From FOMO to Discipline: The Journey of Rebirth After Asset Collapse

That night, the light from the screen illuminated my pale face. Watching the numbers in my account gradually drop to zero, my mind went blank. The cigarette burned down to my fingers, scorching my skin, yet I couldn’t regain my composure. Six years of effort, ambition, and delusion… turned to smoke in a brief moment.
I entered the market at the end of 2018, just as the bear market was starting to pass. At that time, I brought a few hundred thousand USD, diving into altcoins with the mindset of a reckless gambler. Luck smiled upon me, and my account soared from a few hundred thousand to several million. I began to believe that I had “a gift,” that I had discovered the formula for wealth.
With the DeFi wave in 2020, I continued to dive into liquidity mining. My assets increased exponentially, reaching eight figures. Friends advised me to take profits, buy a house, and hold cash. But I ignored them. I thought this was just the beginning of my own “financial legend.”
The real turning point came at the peak of the next growth cycle. Greed clouded my judgment. Not only did I not take profits, but I also used leverage, thinking it would be a waste not to seize the opportunity. Then the collapse of a famous algorithmic stablecoin project dragged its ecosystem down from nearly a hundred dollars to almost worthless. Nearly half of my assets – around ten million – evaporated in just one night.
Before I could recover, at the end of that year, a major exchange went bankrupt. The remaining funds were stuck, and to this day, there has been no resolution. When my wife held our child, crying and saying, “If you keep going, this family is done,” I truly came to my senses. That statement hurt more than any account loss.
Valuable Lessons from the Market

1. Don’t Confuse Luck with Skill
   In a bull market, anyone can make money. Most profits come from the general trend rather than individual talent. What matters is not how much you earn in a rising market, but how much you have left when the market falls.
2. Leverage is Not Investing, It’s Gambling
   I have experienced the feeling of multiplying my account in a few days, and I have also witnessed it evaporate in an hour. Leverage contracts are designed to weed out most participants. The feeling of “getting rich quick” is just a sweet veneer covering deadly risks.
3. Asset Safety is Vital
   Small exchanges, unclear platforms – stay away. Assets not in your wallet are not truly yours. Currently, I only trust cold wallets and a few of the most reputable platforms. Preserving capital is always more important than seeking profit.
4. Family is More Important than Charts
   Investment money should be idle cash. I set a rule for myself: never use more than 10% of the family’s liquid cash for investment. When the market is volatile, I can still sleep peacefully.
   A Message for Those Who are Stuck
   If you are heavily “stuck,” don’t panic and cut losses in despair, nor should you blindly average down. If the project isn’t completely dead, sometimes patience is the best option. If losses cause you sleepless nights and severely affect your family, stop immediately. Health and family are always worth more than any “turnaround” opportunity. If you still want to continue, change your strategy: 50% in core assets, 30% in cash waiting for truly cheap opportunities, 20% for experimenting with new trends – and all must be idle cash.
   From the Dream of Quick Wealth to Sustainable Thinking
   Currently, I am still in the market, but my approach has completely changed. A portion of my capital is allocated to core digital assets, while the rest is distributed into safer channels and reserve cash. No leverage. No FOMO. I only check the market once a day.
   My goal is no longer “an overnight change,” but rather five years of kiên nhẫn, gradually filling in the deep hole I dug, making money realistically and sustainably.
   The market always cycles, and opportunities never disappear. But if you don’t change your mindset, you will only repeat old mistakes. Learning, managing risk, and sticking to principles – that is the long-term path in crypto.
   Follow for more updates on knowledge and practical insights, because in this market, knowledge and discipline are the most valuable assets.