Sleeping during the day, playing PUBG at night, sometimes wandering around the company during the day, just drifting through life until December. The crypto market is heating up again, Bitcoin is about to break 100,000 RMB, that's terrifying. I still remember on September 15th during the cleanup it was just over 10,000 RMB, and now in just two months, it's 100,000... Shouldn't I hurry back to short? I looked for the old QQ group from back then, and people kept saying the old exchange rebranded and came back, also sharing some tutorials on how to log in and open accounts. OK China is dead, now it's all OKEX, and during this time Binance has slowly risen to become number one. No hesitation, I started depositing funds directly, the era of USDT has officially arrived! To deposit, you first buy USDT or buy coins directly, no longer the old way of depositing RMB to buy coins. Back then, it was all coin-margined trading, OK had no perpetual contracts, only coin-margined weekly or quarterly contracts. Seeing everyone making such gains, shouldn't I short LTC? All coins are rising so much, gotta find a soft target, LTC was also rising a lot at that time. When I came back, it had already surged to 1500 RMB, previously it had dropped to about 150. Suddenly I got motivated, targeting this "soft target." This time back, leverage could be set higher, OKEX always had 20x leverage, and there were more options now, including ETH contracts. Starting directly at 10X, shorting LTC. Opening position at 1500. What? This market isn't going the way I want at all, why is it still rising? Then stop loss, short, stop loss, short. Out of money, just begging.

The big event in August came quickly: the BTC fork happened. BCC was born (different from the current BCH). From the news, it was all about big blocks. As a complete newbie, I didn’t understand any of the technical terms; I only knew that holding one BTC would give you one BCC. Some exchanges had already listed BCC in advance, with prices as high as 3500-5000 in my memory. Eventually, it dropped to 1500-2000 and stabilized. Bitcoin’s quarterly contracts also had a -10% premium. On the day of the fork, the market went completely out of control. Bitcoin went crazy, surging more than 10 points, and futures prices even rebounded sharply, surging 20 points and breaking through the new 20,000 high. Looking back, that period was insanely wild. My account finally reached 32,500, with total profits close to 3,000 yuan. I withdrew, ate, and went to Wangpin for the first time. But Bitcoin kept hitting new highs, so why didn’t my ETH rise much? (Now I understand, the king coin’s rise sucked all the liquidity and attention to BTC.) Is this going to crash again? Then I thought, I should short it quickly. At that time, OKEX didn’t have ETH futures yet, so I searched online and found a site called BitStar that specialized in ETH futures. It was also a coin-margined contract but with poor depth, which was enough for me with only 10,000 yuan. So I went for it, bought 7 ETH, transferred them to BitStar, and opened a short at the current price. Then something magical happened: ETH started to slowly climb, slowly meaning a few points increase every day, sometimes even more than ten points.