A fan contributed:
From 2020 to 2024, I entered the currency circle again. When I first entered, I brought a curious heart and a principal of 10,000. When I first got involved in this industry, I chose eth and luckily caught its surge. Then I switched to LTC and successfully made a profit. However, the subsequent domestic regulatory storm made me temporarily leave the market and devote myself to the stock market, but the results were not ideal.
At that time, Bitcoin plummeted from its highs, and I chose to wait and see and use this time to learn more about blockchain knowledge. At the beginning of 2020, Huobi issued HT. I decisively bought it and held it for a year. During this period, the market was flat, but I did not move a single step.
In 2021, the Bitcoin market exploded, and along with the IEO craze, my funds increased from the initial 24,000 to 72,000. However, at this time I made a fatal mistake - opening contract trading. It was just a small test at the beginning, but as the profits increased, I gradually increased my position, and eventually my position was liquidated on the EOS contract, resulting in heavy losses.
In order to recover the losses, I chose online loans, and all the borrowed money was lost in just one month. In order to repay the debt, I even deceived my wife and raised funds in the name of the company. However, this did not change my situation, but made me fall deeper into trouble.
After experiencing a series of failures, I gradually realized the dangers of leveraged trading. I began to focus on spot trading and use my knowledge to make profits. Luckily, during another Bitcoin rally, I was able to cash out, pay off all my debt, and have some surplus.
Looking back on the past four years, I deeply understand that investment risks and opportunities coexist. I would like to tell new investors that investing is okay, but they must be cautious. Leveraged trading and loan speculation are both high-risk behaviors, and it is easy for people to fall into a situation that they cannot extricate themselves from. Only by making money within your own knowledge can you truly achieve a stable return on investment. In the future currency circle, I believe that as long as we remain calm and rational, we can all find our own path to wealth.
