Bitget Dialogue with Peking University Trader Brother Mi: 9,000x Return in Ten Years, Luck Sets the Ceiling, Discipline Sets the Floor

Today, we have invited Bitget veteran user Mi Ge, a professional trader who graduated from Peking University and entered the 암호화폐 market in 2016. Having experienced the ICO frenzy and multiple deep bear market retracements, achieving a 9000x return over ten years, he has never left this market. He isn’t the luckiest one, but he is among those who have stayed the longest. What kept him going wasn’t luck, but discipline – and an unwavering curiosity about the market.

A Peking University Alumni Led the Way; Ethereum Doubled in a Week, Changing a Career Path

Mi Ge’s entry into the crypto market was driven by a friend.

During his time at Peking University, Mi Ge had never engaged in any form of trading. Instead, his investment style was extremely conservative – “keeping money in Alipay’s Yu’ebao,” thinking “getting a few yuan daily was pretty nice.”

The turning point came in 2016. His childhood friend – also a Peking University alumnus, proficient in various computer technologies – mentioned Bitcoin and Ethereum to him. Ethereum had just launched in 2015, and 2016 saw the first wave of altcoin hype. That same summer, an Italian friend of Mi Ge’s bought a few Ethereum for a few euros each before returning home. Over the summer, the price tripled or quadrupled.

“It wasn’t much money, but back then, whatever you bought went up a lot and down a lot too.” The friend told him he should give it a try.

The usually conservative Mi Ge decided to dip his toes in, investing a few thousand yuan. It doubled in a week, showing him the excitement of cryptocurrency.

Afterwards, he started downloading apps aggregating Ethereum news and market data, researching for two full weeks. At that time, Ethereum’s core narrative was “the world’s decentralized supercomputer,” and the more he researched, the more interesting he found it. After his research, he made a decision that seemed quite bold at the time – he invested all of his girlfriend’s savings, 70,000 yuan, into Ethereum, holding until the 2017 bull market.

It’s worth noting that the childhood friend who brought him into the space later took a completely different path – delving deep into primary market investments, joining Bitmain to handle its VC business, and even participating in the company’s IPO bell-ringing ceremony. “We went in completely different directions; I’m purely a secondary market trader, he’s into primary investments. Two Peking University classmates, both persevering in the crypto industry – interesting.”

The ICO Frenzy and Unforgettable Retracements:

2017 was the craziest year for the entire crypto market. The logic behind the ICO craze was brutally simple: a project’s newly issued token almost always went up once it hit an exchange. Post a project whitepaper in any WeChat group, and it would instantly become a full 500-person group, with everyone scrambling to send money and subscribe, filling up the queue endlessly. “Back then, if whatever coin you invested in only doubled, you’d be disappointed – because most good projects did at least five times, many did ten times, and the really exceptional ones did a hundred times. Especially between May and October 2017, it was really intoxicating.”

Mi Ge also invested in a large number of ICO projects and learned many trading lessons: “For example, I often felt the market might drop and cleared my entire position. Then I’d wake up and find it had gone up 30% to 40%. Panicking after missing the move, I’d frantically buy back in. I realized my mindset was completely wrong.” This experience made him realize: either don’t trade, or seriously learn how to trade. From that moment on, he began systematically studying candlestick charts, starting with technical analysis, and practicing slowly with real funds.

After the frenzy, two retracements followed.

The first was on September 4, 2017. China announced a ban on ICOs and exchange operations, causing the market to crash 50% within a week. For Mi Ge, this wasn’t even the worst part – many of the altcoins and ICO tokens he held went to zero, resulting in a total retracement of 70-80% for that cycle. “Most of my friends left the space; probably only my childhood friend, another guy, and I remained from the circle. Everyone else was basically gone.”

The second was in the first half of 2018. The ICO projects he had bet on in 2017 started failing one after another: over half the teams simply ran away with the funds, and the other half, while not fleeing, saw their issued tokens never get listed on major exchanges, making it impossible to cash out. “There were no DEXs back then. If you weren’t listed on a major exchange, you couldn’t get your money out. That money was just gone.”

These two major retracements combined caused a massive shrinkage in his assets, and almost everyone around him left. But Mi Ge did not.

Trading Methodology: Luck Determines the Ceiling, Discipline Determines the Floor

When discussing his trading methodology, Mi Ge puts it clearly:

“Luck determines your ceiling – how much you can make in one move. But discipline determines your floor; discipline ensures I don’t go bankrupt.”

Many see Mi Ge’s high-frequency calls on Twitter, often accompanied by “liquidated again,” and assume he is a reckless gambler. However, a deeper conversation reveals a remarkably clear position management logic within his trading system.

His core strategy is: use relatively small capital for futures trading. Once the account reaches a certain size, immediately withdraw at least half. “I might start with tens of thousands of yuan and achieve 50x in a month. Then I’ll withdraw at least half. The remaining half continues to trade – it could get liquidated, or it could double again. But as long as the withdrawn half goes into a better investment vehicle, the overall result is a win.”

