On February 12, 2024, Bitcoin returned to a high of $50,000 from its previous bottom of nearly $15,000. At that time, I had no coins left. Why, you ask? All I can say is, even if you let me freely trade my cryptocurrencies, I don't have the ability to "zero out," but FTX does! Oh, my money, taken away by a garbage exchange 🥲.
I entered the market during the $60,000 BTC period in 2021, and then experienced the crash on May 19 🤣. In the second half of the bear market, my girlfriend, Jellyfish Sister, expressed her desire to buy coins, so I helped her enter the market at around $40,000 for BTC and used a grid strategy called "Tian Di Dan." Grid is a tool for buying low and selling high to profit from volatility, but it cannot generate enough trend profits, which are the most important source of income. After that, BTC rose to a historical high of $69,000, followed by a bear market that lasted for over a year, with a low of just over $15,000, a drop of nearly 80%.
The experience of holding during a bear market was very poor, but because not all of the positions were in spot purchases, Jellyfish Sister's account only experienced a maximum drawdown of about 1/3. However, she couldn't bear or numb herself to such fluctuations, so she almost forgot about it and treated the money as lost.
I seemed too aggressive and casual with my trading account, so much so that I was always looking for the "Holy Grail" of trading. I tested trading strategies with programs, automated trading, and stepped on many common pitfalls, including strategy overfitting and inappropriate capital management. In comparison, I operated Jellyfish Sister's account very cautiously, not daring to trade recklessly, and chose the most stable and least appealing trading strategy.
After losing a lot of money, my money was taken away by FTX. But Jellyfish Sister's money was on another exchange and was spared. At this point, I had no intention of depositing more money, so I focused entirely on her account.
In early 2023, when the market bottomed out and BTC was priced at over $20,000, I miraculously felt the market reversing, and then almost fully invested the money in Jellyfish Sister's account into BTC and ETH. As you can see later, BTC entered a long climbing phase amidst people's doubts. It wasn't until a few days ago that Jellyfish Sister truly realized that she had made a profit of 50% on her initial investment.
"Damn, I'm selling tonight." - Jellyfish Sister, when BTC is about to reach $50,000
On February 12, 2024, BTC suddenly surged again, triggering Jellyfish Sister's fear of heights. This fear of heights seems familiar to me, but I don't know when the change happened. Now, I see this trend and have no fear of heights, and I am very confident that it will continue to rise. This change is also strange to me. At this point, I didn't listen to her and sell her holdings, but instead tried to alleviate her panic and said to her:
"Every time BTC rises by $10,000, I will mock you."
As I write this, on February 28, 2024, with BTC priced at $61,000, Jellyfish Sister's account has doubled its initial investment, and I have executed the first mockery. It hasn't even been a month since I said that sentence above. However, despite making a lot of profit, the huge volatility is still a psychological challenge for her to accept.
I find this experience very interesting, so I wrote it down here, and I am willing to update it every time I mock Jellyfish Sister - I hope I have the opportunity to update it.
# Mocking Log.log
2024-02-12 [INFO] BTC=49,000, Jellyfish fears heights
2024-02-28 [INFO] BTC=61,000, Mock Number 1, Jellyfish account gains +34%
2024-03-11 [INFO] BTC=71,000, Mock Number 2, Jellyfish account gains +23%