#大户持仓动态 In the hot summer of 2020, a business collapse left me with a debt of 500,000 yuan and only 50,000 yuan in my pocket. That was truly the bottom of the valley.

After staying in an internet cafe for 72 hours straight, I sifted through a series of data, repeatedly ran probability models, and finally made a gambler’s decision — to invest all my remaining 50,000 yuan by buying 9 bitcoins at an average price of 6,000 yuan each. This was my last-ditch effort.

The market responded accordingly. That winter, Bitcoin surged fiercely, skyrocketing 16 times within the year, turning 50,000 into 820,000. In an instant, I saw a glimmer of hope, even considering selling my house to add more. But markets don’t only go up. In 2018, the bubble burst, the market halved repeatedly, and the 820,000 evaporated coldly to 190,000.

That cold night, crouched in front of the ATM staring at my account balance, I finally saw the truth: the unrealized gains on paper were not real money; they were illusions. The fleeting prosperity was not worth a single cent.

Starting from 2022, I completely changed my approach. No longer blindly chasing highs and selling lows, I turned to mining hosting and liquidity mining, steadily accumulating over three years, and my account eventually grew to 2.8 million.

Someone asked me how many "hundredfold coins" I had caught, and I just smiled and said, "Just surviving in the crypto world is a win. Risk control is the only bottom line that cannot be compromised."

These years of ups and downs have distilled into three seemingly simple yet incredibly brutal rules:

**Rule 1: Principal is life.** When a new coin launches and rises, first withdraw the principal, let the profits roll over. Even if it gets halved again and again, it won’t hurt your vitality.

**Rule 2: Cognition is the boundary.** Don’t touch what you don’t understand; no matter how tempting, it’s poison. Opportunities in the crypto space are plentiful, but most of the pies that aren’t yours are traps.

**Rule 3: Position is armor.** Strictly follow the rules of capital allocation (a scientific mix of stable assets, potential targets, high-risk positions, and cash reserves). Even in a deep bear market, the drawdown can be controlled within 15%.

The bull market tests human nature the most — don’t be impulsive. The bear market tests confidence — don’t panic. Those who truly make money in the crypto world are often not the aggressive traders chasing highs, but those who stick to discipline, protect their principal, and keep their original intentions — the “survivors.”

Opportunities never lack, but they only favor those who live long enough.

If you have capital and want to achieve growth, or want to securely catch the main upward wave in the next bull market, the key is not to try blindly but to break down complex market conditions into executable, risk-controlled strategies. Blind exploration only repeats past pitfalls. Fewer pitfalls, more profits, and a steady landing — this is the right path in the crypto world.