I didn't expect the third liquidation to come so quickly. The second recovery lasted for a while, and since there was no leverage, I slept soundly and ate well.

I also noticed a problem: the daily list of top gainers still includes those coins that doubled on the same day, while coins that have already increased a lot are still pushing forward with daily gains of a few points. People around me say they won't rise anymore, so let's take our profits. Similarly, I also liquidated all my holdings and watched from the sidelines.

As a newcomer to the market, after I sensed the crisis and escaped at the peak, the cryptocurrency market started to flood. Bitcoin plummeted, triggering a collapse of altcoins. Some shouted to not run away, saying it was just a technical correction, while experienced investors said the bear market had arrived; if you don’t run, you’ll be stuck for ages. By that time, I had already sold off my holdings and was left with cash. But this situation didn’t last long.

Discount sales, how can I resist? After two days of decline, I couldn’t help but jump back in. Experts often fall victim to bottom fishing; how simple a truth it is, but I got buried the moment I tried to catch the bottom. At that time, I felt immense regret; I could have used my 4 million to buy a house or a car, why did I have to lose it all again?

According to the tropes in TV dramas, people who behave like this usually don’t last beyond two episodes, but I was out in half an episode. The day I used leverage was May 26, and the next day, May 27, the entire cryptocurrency market experienced a severe correction. The altcoins during the Bitcoin era fell by about 50% that day, and just the day before the market halved, I had taken on three times the leverage.

Then came the liquidation. Litecoin was leveraged through futures on OKEx, and I lost everything. Ethereum was spot leverage; after the liquidation, only 200,000 remained. Going from 4 million to 200,000 marked my third bankruptcy.

However, upon reflection, while it seems regrettable that I made an incorrect judgment about the severity of this crisis under the temptation of huge profits, it made me realize even more that I cannot rely solely on my imagination to judge market changes.

The above is the 9-year experience from an old investor, (continuing from the previous text, the entire series concludes)

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