Let me tell you about my experience. I entered the circle in 2016, and I didn’t even have 500,000 yuan at that time. In March, I heard a big guy say that #Ethereumeth# was a good coin and it would increase a lot after I bought it. I believed it and bought it directly at the high price of around 80 yuan at that time.
In April, the price dropped to 45 yuan, then rose to 138 yuan in June, then fell to 54 yuan in August, rose to 92 yuan in September, and fell to 38 yuan in December.
Later, in the second half of 2017, the bull market started to rise like crazy, almost several times a year. It increased by about 100 times from what I held. I cashed out my first 500,000 yuan in life. It was not because I could hold on to it during this process, but because… I was too naive at the time and didn’t know any of this. It wasn’t until I heard that the platform where I bought ETH had been delisted and that if I didn’t withdraw it, it would be gone. Then I fiddled with it for a long time and withdrew it and transferred it to another platform…
After all, it was the money I made by luck. After experiencing the craziness of 2017, I became proficient in using the functions of the platform in 2018. However, I had no trading system or knowledge at that time. I just operated the contracts randomly. As a result, the market fell and I suffered the first big loss in my life, losing more than 400,000 yuan. You should know that more than 400,000 yuan was all my savings at that time.
After that, I was depressed for a few days. Then I started to find a benefactor, a trader on Wall Street, and learned and trained with him for probably a whole year. In this process, I gradually accumulated some lost ether through trading. At the same time, because of the 2019 new issuance, I held a lot of assets of a certain An at that time. After that, I basically relied on the new issuance to create a very good cash flow.
This supported me, and later I could indulge in trading without any burden. By 2021, I had reaped a total of three waves of trend profits from trading and broke through the first 10 million yuan. It took me about three years, to be exact, March of February.
I have summarized the strategies and paths to achieve 10 million yuan through the cryptocurrency circle within 1 million yuan.
1. There must be a combination of long-term and short-term systems. Long-term high-quality chips must be purchased in sufficient quantities in a bear market.
For example, when I lost the ETH I had, I only had one thought in mind, which was to buy back 200 of them.
Later, I had bought enough and started looking for projects with greater potential and continued to accumulate some slowly.
2. Work hard to create cash flow
When the principal is not much, any risky leverage is meaningless. The only most important strategy is how to get more chips with almost no cost. At that time, there is no doubt that the most attractive thing is to buy new stocks.
That wave of platform competition also played a great role in my subsequent wealth accumulation. If I were to say what was the driving force behind it, it would be: assets that can create cash flow are very attractive!
There is no need to buy randomly. If you want to buy, buy assets that can create very good cash flow for you during a certain period of time or at a certain stage in the future.
3. Speculate on new stocks instead of old ones, and you must eat the periodic consensus rollover
Many people look back on their investment experiences in the cryptocurrency circle and ask themselves, what was the best time they had ever made a profit?
Most people will mention: defi, doge, metaverse, etc.
This is what makes the cryptocurrency market different from other markets. New things appear very frequently, and the iteration speed is really fast. This is also what fascinates me. I like new things and hate old things, so I have never had any prejudice against new things. I just play whatever is fun.
So, if the 4-year cycle of the cryptocurrency market is called the long-term, then the short-term is the periodic consensus brought about by the emergence of waves of new things in the middle, which is called the short-term.
I have a complete trading strategy that takes advantage of this kind of phased consensus market. I call it "Rolling Position Strategy"
Every time something new comes out to bring about a wealth effect, I will activate this strategy and boldly make money from this medium-term trend. I don’t have any faith in it. I just sell when I need to. It’s very profitable.
There are about two years left before the next 25-year bull market. Have you figured out what strategy you will use to accumulate your wealth?
