That winter in 2016, I was jolted awake in the middle of the night by a trading app—Bitcoin had plunged straight down to 5,550 yuan. Staring at the measly 30,000 yuan left in my bank account and with next month’s rent still up in the air, my friend kept bombarding me on WeChat, urging me to buy the dip.

I told him honestly, “I really don’t understand those candlestick charts.” He replied with something I still remember: “Stop thinking about getting rich quick—survive first, then talk.”

Just because of that one sentence, I wired the money in. That kicked off eight years of grinding it out. There really are no secrets in this crypto space; every so-called “enlightenment” is bought with hard-earned money. Over time, I figured out a pattern: if the price falls like crazy and rises slowly, it’s probably a trap to fleece newbies; if the drop is slow and painful but rebounds sharply, that’s when there might actually be an opportunity.

In 2020, UNI fell from $8 all the way to $2.5, and everyone in the group was cursing nonstop. I just stuck to a dumb method—add to my position every 20% drop, and managed to get my average cost down to $3.1. The next year, it shot up to $40, and I sold everything—made 12x on that trade.

But what scares me most are two scenarios: when things are insanely hot, and when they’re dead quiet. In 2021, Dogecoin was everywhere, but I noticed on-chain data showing that trading volume had been shrinking for a week. I got out without hesitation, and three days later it got cut in half. Back in 2018, BTC was grinding sideways at $3,200 for two weeks, with trading volume so low it was alarming. I made a point of buying $100 every day no matter what; after six months, my average cost was under $4,000, and I rode that next big surge comfortably.

After eight years, I’ve realized one thing: when you think you know it all, you’re probably close to getting liquidated. But when you can admit “I don’t know,” that’s when you start getting the hang of it. My current strategy is simple—if I don’t understand, I don’t touch it. I stick to my plan mechanically and don’t let emotions get in the way. I used to be clueless, but now at least I have a guiding principle: “survive first, then make money.” It helps me stay steady through the volatility.

This crypto space isn’t a casino where you just bank on luck. It’s about knowledge and patience. Hold onto the bottom line of survival, don’t look for shortcuts, and don’t get swept up by emotions—only then can you go the distance in this market and earn with peace of mind.