This article depicts the experiences of a cryptocurrency investor, illustrating the fluctuations in the Bitcoin market from its high point in 2021, as well as how individuals learn, adapt, and ultimately find their own investment path in this process.
(Table of Contents)
Learning from losses
Growing through various strategies
Transitioning to long-term investment in “HODL” coins
In 2021, the continuous breakthrough of Bitcoin and the announcement of Tesla accepting Bitcoin payments by Elon Musk attracted widespread attention in the market. This led a Dcard user, who goes by the pseudonym “Forever European and Indian,” to enter the cryptocurrency market.
Just today (May 5th), Forever European and Indian shared their journey from being a beginner to experiencing the baptism of the market, and eventually adjusting their strategy to focus on long-term investment in ADA. According to their public records:
They started investing in ADA on April 20th last year and currently hold 73,043 coins, which cost a total of $32,167.
Based on the current price of ADA at $0.7661 per coin, the value of their holdings has reached $55,958.24, with a return rate of 74%.
During this nearly one-year period, they did not sell ADA and ended with a confident statement:
Forever European and Indian also recalled that when they first started investing, due to lack of experience, they began trading without fully understanding the concept of holding positions or leveraged trading. They also started with 10x leveraged contracts, resulting in the loss of their funds. However, this accelerated Forever European and Indian’s learning process.
“Bloodbath on May 19th” became their first experience of a market crash in the cryptocurrency market. At that time, mainstream currencies such as BTC and ETH fell by 30% to 50% in a single day. This caused their original margin of over $10,000 to shrink to just over $1,000. Although they were lucky enough to recover, it still had a significant impact on their psychology, leading them to withdraw from the market for a while.
As the market gradually recovered, Forever European and Indian returned and began to explore different investment strategies, such as grid trading, participating in liquidity mining, Bitfinex lending, shorting, participating in exchange IEOs, and more.
They mentioned that when they saw a Youtuber recommend FTX’s 8% savings, they also participated in it. However, they withdrew their funds because they found the interest earning too slow. Unfortunately, their family members were unable to withdraw their funds, and the Youtuber also couldn’t take responsibility. The old saying still applies: “You’re an adult, you’re responsible for your own money.”
Forever European and Indian pointed out that after playing a round in mainstream exchanges, they came across secondary market money-making schemes. The first time they played, they doubled their investment in just seven days and made over 10,000 euros. The profit blinded them, and the second time they lost all the profits they had made.
After Bitcoin reached its all-time high of $69,000 in 2021, Forever European and Indian attempted to profit from shorting. Although they got the big direction right, the fluctuations during that period kept accumulating their losses.
Later, Forever European and Indian saw that they could earn airdrops by trading on a new exchange, but they suffered heavy losses of 5 ETH (worth $10,000 at the time) in that project. This experience made them reflect deeply.
Finally, after going through a series of ups and downs, Forever European and Indian started transitioning to long-term investment and chose ADA for staking to earn interest. From April last year until now, their profits have exceeded 70%. This relatively stable strategy may have given Forever European and Indian some peace of mind after experiencing the market’s major ups and downs.
In fact, Forever European and Indian’s story is a condensed reflection of the experiences shared by many cryptocurrency investors. From being a novice explorer to experiencing the market’s baptism and 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 on how to maintain learning and adaptability throughout this process.
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