0.5 BTC, One Fall and a Thousand Lessons for Crypto Players

Thinking back to the early days when I first entered the cryptocurrency market, I still feel the excitement as if it were just yesterday.

At that time, I was still a warehouse worker, my back soaked with sweat all day amidst shelves and cardboard boxes. But every evening, I would sneak into an internet café, fixated on the computer screen, glued to those colorful K-line charts.

After a year of saving, I managed to gather 30 million VND. When Bitcoin had just surpassed $3,000, I gritted my teeth and bought 0.5 BTC. My heart pounded, my mind filled with dreams of “financial freedom.”

In the beginning, everything seemed wonderful. In just three months, Bitcoin rose from $3,000 to $3,500. I watched the price closely every hour, even eating without taking my eyes off the screen. People around me advised me to take profits, but I ignored them: “The market is just starting, how can I sell now?”

When Bitcoin reached $6,000, the entire community was buzzing. Everyone was showing off their profits, quitting jobs to travel, shouting about “financial freedom.” I got caught up in it too, deciding to wait until $7,000 to sell.

But the market waits for no one. The MenTouGou collapse happened, and Bitcoin plunged from $6,000 straight down to $4,000. I consoled myself that this was just a “temporary shakeout.” Two days later, staring at my blood-red account, I panicked and hurriedly sold at $4,000.

In the end, I only made a profit of 5.1 million VND, but I watched in regret as Bitcoin later surged to new highs. On those following nights, I lost sleep, asking myself: “The biggest loss in this market isn’t the money lost, but the missed opportunity to take profits.”

After that shock, I resolved to change:

Record every trade: I documented the reason, process, and outcome of every buy and sell order, learning from each step.

Set strict rules for taking profits and cutting losses: When I hit my target, I took profits; when I reached my risk threshold, I accepted the loss. No hesitation, no regrets.

Manage capital: Never go all-in, always minimize risk from a single bad trade.

Give up leverage: Leverage is a double-edged sword—it can multiply profits, but also amplify risks.

From a greedy player, I became a rational trader. The most valuable lessons didn’t come from books or mentors, but from the very losses I experienced myself.

Looking back now, 0.5 BTC isn’t much, but it taught me the crucial principle of the crypto market: “Only those who survive in this market are worthy of talking about getting rich.”

For those of you new to the market, take this as a warning: Don’t repeat my mistakes. Instead of chasing the dream of “getting rich overnight,” learn to be patient, disciplined, and manage risk.

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