Ten summers ago, I took the plunge and bought my first Bitcoin, embarking on an extraordinary journey in the world of Crypto Assets. During this time, I experienced three market cycle transitions, with emotions fluctuating accordingly, from initial excitement to later disappointment, and now to rational reflection. I gradually came to understand the essence of investing in Crypto Assets.

The bull market in 2017 caused my asset value to soar, while the bear market in 2022 nearly made me lose everything. These experiences made me deeply realize that: the market is always in a cycle, and one must remain vigilant when enthusiasm arises, while also seeing hope when despair looms. Those veterans who can survive in this market understand that managing capital positions reasonably is more important than mastering technical analysis; never invest all your funds, and never borrow to invest.

In my opinion, the core of Crypto Assets investment lies in three aspects: first is survival capability. Everyone can make money in a bull market, but the real test is in a bear market. Maintaining core positions is more important than short-term profits. Second is monetizing knowledge. You can only truly make money within the scope of your understanding; even if you make a lucky profit, without sufficient cognitive support, you will ultimately incur losses. It's more valuable to deeply study the fundamentals of a project and understand its technical logic than to merely look at price trends. Finally, it's about reverse thinking. Gradually build positions when the market is quiet, and timely reduce positions when the general public is in heated discussions.

Risk control is the most important aspect of investment: the investment in a single coin should not exceed 20% of the total position, and a certain amount of cash reserves should always be maintained. At the same time, establishing a clear investment framework is also crucial: clearly define the allocation of funds for long-term investments and short-term trading, and do not change established plans due to short-term market fluctuations. In addition, continuous learning is also essential: from Bitcoin to decentralized finance, from non-fungible tokens to the metaverse, this industry is constantly evolving, and clinging to old perceptions will inevitably lead to obsolescence.

Looking back at the investment experience of the past decade, the most valuable gain is not the numbers in the account, but the investment discipline formed and the awe of market rules. Remember: making money in a bull market is just a process; surviving in a bear market is the true success. In this always-on market, sometimes staying on the sidelines is wiser than acting rashly; patience may be the highest form of investment wisdom.

Now, I have grown from a novice groping in the dark to an experienced person holding a bright lamp. This lamp will continue to illuminate my investment path, and I hope it can also guide more people.