The past of the currency circle: the mental journey of an old leek in the currency circle
In this issue, a freelance investor with the pseudonym "W" shared his story, let's see what help this old leek in the currency circle can bring to you.
In the last issue, Encryption Notebook shared with you the story of how an IT technical man entered the currency circle. In this issue, a freelance investor named "W" shared his story. Let's take a look at this veteran of the currency circle. What kind of help will the experience of being cut of leek bring to you?
The following is W's readme, and the encrypted notebook has been sorted out without changing the original meaning:W in this article entered the currency circle in 2017. In 2017, the currency circle experienced a bull market. The myth of "getting rich overnight" attracted a large number of people scrambling to join in token investment. Countless capital, media, and projects have flowed in, and tokens have become the cusp. W is no exception to be attracted to this investment frenzy.W, who just entered the currency circle, did not want to take too much risk because of lack of investment experience. After some research, W decided to start with Bitcoin. Stimulated by the stories of his net worth exceeding millions, tens of millions, and hundreds of millions, W entered the currency circle with a hundred times, a thousand times fantasies. What he didn't expect was that this investment did not realize his dream of "getting rich overnight". Make him "lost everything".Shortly after W bought Bitcoin, the "94 incident" came oncoming, and the digital currency market was full of grief.On September 4, 2017, seven departments, including the Central Bank, Cyberspace Administration of China, Ministry of Industry and Information Technology, State Administration for Industry and Commerce, China Banking Regulatory Commission, China Securities Regulatory Commission, and China Insurance Regulatory Commission, took action to officially stop ICO financing. The seven-department notice pointed out that no organization or individual may illegally engage in token issuance financing activities, and all types of token issuance financing activities should be stopped immediately.As soon as the announcement was made at 3 p.m., the price of exchange tokens fell all the way. Among them, the tokens issued through ICO financing fell the most, and several tokens fell below the issue price, with a maximum drop of more than 90%. Bitcoin fell by 8% on the day of 94, and the lowest price was $4331; in the following week, Bitcoin continued to fall by 30 points, and the lowest price fell to around $2980.W, who just entered the market, has never seen such a big drop. After thinking twice, W decided to reluctantly cut his flesh and leave the market, and his assets shrank by half in this turmoil. For retail investors and small projects at the bottom of the currency circle, the blow brought by 94 is devastating. "Do you need to recharge your faith?" became the most common sentence that coin friends met and chatted at that time. W's belief in cryptocurrency has also been shaken because of this heavy loss.However, after rational analysis, W quickly got out of the pain caused by 94. W said: "It happened suddenly, the digital currency market itself is unpredictable, and I just stepped into the currency circle, and my own experience was indeed insufficient. At that time, the exchange Closed, and I didn’t know there was a special Bitcoin wallet besides the exchange. Coupled with the spread of panic in the market, I was also affected by some outside influences, and finally chose to cut the flesh. If I knew something at the time, I should have returned If you will continue to hold bitcoins, the situation will be different. 94 is a disaster, but not necessarily. By the end of 2017, the price of bitcoin was as high as 20,000 US dollars, nearly four times higher than the price of bitcoin before the 94 regulation. And I learned the hard way because of my lack of trading experience.”After the 94 incident, the encryption market did receive a lot of shocks, but on the whole, it also changed the phenomenon of token issuance projects being broken, cheating investors, and various pyramid schemes and air coins, changing the chaos and confusion. Dirty crypto market. In addition, at the end of 2017, driven by foreign markets, a new bull market for digital currencies emerged. This allowed W to regain confidence in the digital currency market.W said: "The digital currency market is of course risk and wealth coexist. After experiencing the 94 incident, I feel deeply about this. High risk is accompanied by high return. If you want to obtain wealth, you have to accept the risks you face. Therefore After that, I also started to focus on systematic learning to reduce the possible risks.” Although W has been cut off many times in the following years, W still has confidence in digital currency, and through continuous improvement Use your own soft power to resist risks in the market.W also recommends that novices should combine their own ability to invest when they first enter the currency circle. There are not a few people who end up going bankrupt with the dream of getting rich overnight. High risks and high returns are also the charm of the digital currency market, but you When you are unable to take risks, you must not go up and give it a go. When you first enter the currency circle, you must not only learn how to make money, but also learn how to avoid risks.
