#大户持仓动态 The summer of 2020, I found myself in a predicament—my renovation business had completely collapsed, and a debt of 500,000 yuan pressed down like a mountain, leaving me with only 50,000 yuan in my pocket. In utter despair, I stayed in an internet cafe for three days and nights, frantically studying materials and calculating probabilities. In the end, I made the riskiest decision of my life: to bet all 50,000 yuan, buying 9 bitcoins at an average price of 6,000 yuan each. This was my final gamble.

The turning point came quickly. That winter, Bitcoin soared 16 times over the year, turning 50,000 yuan into 820,000 yuan in an instant. I started fantasizing about selling my house to add to my position, thinking I had discovered a money-printing machine. But in 2018, the bubble burst. Overnight, the market lost three-quarters of its value, and 820,000 yuan dropped to 190,000 yuan. That night, sitting in front of the ATM watching my balance, I finally understood—profits are fleeting, and all the glamour is an illusion.

Starting from 2022, I stopped chasing quick gains and losses. I shifted to hosting mining rigs and liquidity mining, sticking to this strategy for three years. My account steadily grew to 2.8 million yuan. Someone asked me how many 100x coins I had caught, and I just smiled and said: surviving in the crypto world is the only qualification to talk about making money. Risk control is the only bottom line.

These years of ups and downs have led me to summarize three simple yet brutal survival rules:

**Principal is life.** When new coins enter the market, take out the principal after it rises, and let the remaining profit continue to grow. Even in a sharp decline, it won't hurt the core.

**Cognition is the boundary.** Never touch what you don't understand. Opportunities are never lacking; most opportunities that aren't yours are traps.

**Position is the shield.** Strictly follow asset allocation (stable assets, potential targets, high-risk bets, cash reserves proportionally distributed). Even in a bear market, drawdowns can be kept within an acceptable range.

During a bull market, don't be impulsive; during a bear market, don't panic. The true winners in the crypto space are never those chasing highs, but those who stick to discipline and protect their principal. Opportunities are always there, but they only favor those who survive long enough.

Whether you want to grow your capital with your principal or confidently seize the next market rally, the key is not reckless action but breaking down complex market conditions into executable strategies and building your own trading system. Avoid pitfalls, think more—this is the right path to success.