Millions of dreams shattered. In just three months, with an initial $10,000, I almost realized the dream of becoming a millionaire, only to see it vanish overnight.
During my student days, I stepped into the cryptocurrency market, drawn in by a certain exchange's USDT savings product offering a 10% annual return. So, I entered this market with $2,000, initially hoping to earn some small profits.
My first attempt at shorting a niche cryptocurrency yielded over $200 in profit upon waking up, far exceeding the annual interest from the savings product. I gradually became addicted to the market, spending most of my time researching candlestick charts, technical indicators, and market news. I adopted a 10x leverage trading strategy with a 25% position and discovered a unique trading method: by observing my friend's trading movements and using his failures as signals for my success. With about a 90% win rate, my funds quickly grew to $6,000.
Despite being well aware of the risks involved in contract trading and planning to exit once I made $10,000 to focus on spot investment, an unexpected liquidation event occurred just as I was about to reach my goal, unexpectedly netting me nearly $60,000. I withdrew my initial capital and indulged a bit.
However, just when I confidently believed the market was about to bottom out and was preparing to buy in, misfortune quietly struck. My $60,000 quickly shrank to less than $40,000. Although I kept increasing my position to fight back, I ultimately lost everything. After another sharp market drop, it quickly rebounded. Had I been patient, that initial $10,000 could have grown to 1.5 million yuan.
I originally thought my capital was safe, but like a gambler, I pledged my newly bought phone and laptop, only to end up with nothing. At that moment, I felt lost and desperate. After going through all this, I deeply understood the risks of investing and the importance of self-discipline.
The above story comes from a submission by a long-time follower. I also wish all you retail investors can reach the shore soon, may everything go smoothly for you, and may you earn the numbers you dream of!
Give a follow, like it up, do you have friends around you who are 'high' on cryptocurrencies? Come share their stories in the comments section.
