From bankruptcy back to 30 million: 8 years of heartache and resurgence in the crypto world
On the day the company went bankrupt in 2016, I was holding the last 50,000 yuan, wandering around the exchange for a whole week.
In the end, I made a desperate move and bought 8 bitcoins at an average price of 6,000 yuan — this was my last lifeline.
In 2017, Bitcoin entered a crazy bull market, with an annual increase of 1,700%, and my account skyrocketed to 800,000.
Staring at the fluctuating numbers on the screen, I couldn't sleep all night, thinking that financial freedom was within reach. But in 2018, the bubble burst, and the total market value of the crypto market shrank by 70%, causing my balance to plummet to 180,000. That late night, I finally realized: unrealized gains are just numbers, only realized profits are real money.
In 2020, I completely said goodbye to chasing highs and cutting losses, turning to mining and deepening my involvement in DeFi. Three years later, my account steadily lay at 3 million. People often ask me how many hundredfold coins I have caught, and I smile and answer: “The core of survival in the crypto world is risk control.” Here are the three iron rules distilled from 8 years of blood and tears, shared today:
First Iron Rule: Breaking even is making a profit; as long as the principal remains, opportunities remain.
In 2021, when altcoins surged, I followed the trend and bought a certain token, withdrawing my principal as soon as it rose by 50%. Later, it plummeted by 90%, but I still had a surplus thanks to “running with profits.” The crypto world is never short of opportunities, but once the principal is gone, you are completely out.
Second Iron Rule: Only earn money that you understand; cognition determines returns.
If you don't understand any one of the white paper, team, or token economics, give it up. During the IEO craze in 2019, I stayed put and avoided the subsequent crash; before the rise of Layer 2 in 2021, I spent half a year deeply researching the elastic sidechain technology of projects like SKALE, and after heavily investing, I reaped several times the dividends.
Third Iron Rule: Position size is more important than timing; diversification is a safeguard.
I adhere to the “6211 rule”: 60% in Bitcoin and Ethereum (which together account for over 65% of market cap) as ballast; 20% in mainstream public chains; 10% for experimenting with new tracks; and 10% kept as cash for emergencies. No single coin exceeds 15% of my position, allowing me to only experience a 12% drawdown during the bear market.
Now Bitcoin has dropped from 126,000 to 94,000, and altcoins have halved, further confirming the value of these iron rules. In bull markets, exercise restraint; in bear markets, stock up. True winners are not gamblers but those who navigate cycles using rules.
Opportunities arise every day, but they wait for no one. Keep up with Brother Zhang in the next cycle, and you too can make a comeback. #加密市场观察
