That night, I was scrolling through the Binance Square when I suddenly saw a lot of people talking about a token called GTC. At the time, its price was only 0.11 USDT, and it had dropped by nearly twenty percent in 24 hours. The comments section was full of cries of despair—everyone said the coin was finished, that the project team had run away.
My name is Li Hao. I’m a programmer in Shenzhen, earning twenty thousand RMB a month. Every month I set aside five thousand to trade crypto. I’d made a profit from ETH before, so my courage grew. Seeing GTC fall like this, what I told myself was that since the coin’s market cap was so small, any good news could easily double it.
I opened the contracts interface, selected the GTC perpetual contract, cranked the leverage up to 20x, and went all-in on a long position. At that moment, GTC was trading at 0.112. I put in 8,000 USDT—my actual position value was 160,000. I calculated that if it rose by just 5%, I’d make 8,000.
After I placed the order, I even posted a Square update: “The bottom has been confirmed; GTC will be at 0.5 by the end of the month.” Under the post there were a dozen-plus comments—some said, “Brother, be brave,” and some said, “Just wait to watch you get liquidated.”
On the first day, GTC climbed from 0.112 to 0.125. I was up over 10,000, and I felt great, convinced my judgment was right. On the second day, it jumped to 0.14. I was up 30,000 and started fantasizing that this coin was really about to take off.
At 3:00 a.m. on the third day, my phone vibrated and woke me up. I checked it—GTC had crashed to 0.105. My margin ratio was already down to eight percent. I panicked. I hurriedly tried to add margin, but bank transfers wouldn’t go through at that hour.
I watched the price keep falling from 0.105—0.103, 0.101, 0.099. A notification popped up on my screen: Your position had been liquidated.
In that instant, I was completely stunned. 8,000 USDT—the two months of wages I’d saved—gone.
Lying in bed staring at the ceiling, my mind replayed what I’d done over those three days. If I had only used 5x leverage, I’d still be making money. If I hadn’t gone all-in, I would have had funds to add margin. And if I hadn’t posted that update, maybe I wouldn’t have been swept up by emotions.
The next morning, I opened Binance and checked—GTC’s price had actually climbed back again, now at 0.18 USDT, sixty percent higher than when I opened my position. If I hadn’t gotten liquidated, if I’d held on through it, I’d be up 48,000 right now.
But the market never has “if.”
Later, I withdrew all the money from my contract account, leaving only spot holdings. I set rules for myself: I’ll never touch 20x leverage again, and I’ll never go all-in on a single coin.
That 8,000 was the most expensive tuition I ever paid.
#GTC #合约爆仓 #cryptocurrency
My name is Li Hao. I’m a programmer in Shenzhen, earning twenty thousand RMB a month. Every month I set aside five thousand to trade crypto. I’d made a profit from ETH before, so my courage grew. Seeing GTC fall like this, what I told myself was that since the coin’s market cap was so small, any good news could easily double it.
I opened the contracts interface, selected the GTC perpetual contract, cranked the leverage up to 20x, and went all-in on a long position. At that moment, GTC was trading at 0.112. I put in 8,000 USDT—my actual position value was 160,000. I calculated that if it rose by just 5%, I’d make 8,000.
After I placed the order, I even posted a Square update: “The bottom has been confirmed; GTC will be at 0.5 by the end of the month.” Under the post there were a dozen-plus comments—some said, “Brother, be brave,” and some said, “Just wait to watch you get liquidated.”
On the first day, GTC climbed from 0.112 to 0.125. I was up over 10,000, and I felt great, convinced my judgment was right. On the second day, it jumped to 0.14. I was up 30,000 and started fantasizing that this coin was really about to take off.
At 3:00 a.m. on the third day, my phone vibrated and woke me up. I checked it—GTC had crashed to 0.105. My margin ratio was already down to eight percent. I panicked. I hurriedly tried to add margin, but bank transfers wouldn’t go through at that hour.
I watched the price keep falling from 0.105—0.103, 0.101, 0.099. A notification popped up on my screen: Your position had been liquidated.
In that instant, I was completely stunned. 8,000 USDT—the two months of wages I’d saved—gone.
Lying in bed staring at the ceiling, my mind replayed what I’d done over those three days. If I had only used 5x leverage, I’d still be making money. If I hadn’t gone all-in, I would have had funds to add margin. And if I hadn’t posted that update, maybe I wouldn’t have been swept up by emotions.
The next morning, I opened Binance and checked—GTC’s price had actually climbed back again, now at 0.18 USDT, sixty percent higher than when I opened my position. If I hadn’t gotten liquidated, if I’d held on through it, I’d be up 48,000 right now.
But the market never has “if.”
Later, I withdrew all the money from my contract account, leaving only spot holdings. I set rules for myself: I’ll never touch 20x leverage again, and I’ll never go all-in on a single coin.
That 8,000 was the most expensive tuition I ever paid.
#GTC #合约爆仓 #cryptocurrency