He admits that he gets liquidated every year, sometimes even several times within a few months. “It’s normal. You’re using very small capital to bet on an extremely volatile asset. You have to assume liquidation will come and be prepared for it.”

In his view, spot accounts and futures accounts operate on two completely different logics.

“Spot trading is where accumulation happens. If you consistently dollar-cost average into Bitcoin and Ethereum, your coin count will keep increasing. As long as you’re bullish on the big cycle, these accumulated holdings will eventually pay off.” He even started building a retirement fund for his parents years ago, buying Bitcoin weekly and allocating some to Ethereum as a long-term asset reserve.

Futures are a different story. “Futures are more for short-term plays. You assume it will get liquidated, so if you make a profit, you must withdraw half. That’s an iron rule.”

The capital he withdraws is used for dollar-cost averaging into quality assets, or buying physical gold. “I order a gold bar directly from China Construction Bank every month. This prevents me from impulsively turning it back into futures trading capital. Money sitting on an exchange isn’t yours, and numbers in a bank account are also just digits. You have to convert it into real things in life – buy a house, buy a car, travel with family – that’s what truly belongs to you.”

He sums up the essential difference between spot and futures trading in one sentence: “Spot trading is for accumulating wealth; futures trading is for chasing excess returns. These two things cannot be confused.“

Predicting 시장 Scenarios: The “Relatively Scientific Guessing” Behind the Capture of Liquidity

Mi Ge has a series of widely circulated Bitcoin price predictions on Twitter, from 73,000 rising to 80,000, then falling below 60,000, then to 94,000, 74,000, 137,000… These predictions have often been remarkably accurate on a macro scale, earning him a large following and also considerable controversy.

He is surprisingly candid about this: “To some extent, it’s guessing. Predicting the future is always guessing; I’m not a god. But there is logic behind it – it’s relatively scientific guessing.”

His core analytical framework is built on the logic of liquidity capture.

“A bear market is a zero-sum game; the overall pool of money is shrinking. When liquidity is insufficient and the market oscillates at a certain level for too long, it inevitably has to go to an extreme point to capture liquidity. It either pumps up to trap a batch of longs, or dumps down to shake out a batch of holders, completing a redistribution of liquidity.”

He gives a specific example to illustrate this logic: “If, amid a barrage of bad news – Trump, Iran, Israel fighting like that – Bitcoin can’t break below $60,000, what does that mean? It means there isn’t enough fuel for it to continue falling. The market needs to pump first to trap some longs, so these people are forced to cut losses in the subsequent drop, enabling an effective decline. That’s why I said, first rise to $80,000, then fall below $60,000. It’s not random; it’s based on understanding market liquidity dynamics, plus years of experience and feel from chart reading.”

Mi Ge also pointed out that the U.S. midterm elections on November 3rd will be a very important time node: “Before the elections, they will likely try to make the stock market perform well. If the stock market takes off, funds will flow into the crypto market, and Bitcoin will also rally. But be careful, this wave of market movement might end prematurely because the big players will already be very profitable by then and will jump the gun, leaving retail investors trapped at the top. So, approaching October, I personally will start being very cautious.”

Why He Chooses to Trade on Bitget: Never Lagged During Major Market Moves

Regarding his choice of trading tools, Mi Ge gave a direct assessment of Bitget.

“Among all the exchanges I’ve used, Bitget’s App is the smoothest. For example, during the major market move on 10.11, other platforms lagged terribly, but Bitget didn’t lag or crash even once. That’s crucial.”

He revealed his usual trading volume: small positions of 5 to 10 BTC, large positions of 50 to 100 BTC bought in two or three batches. “Liquidity is absolutely no problem; slippage isn’t a major concern.”

Regarding fees, he also mentioned that with the VIP rate stacked, “fees are essentially negligible” – which for a trader is a tangible cost saving.

Advice for New Entrants: Going Bankrupt Twice is Just the Beginning of an Investment Career

At the end of the interview, Mi Ge shared a few pieces of advice for newcomers.

First, never borrow money to trade crypto. “Don’t use money you don’t have. Don’t take out loans to trade. It’s extremely irresponsible behavior with massive risk.”

Second, manage spot and futures accounts separately. “Use your spot account for dollar-cost averaging into quality assets to build wealth. Use your futures account for short-term plays, but assume it will get liquidated, and if you profit, you must withdraw half.”

Third, turn your profits into real things. “The money on your exchange isn’t yours. The money in your bank account is also just digits. If you don’t convert it into life’s pleasures – buy a house, buy a car, travel with family – that money is virtual. Spending money on yourself is what truly makes it yours.”

Fourth, taking profit is harder to learn than cutting losses. “Learning to cut losses might just take one painful lesson. But taking profits – you might be learning that your whole life. Because greed is inherent.”

He ended with one sentence that might be the most concise summary of his 10-year trading career: “I often say, going bankrupt twice is just the beginning of an investment career. Going bankrupt once might not be enough to really learn the lessons.“

이 글은 인터넷에서 퍼왔습니다: Bitget Dialogue with Peking University Trader Brother Mi: 9,000x Return in Ten Years, Luck Sets the Ceiling, Discipline Sets the Floor

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