#数字资产市场动态 That summer in 2017, a collapse in renovation business shattered my world—40 million yuan in debt hanging over my head, with only 60,000 yuan left in my pocket. Feeling hopeless, I sat in an internet cafe for three days and nights, frantically browsing information and analyzing data. In the end, I made a crazy decision: to invest all my remaining 60,000 yuan into Bitcoin at an average price of 6,500 yuan, buying 9 coins. It was a do-or-die battle, and my final gamble.

That winter, Bitcoin seemed to hit the fast-forward button—its annual increase was 16 times, turning 60,000 yuan into 920,000 yuan instantly. At that moment, I truly thought I saw the light, even considering selling my house to add more. But the bubble burst just as quickly in 2018; the market lost three-quarters of its value, and 920,000 yuan suddenly dropped to 240,000 yuan. That night in front of the ATM, staring at the balance on the screen, I realized a truth: unrealized gains are ultimately illusions; prosperity that can't be maintained is worthless.

It took me four years to fully absorb this lesson. In 2022, I decided to change my approach, abandoning the reckless chasing of highs and lows, and shifting to deep waters like mining rig hosting and liquidity mining, focusing on truly studying the fundamentals. After three years of persistence, my account steadily grew to 3 million yuan.

Someone asked me how many 100x coins I’ve copied, and I just smiled and said: "In this circle, surviving is the only qualification to talk about making money. Those who can preserve their principal often live longer than those chasing the hot trends."

From a cliff-like plunge to a slow recovery, I summarized three seemingly simple but brutal rules:

**First is Principle Over Capital**. When buying new coins, take profits first to recover your initial investment; let the remaining profit compound. Even if the market drops sharply later, your core remains intact. Many people just can't bear to take profits, and in the end, they give everything back.

**Second is the Boundary of Cognition**. Don’t touch coins you don’t understand, no matter how hot they are. The opportunities in this circle are explosive, but most "pies" that aren’t yours are traps. Unlike others, I see "not touching" as an active, advanced choice rather than a regretful abandonment.

**Third is Position as Armor**. I follow a proportional management method—this way, I can participate in the market while controlling drawdowns during bear markets. The key is discipline; don’t withdraw all your protections when the bull market is roaring.

Be calm during bull markets, stay firm during bear markets. The true winners in the crypto space are never those chasing highs but those who stick to the rules, protect their principal, and maintain rationality.

Opportunities are everywhere, but they only favor those who live long enough. A lone sail needs direction; a single boat needs resilience. In the crypto market, self-cultivation, reliable information channels, and discussion communities are essential to avoid detours.