8 Years in Crypto: I Have Become the Person I Didn't Understand Back Then

Summer 2017, the sticky heat of those days of overtime hadn’t even faded, I held in my hand 5,000 yuan saved up, my heart pounding as I dove into the crypto market. At that time, Bitcoin hovered just above $2,000, and everyone said it was a “tech community game,” a “bubble about to burst.” I didn’t understand much, only one thing: I didn’t want to stay on the sidelines. I converted all that money into Bitcoin, and just a few months later, the price skyrocketed to $8,000. People around me advised selling, saying this amount was enough to buy a used car. But I didn’t. My mind was filled with a very naive thought: “It could go higher, maybe change my life?” Youth always believes they can sell at the peak. Then the market teaches me my first lesson. A sudden crash, a series of bad news, widespread panic. I trembled as I sold when the price fell back to around $4,000. Result: 5,000 yuan invested, only about 3,000 yuan recovered. Looking back years later, I realized: it was that fearful sale that caused me to lose a future worth millions. Paying Tuition Is Expensive, Only Then Do You Understand Market Temperament Over the past eight years, I’ve witnessed too many scenes that outsiders find hard to imagine: Someone mortgaged their house deed, went all-in on altcoins, and was liquidated completely overnight. A “professional” in a group today boasted profits of hundreds of thousands of USD, but the next day, their account disappeared. Someone’s family was torn apart just because of a market crash. I gradually realized: crypto’s first lesson isn’t about making money, but about survival. In 2021, Dogecoin surged wildly. I had very good profits, but due to greed, waiting for the “1 USD” dream, I ended up losing all my gains. During the LUNA crash, a friend used 20x leverage to “catch the bottom,” and in just 10 minutes, lost 800,000 yuan. From then on, I understood one thing: 👉 Leverage isn’t wings, it’s a noose. Now, whenever I see phrases like “guaranteed profit,” “insider info,” “once-in-a-lifetime opportunity,” I scroll past immediately. Because in crypto, when the news reaches you, it’s often already too late—others are preparing to exit. Cold Wallets and Lessons on Feeling Safe The FTX crash is a real scar. Even now, my over $3,000 still remains on that exchange, almost hopeless. Since that event, I’ve completely changed my habits: Don’t keep large assets on exchangesPrioritize cold wallets, even if inconvenientAccept slow, but safe Safety in crypto is like wearing a seatbelt when driving. It seems unnecessary normally, but when an accident happens, it saves your life. Another thing I learned: don’t trust “perfect stories.” Projects that boast “x100, x1000,” “changing global finance” are often the ones you should avoid most. Look at: Is the code progress real?Does the team have clear identities?Is the product being used? The market may like short-term stories, but only projects that solve real problems will survive long-term. Patience Is More Valuable Than Intelligence Now, when everyone in the group chat shouts “bullrun is coming, don’t miss out,” I become even more cautious. Not because I fear missing opportunities, but because I’ve seen too many people: Make money by luckMistake luck for skillAnd lose everything in just one cycle Real opportunities are often very quiet: Gradually accumulate at the end of a bear marketHold long-term on projects with real applicationsBe patient and wait for the right moment, instead of chasing the crowd’s emotions Eight years ago, I stayed up all night watching minute-by-minute charts. Now, I spend more time reading about economics, tokenomics, community governance The market rewards deep thinkers and punishes those acting on emotion. Conclusion: What Crypto Has Taught Me Is Not About Getting Rich Quickly Do I regret? Yes. Very much. But crypto didn’t give me a formula for wealth; it gave me the ability to control greed, fear, and my own illusions. Those who are still in the market today: Are not necessarily the smartestAre not necessarily the luckiestBut are definitely the most patient In the past, I groped in the dark. Now, the light is in my hands. It’s not about predicting the market, but about risk management awareness + independent thinking. The crypto market will never close. But your capital has limits. 👉 Surviving steadily is more important than any short-term profit. 👉 Continuous learning is the greatest asset in this market. If you want to go long in crypto, start by learning how not to lose first.