Once during a cryptocurrency boom, I also put in a thousand to play around and made a profit, with returns reaching up to 2000% at the highest point. But more importantly, I realized that I could lose basic judgment in such a frenzied state.
Initially, shib surged and went mainstream, so I bought a hundred. When I woke up after a sleep, I found it had turned into 200, so I immediately sold my principal and kept 10 million shib waiting for future lottery.
The important thing is that this 100 made me taste sweetness. Compared to the stagnant A-shares where I watch the market daily, the gains in the crypto world seem to have no logic at all; whoever has the loudest voice gets the most gains. Understanding this principle, I decided to put out 1000 to gamble big.
Thus, there was the second money-making project, pig coin. This coin was purely something I heard from others, and then I went to check the official website, which seemed decent enough; at least it was a well-crafted site (from the beginning till now, I believe all animal coins are scams), so I directly bought in 1000.
As a result, after I bought it and took a nap, the coin skyrocketed. In just two nights, my 1000 investment turned into 10,000, and at that point, I withdrew my principal early. This means that this 10,000 was pure profit, and this crazy increase started to affect my judgment, making me really believe it could continue to maintain such a crazy growth trend. I even thought in my mind that 100,000 was my exit point because without the concerns of the principal, I didn't think about cashing out.
More importantly, after this apparent gain, I started frantically looking for the next project. I continued with the initial 1000 and began searching again, so I bought HTMoon. That night I was even afraid the timing of my purchase was too late, which would make my profits not high enough. Because of network congestion, I waited from 10 PM to 4 AM just to wait for my HT to reach my wallet, putting myself in a state of mental excitement.
Later, HTMoon indeed doubled the next day, but what followed was V Musk's double blow to animal coins, causing the entire market to start declining. Even so, I still thought this was just a minor fluctuation, and even when HTM hit rock bottom, I bought an additional 200 to bottom-feed.
Moreover, I realized I had forgotten the principle of prioritizing the exit of the principal, because of the tenfold return of pig coin. I not only didn’t take back my investment when HTM doubled, but I also increased my investment.
That kind of frenzied emotion made me lose basic judgment; after doubling, I wanted to multiply it tenfold, and after multiplying it tenfold, I wanted to multiply it a hundredfold.
At that time, I joined many crypto trading groups, and I found that most of the people inside were those with no investment knowledge at all, not even knowing the basic meanings of 'short' and 'long'. Most people wouldn’t engage in any proactive learning every day; basically, whatever you said, they believed. There was no discernment ability; some people said things so silly that it made you laugh. Even knowing that the participants in animal coins were such a group of leeks, I still did not cash out.
Then came the massive crash of animal coins. Even so, I still insisted there was a chance to recover, and I kept trading to profit. The result was disastrous; I reviewed my operations and finally realized this carnival made me lose the basic principles and bottom line of investing, so I sold all the coins I had.
I tearfully earned 4000.
The profit of these four thousand has nothing to do with my knowledge or experience, purely because I was lucky to buy at a low point. If I have bad luck next time, I would probably be harvested as a leek.
I won't lead fans to explode their accounts, nor will I blindly open positions.
It's all about seeking victory steadily; those who want to make money should get on board quickly!
