dazzling and thrilling dream; although it was full of uncertainty and risks, it also shaped who I am today. I know well that such opportunities and experiences are irreplaceable, and the experiences and lessons accumulated through struggles in the cryptocurrency circle will become my lifelong valuable wealth, constantly reminding me to maintain caution and reverence in future investments and life.
Turning the tide against the trend, with remarkable returns! Following Cheng Ge's rhythm, easily achieving a leap in wealth.
