How many times have you suffered losses in the cryptocurrency circle?
A friend of mine has experienced several regretful moments of missing out on wealth in the cryptocurrency circle, and each time he deeply felt the ruthlessness of the market and the profound lessons.
In 2021, after the squid game became popular, a squid coin was released on the chain. When he heard about it, the coin had risen thousands of times. Later one day, the coin suddenly withdrew from the pool and fell a lot to almost zero. People in the cryptocurrency circle were talking about this squid coin. He went to the chain and saw that the price had added a lot of zeros, so he quickly transferred two bnbs to buy it. He sold it when it rose by 20%.
As a result, three days later, everyone was talking about the squid coin soaring more than 1,000 times, and he broke his thigh and missed the opportunity to make $1 million.
On December 29, 2022, he opened a 10-fold order when SOL fell to 8.8. However, when it fell to 7.96, he was liquidated, and the lowest price of the day was 7.79, the lowest price in history so far. Later, SOL soared all the way up to 210.25. He said with emotion that if he had added a little margin that day and held it until now, he would have become rich. However, even if he had not been liquidated, he would not have made much money, because he would definitely close his position if it rebounded to 10-12. At that time, he did not understand SOL and had no good expectations. He went long just because he wanted to fight for an extreme rebound after falling so much.
In the early morning of New Year's Day this year, TRB soared wildly, and everyone was talking about it. He saw that it was too fierce, and the bottom of 7 US dollars rose to more than 300. But he did not dare to short at a high multiple because it rose too sharply, so he opened a 1x leverage short. He thought it would never be liquidated, but it was liquidated at 640, and 50,000 yuan was zeroed.
He later said that if he was on a certain exchange, he would not be liquidated, because the highest price of a certain exchange was only 555, and the highest price of the OK exchange was 738, which was higher than his liquidation price of 640.
His expectation was to close the position at 200, which was a 37% drop from the opening price of 320, so he would earn nearly 20,000. However, the short position that should have earned 20,000 actually lost 50,000, which made him so angry that he decisively withdrew his coins from OK to An and vowed never to use OK Exchange again.
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