35 years old, maintenance worker, has been trading cryptocurrencies for 7 years
I started to speculate in cryptocurrencies at the end of 2013. At that time, I saw a report saying that BTC had risen to 400 yuan, so I went to research it. The first one I bought was a well-known altcoin at the time. I was afraid to buy it at the time, so I only recharged 100 yuan and bought 10 yuan. As a result, it increased tenfold within three days, so I withdrew the money through Alipay. Later, I kept buying and selling in small amounts until Bitcoin broke through 7,000 yuan for the first time.
I topped up 10,000 yuan, which was about my three-month salary, and bought RXP, which was 0.4 yuan at the time. It fell terribly in the end, and I was afraid to watch it. It was only a few hundred yuan at the lowest point, but I didn't sell it because I couldn't bear to. 10,000 yuan became a few hundred yuan, and there was no point in selling it, so I persisted until 2017.
2017 was a big bull market. From May to July, XRP rose to 2 yuan. I sold 30,000 yuan in total. This time, my wife strongly urged me to sell. If I waited until December of that year, I could sell more than 500,000 yuan. This experience of selling at a high price also laid the hidden danger for me not to cash out at the high point later.
When the market peaked in 2013, the central bank introduced restrictive policies, which led to a sharp drop in BTC. I will never forget it. So when the market was extremely hot in June and July 2017, I felt that if BTC hit a new high, there would definitely be policies to suppress it, so this time I kept waiting and wanted to buy after the price fell.
Now it seems that my idea was right, but the embarrassing thing is that on September 3, I finally couldn't resist and bought some. Then on September 4, the central bank and seven other ministries issued a document to ban ICOs, and the price of the currency plummeted.
I didn’t have much money at that time, but in September and October, I bought about 20,000 yuan worth of coins, including EOS and Loopring. In mid-October, I talked to my wife and she finally agreed to invest some of her money. This time she gave me 100,000 yuan and my mother gave me 30,000 yuan. After September 2017, ICO became popular, and I invested 130,000 yuan in seven ICO projects, and then caught up with a magnificent bull market. In December, the highest point was 1.8 million yuan in floating profit.
I was too confident at the time. I even felt like I was the protagonist. Just like what was said in the talk show, I felt like God had chosen me. I had a confused feeling. My salary was only 3,000 yuan per month at the time, and 1.8 million was equivalent to my income for 60 years. But now I think I was stupid for not cashing out. In February 2018, Bitcoin plummeted, but I thought it could rise further. I was greedy and did not cash out.
Throughout February, BTC kept falling, and I had about 400,000 to 600,000 yuan left in my assets. I had no cash at all, and I was very anxious. Then suddenly one of the ICO projects rose sharply against the trend, so I quickly seized the opportunity and sold it for about 170,000 yuan. Later, I invested another 100,000 yuan in wicc's ICO, and I added another 30,000 yuan to the remaining 70,000 yuan. I raised 100,000 yuan and invested in a project. Later, the project failed, and the 100,000 yuan was also wasted.
Later, during the second rise of Bitcoin, wicc brought me nearly ten times the profit. In the end, I insisted on selling 300,000, of which 200,000 was exchanged for cash and the other 100,000 was exchanged for Bitcoin. In fact, I originally wanted to sell half of it, 500,000, or all of it. But my wife didn’t let me, and I was shaken, thinking that it could rise even higher. Looking back now, I was just greedy at the time.
I used the 200,000 yuan I cashed out to pay the down payment for a house, and I invested the remaining tens of thousands in ICOs. This happened in 2018. Now it seems that I got nothing from the cryptocurrency world, but it gave me courage. I never thought about buying a house before, but when I had money, I bought one.
At the beginning of 2019, BTC reached a historical low, and so did my altcoins. In May 2019, BTC rose a lot, and I sold all my coins for USDT, with a total value of about 350,000 yuan.
I think what happened in 2013 will definitely happen again, that is, Bitcoin plummeted under policy suppression, so I kept waiting with short positions, doing a small wave in the middle, winning and losing, and by October, 350,000 became 300,000. At the end of October of that year, the news came out that the Politburo of the Central Committee collectively studied blockchain, and Bitcoin rose sharply, which also changed my belief. So I bought all the stocks at a price of 10,000 US dollars, and kept holding 300,000. At the lowest point, only 180,000 was left. Later, in January 2020, when Bitcoin was 8,250 US dollars, I sold them all, a total of 220,000.
During that time, I had a strange habit. I listened to various investment and financial advice courses crazily and came into contact with leverage. At that time, there was a new concept, "Triple leveraged coins will never blow up", and I was tempted. At the same time, the price of Bitcoin was around $10,000. I didn't dare to buy it and wanted to wait until it fell before buying. So I bought a triple leveraged coin with all my warehouse. But later, Binance actually delisted that leveraged coin. Before the delisting, all leveraged coins were forcibly settled at the market price at that time, and the settlement was $700.
I was unwilling to give up, so I deposited 35,000 yuan into the market without telling my wife. I lost until I had only 20,000 yuan left. I quit and calmed down for half a year. I started again this month and just made 35,000-40,000 yuan from 20,000 yuan.
Since March 12, 2020, my beliefs have changed. I used to be a pure bull, but now I am also bearish. But I think I will be educated.
In addition, there is another easter egg. I bought Loopring in 2017 and participated in the long-term lock-up plan. I just took it out on January 4 this year and sold it for 90,000 yuan. I didn’t expect that if I sold it now, I could sell it for 150,000 yuan. I was so depressed. Now, I am standing at a crossroads again. Should I continue to play with this money, or use it to subsidize my family? Because now my total funds have exceeded 100,000, and my monthly salary is still 3,000.
Over the years, I feel that the fluctuations in the cryptocurrency market are too drastic, which has dealt a heavy blow to my faith. Objectively speaking, my luck is relatively good, but my ability is relatively weak. The money I earned by luck, I lost by my ability. But I still want to try and see if I can get rich once. Of course, this must be done without debt and without affecting my life. After all, life is the most important thing.
I feel so conflicted now. Today I want to make $1 million, but tomorrow I just want to avoid losing money.
