I entered the market in 2013 when Bitcoin was only a few hundred dollars. Over the past ten years, I've seen too many ups and downs, and today I want to share my honest thoughts with you.
1. What have I experienced in these ten years
I remember back in 2017, ICOs were all the rage. I also followed the trend and invested in a few projects, and what happened? 90% went to zero. The worst one, the project team was sending red packets in the Telegram group before they ran off, and the next day, they were gone.
In the summer of 2020 DeFi, I was mining like crazy. An annual return of 1000% looked really appealing, but impermanent loss ate away more than half of my principal. Later, I realized it would have been better to just hold onto BTC.
On the day LUNA collapsed, I watched a friend go from millions to debt. He had told me before, 'Algorithmic stablecoins are the future', and now I can't even get in touch with him.
2. Why is 'buying in a bear market and selling in a bull market' the most reliable?
Did you know? I've compiled the data from the past ten years:
- Every time from the bottom of a bear market to the peak of a bull market, BTC at least increases five times
- ETH at least increased by 8 times
- Even platform coins like BNB start at least 10 times
But the problem is, 90% of people can't do it. Why? Because of human nature!
In a bear market, Bitcoin drops to the point where no one wants it. I told my friend in 2018 that it could be bought, and they replied, 'This thing is going to zero, why buy it?' And what happened? Two years later, it rose more than ten times.
It's even funnier in a bull market. The higher the price, the more people buy, fearing they might miss out on getting rich. I've seen the most outrageous case in 2021 when Bitcoin was $60,000, a guy sold his house and went all in.
3. How I operate
Stocking up in a bear market:
- Just focus on buying BTC and ETH
- Buy a little every month when you get paid, like buying groceries
- The lower the price, the more you buy
- Absolutely don't touch those flashy altcoins
Selling in a bull market:
- Wait until the market aunties start discussing Bitcoin
- Sell slowly in batches
- Cash out as soon as you sell, absolutely don’t get attached
4. A bloody lesson
First, never touch contracts. I know people who play with contracts, and not one has a good outcome. One guy used 20x leverage to go long and deleted his account and left the group on the day he was liquidated.
Second, altcoins are all traps. Every bull market has a bunch of '10,000x coins', but very few survive. If you're really good, just buy a lottery ticket; the odds of winning might be higher.
Third, you must cash out. I've seen too many people who made millions on paper but ended up giving it all back. Remember: money that isn't cashed out isn't yours.
5. Advice for newcomers
If you're just entering the market now:
1. First, buy some BTC with a small amount of money
2. Delete the trading software
3. Wait three years and then look back
Don't spend all day staring at the K-line, it's useless. My ten years of experience tell you that the simpler the method, the more money you make. Those who analyze technology every day end up losing everything.
Finally, let me say something from the heart
In the cryptocurrency world, the few always make money. Why? Because most people always think they are smarter than the market. In fact, being a bit foolish and a bit dumb can actually help you make money.
Remember: buy in a bear market, sell in a bull market. Just these six words have been worth my ten years of youth.
I am @老顾财经 , skilled in short to medium-term contract trading, sharing investment tips daily, detailed strategy teaching, for contract and spot projects, contact @老顾财经