Do you guys know where I got liquidated at the end of 2018? It was in the second elliptical area. Back then, I was trading cryptocurrency-margined futures, not the perpetual contracts we have now. Binance didn't offer contracts then either. Then OKEx's futures price fell far below the spot price. Experienced investors should remember that, right? I guess nobody trades cryptocurrency-margined futures anymore… I was following the spot trading strategy at the time, and I felt it was quite stable to buy the dips at around 3,000, so I wanted to make more money and therefore used leverage.

Some novice investors always like to argue: "If you're so sure you're bullish, just go long on contracts!" or "If you're so sure you're bearish, just short on contracts!" I did it back then, and I even went around proclaiming that the bottom had been reached and it was time to buy the dips and dollar-cost average. But in the spot market, nothing happened; it's a completely different story with leverage. We can only confirm trends, but we can't, or at least not confirm a precise price every time. Only those who survive can have the last laugh.

I'm not a top-notch trader, and I'm well aware of that. I also understand the uncertainty of market conditions, which is why many highly skilled learners fail in investing. There are no standard answers in investing; every step requires you to tread carefully to discover the possible outcome, and even then, it's only a possibility. The answer can change, or even be completely reversed, due to unforeseen circumstances. Therefore, every step requires extreme caution.