In 2014, an elder brother claimed on a forum that he misappropriated 480,000 for buying a house, with a cost of ￥4800 per coin, and went all in to buy 100 bitcoins.
After enduring for more than two years, during which the market fluctuated continuously, the brother also bore tremendous pressure, and ultimately, before the bull market in 2016 arrived, he sold off his holdings at a loss of 180,000.
If these 100 coins were obtained now, based on today's price of $103543, it would be 77 million RMB……
Lesson:
1. Do not invest money you cannot afford to lose.
2. Be cautious when going all in; it can make you foolish. Once the market drops, you may be trapped. Most inexperienced investors do not cut losses when the market drops and do not take profits when it rises. Only when the decline becomes unbearable do they sell at a loss.
3, Dollar-cost averaging can make you wealthy for a lifetime. If Brother 480,000 switches to dollar-cost averaging, during the two years of the bear market, he can pick up very, very cheap chips, with an estimated dollar-cost average of around ¥1000, which is only one-third of the all-in price of ¥4800.
Since the story is too old, BTC was still priced in RMB at that time, and the USD price was only a few hundred dollars.
Now, the market has gone through N rounds of bull and bear cycles, and dollar-cost averaging BTC is still a good investment strategy. Those interested can read another article I wrote.
The Logic of Making Money by Dollar-Cost Averaging BTC
A thought can lead to heaven, another can lead to hell. May every coin friend become rich gracefully!
