In 2016, I did something daring— I invested all of my savings of 80,000 yuan for my wedding house down payment into Bitcoin, which was priced at $450 each at the time. Filled with the mindset of "miss the opportunity and regret for a lifetime," I didn't expect that a year later, my investment would soar to 2.3 million. Watching my account balance in the Airbnb I rented in Chiang Mai, I truly believed I had reached the peak of my life.

The turning point came suddenly and cruelly. The power of the bear market exceeded expectations. By the end of 2016, my entire account was like a burst balloon, shrinking from 2.3 million to just 220,000. I had to carefully budget even for accommodation, and the cicadas outside the window sounded loud in my ears. That was when I truly understood how painful it is when the so-called "opportunity" crashes down.

Having experienced liquidation and being cut off many times, I gradually figured out four essential rules to follow:

First, never step into cognitive blind spots. I once heard that the metaverse land would appreciate, so I rushed in without understanding the logic, losing 220,000 in a week. The painful lesson told me that returns outside of my knowledge are destined to be illusory.

Second, proper position management is a must. Currently, 50% of my funds are in Bitcoin and Ethereum, 30% in cross-platform arbitrage, and the remaining 20% as an emergency fund. Last year, when Ethereum retraced to $1200, it was that 20% reserve that allowed me to buy more, and I didn't miss the rebound.

Third, I absolutely do not touch leverage. After experiencing a full liquidation on a futures contract, I learned my lesson and turned off the leverage feature on the exchange—it's not a profit amplifier; it's fundamentally a principal harvest machine.

Fourth, the ability to discern information is the most critical. Those pump-and-dump groups and influencer coin recommendations are traps. I only look at on-chain data and whitepapers. Before a platform's collapse in 2022, I sensed abnormal reserve data and withdrew my assets in advance, avoiding that risk.

Now, I no longer chase the thrill of rapid gains. I only seek a stable return of about 20% per year. This year, I have already achieved 18% of that goal. In the crypto world, being able to survive and make money is better than anything else. Many people are stuck in the fluctuations of ups and downs, not because they lack effort, but because they lack true clarity. The market is always there; finding your rhythm and understanding the market pulse is the foundation of long-term gains.