Looking at the numbers in my account, I often think of those late nights staring at the market. There are no shortcuts in the crypto world; the only secret is: survive long.
Last night at the dinner party, someone with red eyes asked me: 'In your ten years in the crypto world, did you really earn money or are you just bragging?' I smiled and said nothing, directly showing the screenshot of my mobile account. When they saw the eight-digit balance, the whole table suddenly fell silent.
No one knows that in 2017, I almost got completely eliminated by this market. Back then, I was also a naive newcomer who rushed in listening to stories of 'getting rich overnight,' going all in at the peak of the bull market, only to have my account wiped out when the crash came. Suddenly, even the rent for the next month became a problem.
Since then, I have completely awakened—I realized that what matters in the crypto world is not who earns quickly, but who lives longer.
Step 1: Start with a small investment and always leave enough ammunition.
In early 2021, Bitcoin was surging, and many around me shouted, 'If you don’t get on board, you’ll miss out on a lifetime.' I had 500,000 in my account but only took 150,000 to enter the market.
The most fatal illusion in the crypto world is thinking that the opportunity is the last one. In fact, there are always opportunities in the market; what is lacking is not the opportunities but the capital to seize them.
I always adhere to a bottom line: no single investment exceeds 30% of the total funds. The remaining 350,000 is not just lying idle in the account; it is my 'safety cushion.' This allows me to maintain a stable mindset during sharp declines and avoid making wrong decisions out of panic.
Step 2: The more it drops, the calmer you should be; treat panic as an opportunity.
In May 2021, the market underwent a significant correction, with Bitcoin dropping over 20% in a single day. There was a chorus of wailing in various groups, with many cutting losses and exiting.
I opened the candlestick chart and started to add to my position according to plan: for every 10% drop in price, I would add 50,000. My hand did shake a bit during the first buy-in; by the second buy-in, my mindset was much calmer.
Buying in batches during market panic is an effective way to lower average costs. What others see as a crisis is, for me, an opportunity to accumulate at low prices. This is not some profound theory, but the most basic form of contrarian thinking.
Step 3: Once the trend is clear, increase your position one last time.
It wasn't until July 2021, when the market stabilized and Bitcoin regained key support levels, that I invested the remaining 150,000. Not relying on feelings, not gambling on luck, but only looking at whether the trend is established.
A friend laughed at me for being too conservative: 'By the time the trend is clear, others have already eaten all the meat.' I replied, 'I would rather eat the leftover meat than be the meat in someone else's bowl.'
The biggest trap in the cryptocurrency world is treating luck as skill. Those who proclaim themselves as 'stock gods' during a bull market often suffer the most during a bear market.
My survival rule in the crypto world.
Over the years, I have summarized three heartfelt truths:
1. Capital is like oxygen; you don’t feel it when you have it, but you realize its importance when it’s gone.
Many people pursue high leverage, dreaming of doubling their investment overnight. But they forget that high leverage equals high risk; once the market moves against them, they may face huge losses or even liquidation. I've seen someone lose 8 million in one night, while I'm just an ordinary person wanting stable profits.
2. Emotional management is more important than technical analysis.
The crypto world operates 24/7 without rest, and even a slight disturbance can trigger severe volatility. I have seen too many who are good at technical analysis eventually defeated by their own greed and fear.
Successful investing requires not only knowledge but also good mindset and emotional management skills.
3. Living longer makes you the real winner.
A day in the crypto world is equivalent to ten years in human life. This industry is not short of stars, but lacks longevity.
He Yi transitioned from OKcoin to Binance, experiencing multiple market cycles, ultimately becoming the 'queen of the crypto world.' Her success was not based on gambling repeatedly, but on a deep understanding of the industry and persistence.
Now the market is restless again, and newcomers flock in, listening to wealth stories. I still use the method that has been laughed at as 'foolish,' avoiding all-in bets, not chasing prices, and patiently waiting for the trend.
In this market with so many smart people, I prefer to be a bit foolish and slow, because stability and survival rate are key. Behind an eight-figure account is eight years of discipline. This is not the most exciting way to play, but it allows me the most peace of mind at night.
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