Friends, today I want to talk about something real.
I am not some kind of expert, just an old player in the crypto space for 8 years. I have made profits, but I have taken more hits. In 2017, I rushed into the crypto market with 250,000 that I saved from working for four years, when Bitcoin was only 3,000 each. People around me said, 'You're gambling,' but I was unconvinced, believing they didn't understand the disruptive nature of blockchain. What was the result? The bear market came, and my 250,000 dropped to 80,000. Watching the K-line in the middle of the night, my heart raced faster than after running a marathon.
But the most magical thing about the crypto space is that you never know whether the next second is heaven or hell. In the 2017 bull market, my account surged to 4.8 million, feeling like I made half a year's salary in one day; thinking back on it now still gives me a rush. It got crazier in 2021, heavily invested in Ethereum and APT, with my account almost reaching 50 million—then LUNA crashed, FTX blew up, and my greed prevented me from taking profits. In the end, my account was left with just over 800,000.
In eight years, what I've learned is not 'how to get rich', but 'how to survive'.
1. Valuable projects never like to shout slogans.
In my early years, I also followed the trend and bought Dogecoin, only to see it drop to zero faster than it rose. Later, I discovered that the projects that truly helped me recover were those that worked quietly: like Ethereum, where the team has real code updates on GitHub every week without exaggerated marketing; or DOT, which doesn't even bother to use terms like 'disrupting the future' in its white paper.
Now when I look at projects, I first check GitHub, then see what the team has done in the past three years. On-chain data doesn't lie: the number of active addresses, cross-chain interaction volume, and the use of treasury funds are much more reliable than any Twitter hype about 'ten thousand times potential'.
2. If your coins are not in your wallet, they are in someone else's pocket.
I have learned my lesson: when the Mt. Gox exchange collapsed in 2014, I should have remembered that. In 2020, I gritted my teeth and bought a Trezor cold wallet, transferring 80% of my assets into it. In 2022, when FTX imploded and people in the group were panicking to withdraw coins, I was still calm enough to buy the dip—because the coins in the cold wallet were unaffected.
Don't be upset about those withdrawal fees; compared to exchanges going bust or hackers stealing coins, the cost is almost negligible. Remember, there is no 'absolute security' in the crypto space, but a cold wallet can let you sleep soundly at night.
3. Cashing out should not rely on inspiration, but on discipline.
When a person gets greedy, it’s all over. I later set strict rules for myself: whenever an asset rises by 80%, I must sell 15% for stablecoins. When Ethereum shot up to $3,800 in 2021, I gritted my teeth and cashed out a portion; later in the bear market, I used that money to buy Bitcoin at the bottom and made another profit.
When the market is crazy, cash is more practical than faith. Don’t be afraid to sell high; what you have in your pocket is yours.
4. Quick money made by following trends will eventually be lost to understanding.
I once followed a KOL into Dogecoin and lost 1.8 million in one night. Later, I blocked all market groups and dedicated two hours a day to learning techniques: account abstraction, ZK-Rollups, modular blockchain... In 2024, I positioned myself in Layer 2 early and recovered 60%.
There are many opportunities in the crypto space, but you can only ever make money within your understanding. Influencers won’t tell you when they are cutting their losses, and the reality is that more people lose money in bull markets than in bear markets.
Now when I look at the ups and downs, my mindset is much steadier. If I could do it all over again, I would set up insurance for my family earlier and argue less about market conditions with friends and family. The crypto space is a marathon; the ones who survive are not the smartest but those who understand 'when to run, when to squat'.
The market does not pity tears, but it will always reward those who are willing to slowly get rich. Follow Ake to learn more firsthand information and precise points in the crypto space, becoming your guide in the crypto world; learning is your greatest wealth!#加密市场反弹 #美联储降息 $ETH
