For the ups and downs of the crypto market, the most affected are those retail investors who once traded crypto full-time. Zhang Zhang (a pseudonym) is one of them.

Time once again returned to May 19, the day when the crypto market collapsed. He did not sleep all night. He said that as long as he closed his eyes, memories of his two years of sleepless trading life would flash through his mind.

Recalling that experience, Zhang Zhang described:

'Like two lost years.'

Zhang Zhang first came into contact with the crypto world in 2017, when he had just graduated from university for less than two years and registered on an investment platform recommended by a friend run by investment tycoon Xu Xiaoping.

'I encountered a market that surged 80% in a day as soon as I entered,' Zhang Zhang still remembers the details of his first trade clearly. 'I made a few thousand from over ten thousand in capital, but I didn’t withdraw. In the end, I lost until I only had 3000 left before leaving the market.'

But this loss not only did not drive Zhang Zhang away from the crypto world, but instead planted a seed of a gambler in his heart.

In 2018, Zhang Zhang made a small profit in business; at the beginning of 2019, he stepped back into the crypto world, buying in at the price of 3800 dollars and continuously dollar-cost averaging, investing over a hundred thousand, and because it coincided with a small bull market, he made tens of thousands.

Zhang Zhang, who made money, felt that he was 'very insightful' and 'picking up money every day'. Later, he learned about some more exciting plays: contracts and leverage.

At first, Zhang Zhang opened 5x leverage, starting a back-and-forth of making money—losing money—making money—losing money, from earning and losing a few thousand to earning and losing tens of thousands.

'I became numb, feeling that money is just a number,' Zhang Zhang started to increase his leverage to 50x, 100x, and could never bring it down again. 'Later, I created my own hundred times betting strategy, stop-loss upon liquidation.'

In 2020, Zhang Zhang was blinded by the crypto market.

In March, the crypto market crashed, and he went short with high leverage, seeing his account balloon by several million; but he still did not withdraw, wanting to multiply it by 10 again, and went long, resulting in liquidation.

After being liquidated, he added money, then traded contracts again, got liquidated again, and added money again. Zhang Zhang quickly lost all his savings, began to borrow, and the gap in funds widened. Ultimately, he sold a set of Nanjing property worth a million to pay off debts.

At this point, Zhang Zhang's state was approaching madness. Coupled with the fact that the virtual currency market fluctuates 24 hours a day, he, like many traders, woke up at five or six in the morning and went to sleep at one at night, feeling extremely lethargic.

'I was originally a long-term investor, but after opening leverage, I became a short-term speculator. From then on, I drifted in the crypto world, where the sea of suffering is endless.'

By February of this year, Zhang Zhang, who was already heavily in debt, was still frequently trading contracts. He had repeatedly rolled over a few thousand in capital to over a million through high leverage.

But there was not a single time he could exit unscathed. Up until the eve of this crash, Zhang Zhang calculated that his losses from trading crypto for two years had reached over two million.

The continuous liquidations notifications arriving in the middle of the night finally broke Zhang Zhang. He decided to leave the crypto world forever.

'In the crypto world, there are many who get rich quickly, but few who end well.'

Some liquidation notifications from 2020 and 2021

Zhang Zhang described himself as a 'tree without roots'. He also said: 'I know a civil servant who made over 60 million by investing in Litecoin in 2017, and now he is also over a million in debt. We are all people without a good ending.'


These days I am preparing for the layout of the divine order that is about to start!!!

Doubling is still very simple,

At the same time, he was also preparing to find some potential coins to hold until the end of the year.

An expected space of over 10 times is not a problem.

Comment 888, get in!!!

#比特币突破10万？ #ETH市场新动向 #SOL创历史新高 #XRP与SEC新局面 #现任美SEC主席将于1月离职

Daily focus: doge pnut pepe xrp sol sui neiro