CZ self-assessed that "All In Bitcoin was a mistake" in 2014: This strategy is not recommended

Here is the English translation: In the financial market, there is a well-known money-making rule "buy low, sell high", but this rule is easier said than done, as no one knows where the market's bottom is, let alone the top. On social media platforms, users have stated that every person they know who got rich through cryptocurrencies did two things during the bull market: 1. They bought the dips 2. They took profits during the uptrend This seemingly obvious financial common sense has prompted a response from Binance founder CZ. CZ self-evaluates that his decision to buy Bitcoin in the 2014 dip was a mistake CZ commented under the post: "I finally understand how I messed it up back then. 😂 In 2014, I bought Bitcoin at the start of a long-term bear market. I didn't have more fiat to buy the dips, so that didn't work; the bear market was too long to take profits, so that didn't work either. The end result was still okay, but I absolutely do not recommend my strategy. 😂" Additionally, CZ mentioned that he only bought Bitcoin once during the bear market. Summarizing CZ's response, it can be inferred that CZ likely "All In'd" on Bitcoin in the early stages of the 2014 bear market, and did not have additional funds to continue buying the dips as it fell further. CZ's "buy the dips" plan estimated to have gained 15,000% Recapping, Bitcoin saw a massive rally at the end of 2013, followed by a prolonged downtrend in 2014. Based on the author's estimation, CZ's Bitcoin dip-buying period was likely between January 2014 and March 2014, with an average price of $650. After that, Bitcoin dropped as low as $172 until the uptrend resumed in September 2015. During this bear market, CZ's Bitcoin position may have declined by as much as 75%. Furthermore, calculating based on Bitcoin's current value, if CZ had held onto this asset until now, his returns could have reached as high as 15,000%.