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Venture Capital Partner Reflection: It is essential to consistently implement profit-taking, retain some assets for potential explosive growth, and maintain a long-term firm holding of BTC and ETH.

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Venture Capital Partner Reflection: It is essential to consistently implement profit-taking, retain some assets for potential explosive growth, and maintain a long-term firm holding of BTC and ETH.

This article summarizes the views of Kirby Ong, a partner at PetRock Capital, on his personal social media platform.

The article is authorized for reprint from BlockBeats, original article here. The following is a translation and summary by BlockBeats:

Here are my reflections on cryptocurrency, the lessons I've learned, and the advice I have for myself and others.

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In 2017, I bought ETH and BTC at a high point. I held onto them until mid-2018 when, due to a significant drop, I reluctantly sold both BTC and ETH for USD. In the long run, it is essential to hold onto BTC and ETH firmly.

Stick to Taking Profits Throughout

Before starting a 6-month job, I received a $50,000 payout in advance. Believing that these tokens would rise 100 times, I didn't sell them when they rose 20 times. To my surprise, after holding onto them for 6 months, I could only sell them at a 1x price. Every time it goes up, you should cash out 10-20%.

Try Everything Early

Before Curve Finance announced the retrospective airdrop of CRV, I provided liquidity to the platform simply because I highly appreciated their concept, and Michael Egorov is a giga-brain. As a result, I received a reward of 100,000 CRV (which was worth less than $3 at that time). Everything is worth a try.

Keep a Moonbag for Yourself

I sold all my YFI earned on yearn.finance when they were at $600. I thought I made quick money, which was nice. Little did I know, shortly after, YFI soared to $60,000 each. Keep a moonbag, retain 10-20% of the tokens, don't sell them all.

Take NFTs, for example, it's too late now. If someone had told me earlier, I would have minted several for each project. I minted a "Bored Ape" for 0.08 ETH and sold it when it was worth 1.5 ETH, feeling like a genius at the time. Now that same "Bored Ape" is priced at 150 ETH (100 times what I sold it for).

Build a Community with Like-Minded People

If, like me, you work full-time in the crypto industry, having people you can trust will be very helpful. Be kind to others, you never know what they are going through. Whether online or offline, make real connections.

Through Telegram, I have met various entities, projects, VCs, and trading platforms. I sincerely respect the PetRock Capital team led by Ronald. It's a VC based in Singapore with some of the hardest-working and kindest people I know in this field. I am fortunate to work with them.

Be Open to New Learning Opportunities

I thoroughly enjoy working with projects and companies like Raydium, Bybit, Euler Finance, SupraOracles, Hype, and learning from the best in this field. I am open to opportunities.

Over the past few months and years, I have suffered greatly:

  1. Selling BTC and ETH at historical lows
  2. In the Bitcoin flash crash last November, automated trading bots caused me a loss of $160,000, and options vaults caused me a loss of $60,000

The market won't spare you; as easy as it is to make money, it's just as easy to lose it. Although I haven't made a fortune like Darren Lau and many others in terms of fame and wealth, by the end of this cycle, I have some USDC, bought an apartment, and a car. I am grateful for this and remember my luck.

The next bull market will come, how will you prepare for it? For me, I will reflect on the past, hold and keep buying BTC and ETH, engage in personal projects and research new ones, and make new friends. Feel free to reach out to me on TG.

With diligence, kindness, hard work, and adaptability, I guarantee we will succeed someday.