For a newbie who has just entered the cryptocurrency circle, can 150,000 yuan make 2 million yuan?
A friend of mine who was born in the 1990s successfully earned 12 million yuan during the last bull market. For ordinary people, such wealth accumulation has undoubtedly reached an astonishing height. Below, I will share with you his experience and methods of making the first pot of gold in the cryptocurrency circle from his perspective.
This friend is a boy born in 1995. After graduating from university in 2018, he worked in Shenzhen. In early 2020, he entered the cryptocurrency circle and began his digital currency investment journey. At present, he owns his own property in Shenzhen, lives a simple life, has no luxury consumption, and most of his assets are invested in exchanges.
Before he came into contact with the cryptocurrency circle, he worked in the e-commerce industry in Shenzhen, earning 20,000 to 30,000 yuan a month. Excluding more than 10,000 yuan in living expenses, he could save 10,000 to 20,000 yuan a month. However, such an income made him feel that there was little hope of buying a house in Shenzhen, and the bottleneck of work income made it difficult for him to achieve rapid growth of assets.
Fortunately, he came into contact with the cryptocurrency circle and discovered the possibility of doubling his assets by leveraging virtual currency. When he entered the cryptocurrency circle, he happened to be in the early stage of the bull market, so he resolutely invested most of his savings in digital currencies, mainly Ethereum and Bitcoin, and also bought some altcoins.
During the investment process, he showed excellent investment vision and mentality. During several major pullbacks, he decisively increased his positions; in the face of the 519 crash, he not only did not panic sell, but instead increased his positions in some promising altcoins. His investment philosophy is to trade only when there is high certainty, reduce the frequency of transactions, and maintain a calm mind.
In November 2021, when the price of Bitcoin reached a record high of US$69,000, he keenly noticed the weakening trend of the market and decisively cleared most of his positions. At this time, the price of Bitcoin fell back to around 58,000 and the price of Ethereum was around 4,400. This wise decision allowed him to avoid the subsequent violent fluctuations in the market and preserve the fruits of victory.
In the end, at the end of the bull market in 2021, his capital account had accumulated to more than 12 million. He used part of the funds to buy a house in Shenzhen, part of the funds for daily living expenses, and the rest of the funds continued to be invested in the exchange.
Looking back on his investment experience, we can summarize the following advantages: First, he has relatively large principal and continuous cash flow replenishment;Secondly, he chose the right entry time and buying and selling points; thirdly, he only traded when there was high certainty, reducing the frequency of unnecessary transactions; finally, he always maintained a good attitude and did not use contract leverage or borrowing for high-risk investments.
The cryptocurrency market makes money in cycles, and factors such as entry timing, entry and exit points, project selection, position allocation, and principal will affect profits. I hope this friend's experience can provide help and inspiration for everyone's next bull market trip.
As your guide in the currency circle, I will continue to provide you with in-depth analysis and practical suggestions. I am only a free blogger, just to grow with you. Let us explore the currency circle together and find your own way to wealth! Follow me and you will no longer be lost in the cryptocurrency world
