This article depicts the experiences of a cryptocurrency investor, from the peak of Bitcoin in 2021 to the market’s multiple fluctuations, and how individuals learn, adapt, and ultimately find their investment path in this process.
Table of Contents:
Learning from Losses
Growing in Various Strategies
Transitioning to Long-Term Investment in “Holding Coins”
In 2021, the continuous breakthrough of Bitcoin and Tesla’s announcement of accepting Bitcoin payments have attracted widespread attention in the market. This has led a user on Dcard, using the pseudonym “Forever India,” to enter the cryptocurrency market.
Just today, Forever India shared his journey from being a beginner to experiencing the market turmoil and ultimately adjusting his strategy towards long-term investment in ADA. According to his public records:
He started investing in ADA on April 20th last year and currently holds a total of 73,043 coins, with a total expenditure of $32,167. Based on the current price of ADA at $0.7661 per coin, the value of his holdings has reached $55,958.24, with a return rate of 74%.
During this nearly one year, he did not sell ADA and ended with a confident statement:
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Forever India also recalled that when he started investing, he lacked experience and began trading without fully understanding the concepts of full position and cross leverage operation. He started with a 10x leverage contract but quickly experienced financial losses. However, this accelerated Forever India’s learning process.
The “519 Bloodbath” became his first experience of the cryptocurrency market’s drastic decline. At that time, mainstream currencies like BTC and ETH fell by 30% to 50% in a single day. This caused his initial deposit of over $10,000 to shrink to just over $1,000. Although he eventually recovered, it still had a significant impact on his psyche, leading him to withdraw from the market for a while.
As the market gradually recovered, Forever India returned and began trying different investment strategies such as grid trading, participating in liquidity mining, Bitfinex lending, shorting, and participating in exchange IEOs, among others.
He mentioned that when he saw a YouTuber recommending FTX’s 8% interest rate, he also participated but withdrew later because he found the interest too slow. However, his family couldn’t escape, and the YouTuber couldn’t take responsibility, so the old saying remains: “As adults, we are responsible for our own money.”
Forever India pointed out that after playing a round in mainstream exchanges, he encountered secondary market money games. The first time he played, he doubled his investment in seven days and earned over 10,000 euros. This profit clouded his judgment, and he lost all the profits in the second round.
After Bitcoin reached a historical high of $69,000 in 2021, Forever India tried to profit from shorting. Although he correctly predicted the general direction, the fluctuations during the process continued to accumulate his losses.
Later, Forever India also encountered an opportunity to earn airdrops through trading on a new exchange. However, he suffered a severe loss of five ETH (worth $10,000 at the time) in that project, which made him deeply reflect on his actions.
Finally, after a series of ups and downs, Forever India began to transition to long-term investment and chose ADA for staking to earn interest. From buying since April last year until now, his profits have exceeded 70%. This strategy is relatively stable and may have given Forever India a sense of peace after experiencing the market’s volatility.
In reality, Forever India’s story is a reflection of the experiences shared by many cryptocurrency investors. From being beginners exploring the market to experiencing its challenges and eventually finding a suitable investment path, this process is full of learning and adaptation.
The uncertainty and opportunities in the cryptocurrency market present a challenge for every investor in maintaining their learning and adaptability throughout this journey.
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