In the cryptocurrency world for eight years, I can be considered an old hand.

In the deep winter of 2016, at three in the morning, my phone's notification shook me awake.

—— Bitcoin plummeted from 8,000 yuan to 5,550 yuan.

At that time, I only had 32,000 yuan left in my bank account, and I hadn't even gathered enough for the 1,800 yuan rent. My childhood friend, Old Zhou, called me to say I should buy the dip.

I was staring at a screen full of red and green candlestick charts, confused: “This thing looks like an ECG; I can't even understand MA5!”

He sighed on the phone: “Don’t think you can get rich overnight; you have to survive first to enjoy the profits.”

This statement was like a match, waking me up from my panic-driven rush to invest my capital. I gritted my teeth and invested 20,000 yuan, plunging into the waves of the cryptocurrency world.

Now Bitcoin is stable around 93,000 dollars, but I often think back to the days when I lost sleep worrying about my losses.

There has never been an epiphany in the cryptocurrency world; all lessons are earned through real money.

After stepping in countless pits, I’ve figured out a rule: if there’s a sharp drop followed by a slow rebound, it's mostly a ploy by the big players;

If there’s a slow decline followed by a sudden surge, that usually hides the real opportunities.

In November 2020, UNI dropped from 8 dollars to 2.5 dollars, and the community was full of complaints about the project team running away.

I remembered Old Zhou's words and set a strict rule of “buying in every time it drops by 20%,” and over three months, I bought in three times, pushing my cost down to 3.1 dollars.

In May of the following year, it surged to 40 dollars. I was so nervous watching the screen that my hands trembled, but I decisively sold off my holdings, making a 12-fold profit on that single transaction.

Now I fear two types of market conditions: too much excitement and too much silence.

In 2021, when Dogecoin hit the fifth place on trending searches, I found that the on-chain trading volume had dropped 30% for a whole week. That day, I cleared my holdings, and sure enough, it halved three days later;

In 2018, when BTC was stagnant at 3,200 dollars for two weeks, with the trading volume falling to one-tenth of its peak, I consistently invested 100 U every day without fail. Six months later, my cost was down to 3,800 dollars, perfectly catching the subsequent main wave of rising prices.

Old Zhou left the market to open a supermarket in 2019, saying before he left, “The crazier the market, the more timid you should be.”

Now, I have a handwritten note on the homepage of my trading software: “Stop if in doubt.”

The cryptocurrency world has never been a casino; even with Bitcoin's wild fluctuations now, I always remember the significance of my initial 20,000 yuan.

—— Keep to the bottom line of your capital, don’t let emotions lead you astray, and you can walk far in this industry. @bit冰