Liquid Capital founder JackYi said he remains constructive on Bitcoin after a modest pullback, adding that a further move down toward $75,500 would present what he described as a good new opportunity. In the post, he said the recent dip was in line with his expectations and that he still expects gains after limited corrections.
JackYi also used the post to reflect on his own history in crypto and on the difficulty of both investing and trading. He said he entered the sector in 2015, when BTC was near lower levels, through mining, and later made successful investments including Qtum before participating in the 2017 bull market. He wrote that the outcome was "completely luck," though he had believed at the time that it reflected skill, partly because he had previously seen results in traditional-industry entrepreneurship and investing.
He added that he later invested in hundreds of projects, with most failing and only a smaller portion succeeding. As investment opportunities became scarcer, he said he started studying trading more seriously and came to view trading with greater respect. Summing up the risk, he wrote that being right nine times in a row can still be erased by a single loss on the tenth trade.
Liquid Capital founder JackYi said in a post that Bitcoin’s latest mild pullback was pretty much what he had been expecting. And if BTC pushes the correction down toward about $75,500, he said that zone would be "a very good new opportunity" ("hen hao de xin ji hui"), while he still stays bullish on further upside after only a limited retreat.
JackYi also talked about how hard investing and trading really are. His words were blunt: "Investing and trading are the hardest things."
Looking back at his own path, he said he got into crypto in 2015, when BTC was trading at lower levels, and started out in mining. Later, he made successful investments, including Qtum, and he also rode the 2017 bull market. But he said that result was "completely luck" ("zhe wan quan shi yun qi cheng fen"), even though at the time he thought it was skill because he had already had success in entrepreneurship and investing in traditional industries.
He then said he went on to invest in hundreds of projects. Most failed. A smaller portion worked out. So, as investment opportunities dried up, he said he pushed himself to study trading seriously and came away thinking trading deserves even more respect.
On trading, JackYi wrote: "You can be right nine times in a row, and then the tenth loss takes you back to square one" ("jiao yi cheng gong lian xu dui 9 ci, di 10 ci shi bai jiu hui dao jie fang qian.").
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