Late at night, I stumbled upon a screenshot in the group showing someone flaunting a 'floating profit of 500,000', accompanied by the caption 'Another week to reach a million'. I stared at the screen and suddenly laughed—this looked just like me and my friend who took a big fall back in the day.
After spending a long time in the crypto world, you realize that the most painful thing is not 'how to earn', but 'how much to stop earning'. I've seen too many people go from tens of thousands to hundreds of thousands, only to end up unable to recover their principal. It's not that they lack the ability to earn; they're bound by greed, waiting for the market to slap them awake.
That summer of 2019, I still remember it clearly. My friend Akai brought in 20,000 USD and caught a wave of a small bull market, skyrocketing his account to 300,000 in three months. During that time, he was walking on air, hosting gatherings every day, and changed his phone wallpaper to 'Countdown to Million Goal'. A few of us seasoned investors took turns advising him: 'Withdraw 100,000 first; even if it drops, you won’t lose' 'Only what you take is real money; the numbers are all virtual.'
Every time he waved his hand to refute, his eyes full of light: "You guys are just timid! If I charge to a million, I’ll quit my job and travel the world, this is a chance to change fate!" Now that I think about it, that was not a chance to change fate; it was clearly the entrance to a deep abyss.
The turning point came unexpectedly. One early morning in deep autumn, mainstream coins collectively plummeted, and Akai's position evaporated half in half a day. We called to advise him to cut losses, and he cried on the phone saying, 'Wait a bit longer, it will definitely go back up.' Just like that, after 'waiting', in less than half a year, his 300,000 turned into 12,000, and he couldn’t even preserve the principal he initially invested. Later at a reunion, he never mentioned the words 'cryptocurrency' again, just drank silently, and the light in his eyes was completely extinguished.
At that time, I still secretly felt fortunate, thinking he was too greedy and that I could definitely keep my wits about me. But reality quickly gave me an even harsher slap in the face—in the great bull market of 2021, I fell harder than he did.
At that time, I put in my savings accumulated over five years, along with part of a loan, a total of 500,000 U. With the doubling trend of several mainstream coins, the account soared to 1.8 million U in three months. Every morning, the first thing I did upon opening my eyes was check the market software, watching the numbers jump, even dreaming about calculating 'if it doubles again, that's 3.6 million, enough for the down payment and car money'.
My wife advised me to withdraw a part to pay off the loan first; I verbally agreed but hesitated to press the 'withdraw' button. I kept thinking, 'If it rises by another 5 points, I’ll withdraw' or 'If it breaks this resistance level, I’ll pull out', as if the market should follow my thoughts. Until one afternoon, while I was in a meeting, my phone popped up a notification saying 'a certain coin plummeted 20%'; I trembled and almost dropped my laptop.
When I rushed to the computer and opened the trading software, the numbers on the screen sent chills down my spine—1.8 million U was reduced to 900,000. I stared at the screen for ten minutes, my mind was full of 'how is this possible' and 'wait a bit longer'. But the drop was like an avalanche, giving no time to react. The following week, I stayed up late every day watching the market, losing hair by the handful, yet the account balance kept shrinking.
When the number froze at 400,000, I completely collapsed. That night I sat on the balcony smoking, from midnight until dawn, with cigarette butts piled all over. My mind was filled with 'if only I had withdrawn 1 million earlier' and 'if only I hadn’t taken out a loan', but the words of regret stuck in my throat, and I couldn’t even cry. It was then that I finally understood that the unrealized profits in the cryptocurrency world are like sand in your hands; the tighter you grip, the faster it slips away.
It was also at that moment when dawn broke that I suddenly realized: the wins and losses in the cryptocurrency world are never about who has the highest peak, but about who can truly take money out of this market. No matter how dazzling the peak is, it’s all an illusion; only what can be transferred to a bank account is real money.
Since then, I set a strict rule for myself, written in the notes of the trading software, that I must read before opening a position: if the position triples, immediately withdraw half and exit; if unrealized profits exceed 500,000 U, forcibly transfer 200,000 to my wife's account. No conditions, no excuses, even if it’s about to surge in the next second, I will not hesitate.
Someone in the background asked me, "Bro, how much do you need to earn to be enough?" Actually, I can't answer that either. Money is something that never feels enough, but a person's tolerance has its limits, and the risks in the market are a bottomless pit. You think you can wait until the peak to exit, but there has never been a real peak in the cryptocurrency world, only the abyss after chasing highs.
In the second half of last year, a meme coin I held quadrupled, and according to the rules, I withdrew half of the profits, just enough for the down payment on a school district house for my child. Not long after, that coin fell back to its original point, and the group was filled with wails, but I slept particularly soundly. Because I knew the money I pocketed would never be taken by the market again.
Today I wrote these heartfelt words not to teach anyone how to trade cryptocurrencies—after all, the risks are high, and one must enter cautiously. I just want to remind you in front of the screen: don't be blinded by unrealized profits, and don't hope to precisely step off at the peak.
The harshest survival rule in the cryptocurrency world is not 'dare to charge', but 'know when to stop'. Those who can laugh until the end are often the ones who get off the bus proactively halfway up the mountain, putting the gains in their pockets.
Have you had a similar experience in the cryptocurrency world? How much would you choose to cash out? Share your story in the comments, follow me, and next time I’ll guide you to avoid more traps in the cryptocurrency market.
