The stark white light of the computer screen reflected my pale face; it was a night in December 2017 when Bitcoin had just surged to its historical peak of 20,000 USD.
My account's floating profit exceeded 3 million. In my excitement, I was completely unaware that just a month later, a sudden crash would take away all my profits and halve my principal. The sound of the margin call message I received late at night still echoes in my mind — that was the first time I truly experienced what 'real despair' means.
Eight years of blood and tears in the cryptocurrency world taught me a simple yet profound lesson: money earned by luck will ultimately be lost back through skill. The most important survival rule I have concluded is: 'Making money in a bull market is for experts, making money in a bear market is for the gods.'
When most people are afraid, you must learn to be greedy.
In the world of cryptocurrency, a bear market is not a rare exception but a cycle that must be experienced.
The difference between a true veteran and an ordinary investor lies not in how much can be earned in a bull market, but in how to position oneself during a bear market.
What is a true bear market? It is not simply a 20% drop in prices, but a prolonged downturn accompanied by a collapse of confidence.
Market trading volume has decreased, investors are generally pessimistic, and negative emotions are spreading.
But it is precisely this market winter that sows the seeds for the next bull market.
I have seen too many people rush into the market at the highs of a bull market and cut losses at the lows of a bear market. This behavior of chasing highs and cutting losses is the fundamental reason for wealth being harvested. True opportunities often arise when everyone is shouting that 'the crypto market is done for.'
My bear market survival strategy: regular investment is not mindless investing.
99% of people will tell you to 'just invest regularly,' but very few explain when to start, what to invest in, and how to invest. After three cycles of bull and bear markets, I have summarized my own method.
Core Position (60% funds): only choose BTC and ETH.
When the market fear index is extremely high, I start executing my regular investment strategy. I allocate 60% of my funds to Bitcoin and Ethereum, which forms my 'core position.'
Why? Because these two are the cornerstones of the market, ensuring that I won't fall behind in any cycle.
However, regular investment is not simply buying fixed amounts every month. I will observe market sentiment indicators; when the fear and greed index shows extreme fear, I will increase the amount and frequency of my regular investments; when the market starts to show greedy sentiment, I will pause my regular investments and even consider taking partial profits.
Dark Horse Observation Pool (40% funds): patiently wait for oversold opportunities.
I use the remaining 40% of my funds to capture opportunities in promising small coins. But please note, this is not an invitation to chase worthless coins!
My approach is to deeply research 5-10 sectors that I believe in (such as Layer 2, AI, Depin, etc.), select 1-2 leading projects in each sector, and put them into my observation pool.
Then, I patiently wait for two key signals: first, when the overall market is bleeding, and my target cryptocurrencies have dropped more than 80%-90% from their highs; second, when the project itself is still actively being developed, and the team has not run away.
Only when these two conditions are met will I buy in batches. This strategy requires immense patience, but the rewards are also astonishing. For example, during the 2022 bear market, I accumulated SOL at a price below $10, and by early 2024, when it was close to $200, I achieved considerable gains.
Additional income in a bear market: staking and airdrops.
In a bear market, I also earn additional income through staking. Staking the tokens I hold in reliable protocols can yield annual returns ranging from 3% to 10%.
This not only offsets some volatility risk but also allows me to accumulate more chips during the bear market.
At the same time, a bear market is a golden period for participating in project ecosystems and obtaining airdrops. I will truly use various protocols—trading on Uniswap, registering ENS domain names, participating in Gitcoin donations, etc.
These actions not only help me gain a deeper understanding of the projects but also often bring unexpected airdrop rewards.
Emotional Management: the key to surviving a bear market.
In a bear market, the biggest enemy is not the market, but our own emotions. Fear and greed are the two deadliest enemies for investors.
My own method is to formulate a strategy and try to look at the market as little as possible. In a bear market, staring at price fluctuations every day only increases anxiety and leads to wrong decisions.
I believe in my research, execute my plan, and then patiently wait for the market to recover.
A bear market is also the best time for learning and improvement. When the market is euphoric, people are busy chasing trends; when the market cools down, it is the best opportunity for us to calm down and study techniques, analyze projects, and enhance our understanding.
The real wealth I gained in these eight years is not money, but a profound understanding of market rules.
The market will never lack opportunities; what is lacking is the awareness to discover opportunities and the patience to wait for them. It took me eight years and millions in tuition to grasp these rules.
The current market, while full of challenges, also harbors infinite opportunities. True investors will quietly position themselves during market downturns and exit gracefully during market euphoria. This is not some profound principle, but it requires strong discipline and anti-human courage.
As a female analyst who has gone through multiple bull and bear markets, I believe the current market environment presents both a test and an opportunity for us. Grasping the rhythm within it is key to reaping our share of returns in the next bull market.
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