Bitget Interviews Mi Ge, Peking University Trader: 9,000x Return Over Ten Years—Luck Sets the Upper Limit, Discipline Secures the Lower Limit
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Bitget Interviews Mi Ge, Peking University Trader: 9,000x Return Over Ten Years—Luck Sets the Upper Limit, Discipline Secures the Lower Limit
What keeps him going is not luck, but discipline—and an enduring curiosity about this market.
Navigating Web3 tides with focused insightsThe cryptocurrency market can create overnight wealth legends—or just as quickly dash investors’ hopes and drive them away. Few people manage to endure multiple bull and bear cycles in this market and remain for a full decade.
Today, we’re joined by Mi Ge, a seasoned Bitget user and professional trader who graduated from Peking University and entered the crypto market back in 2016. He weathered the ICO frenzy, survived multiple deep bear-market drawdowns, and achieved a 9,000x return over ten years—without ever leaving the market. He wasn’t the luckiest, but he’s among those who’ve stayed longest. What kept him here wasn’t luck—but discipline, and an enduring curiosity about this market.
A Peking University Alumnus Opens the Door: Ethereum Doubles in a Week, Changing His Career Trajectory
Mi Ge entered the crypto market at the urging of a friend.
While studying at Peking University, Mi Ge had never engaged in any form of trading. His financial habits were extremely conservative—he kept money in Alipay’s Yu’ebao fund, “thinking it was great to earn a few RMB every day.”
The turning point came in 2016. His childhood friend—a fellow Peking University alumnus well-versed in computer science—introduced him to Bitcoin and Ethereum. Ethereum had launched in 2015, and by 2016, the first wave of altcoin enthusiasm was already building. That same summer, an Italian friend of Mi Ge’s bought several ETH before returning to China, paying just €3–€4 per coin. By summer’s end, the price had surged three to four times.
“It wasn’t much money, but back then, almost everything you bought went up significantly—and also fell sharply,” his friend told him. “You should give it a try.”
The normally cautious Mi Ge decided to dip his toes in—allocating a few thousand RMB. Within a week, his position doubled, giving him his first real taste of cryptocurrency’s thrill.
He then downloaded dedicated apps aggregating Ethereum news and price data, and spent two full weeks researching. At the time, Ethereum’s core narrative was “a world-class decentralized supercomputer”—and the more he studied, the more fascinated he became. After finishing his research, he made what seemed at the time a bold decision: investing his girlfriend’s entire savings of 70,000 RMB into Ethereum—and holding through the massive 2017 bull run.
Notably, the childhood friend who introduced him to crypto took a completely different path—focusing on primary-market investments, joining Bitmain to lead its venture capital business, and even participating in the company’s IPO bell-ringing ceremony. “We went in totally different directions: I’m purely a secondary-market trader; he’s a primary-market investor. Two Peking University classmates—both sticking it out in the crypto industry. Pretty interesting.”
The ICO Frenzy and Unforgettable Drawdowns:
2017 was the most frenzied year across the entire crypto market. The ICO logic was brutally simple: as soon as a newly issued token listed on an exchange, it almost certainly rose. A single WeChat group announcement of a project whitepaper would instantly fill to its 500-member cap, with eager participants lining up to wire funds nonstop. “Back then, if a token only doubled, you’d feel disappointed—because top projects often gained at least 5x, many hit 10x, and the best performers soared 100x. Especially between May and October 2017—it was truly intoxicating.”
Mi Ge invested heavily in ICOs—and learned hard-won lessons: “For example, I’d often think the market might drop, so I’d close all my positions. Then I’d wake up to find prices up 30%–40%. Panicked by missing out, I’d rush to buy back in. I realized my mindset was completely unsound.” This experience taught him a crucial lesson: either don’t trade at all—or learn how to trade properly. From that moment, he began systematically studying candlestick charts and technical analysis, gradually applying real capital in live trading.
After the frenzy subsided, two major drawdowns followed in quick succession.
The first occurred on September 4, 2017, when China banned ICOs and shut down domestic crypto exchanges. The market plunged 50% within a week. For Mi Ge, that wasn’t even the worst part—many of the altcoins and ICO tokens he held dropped straight to zero. Overall, that drawdown wiped out 70%–80% of his portfolio. “Most of my friends left the space—maybe only my childhood friend, one other guy, and I remained. Everyone else was gone.”
The second drawdown hit in early-mid 2018. Many of the ICO projects he’d backed in 2017 collapsed: over half the teams vanished entirely; the rest stayed put—but their tokens failed to list on major exchanges, making them impossible to sell. “There were no DEXs back then—if your token didn’t land on a major exchange, you couldn’t cash out. That money simply disappeared.”
These two massive drawdowns, stacked atop each other, caused severe portfolio shrinkage—and nearly everyone around him exited. Yet Mi Ge stayed.
His Trading Methodology: Luck Sets the Ceiling; Discipline Sets the Floor
When asked about his trading methodology, Mi Ge puts it plainly:
“Luck determines your ceiling—how much you can make in one go. But discipline determines your floor—keeping you from going broke.”
Many see Mi Ge frequently posting trade calls and shouting “liquidated again!” on Twitter, assuming he’s a reckless gambler. But deeper conversation reveals a remarkably clear, disciplined position-sizing logic embedded in his system.
His core strategy is: use relatively small capital for derivatives trading; once the account reaches a certain size, immediately withdraw at least half. “I might turn tens of thousands of RMB into 50x in a month—then I’ll pull out at least half. The remaining half stays to keep trading—possibly getting liquidated, possibly doubling again. But as long as the withdrawn portion goes into a better investment vehicle, the overall result is positive.”
He admits he gets liquidated every year—sometimes every few months. “That’s normal. You’re betting small amounts on something extremely volatile. You must assume liquidation will happen—and prepare accordingly.”
In his view, spot accounts and derivatives accounts operate under two entirely separate logics.
“Spot trading is where accumulation happens—with high probability. Dollar-cost average into Bitcoin and Ethereum, and your holdings grow over time. As long as you believe in the macro trend, those accumulated assets will eventually pay off.” He even began setting up retirement funds for his parents years ago—buying Bitcoin weekly and allocating some Ethereum as long-term reserves.
Derivatives trading, however, is another matter entirely. “Derivatives are for short-term trades—and liquidation is assumed. Profits must be withdrawn by half. That’s non-negotiable.”
The withdrawn funds go toward dollar-cost averaging into quality assets—or buying physical gold. “Every month, I go directly to China Construction Bank to order a gold bar. That prevents me from impulsively converting it back into derivatives capital. Money sitting on an exchange isn’t yours; digits in your bank account are also abstract—you need to convert it into tangible things in life: buying a house, a car, or traveling with family. Only then does it truly belong to you.”
He sums up the fundamental difference between spot and derivatives in one sentence: “Spot builds wealth; derivatives chase outsized returns. These two activities must never be conflated.”
Forecasting Market Scripts: ‘Wild Guesses’—Scientifically Informed by Liquidity Sensing
Mi Ge has posted a widely circulated series of Bitcoin price predictions on Twitter—from $73,000 rising to $80,000, then falling below $60,000, later rebounding to $94,000, $74,000, and $137,000… While these forecasts span large magnitudes, they’ve often proven strikingly accurate—earning him broad attention and sparking considerable debate.
He responds with remarkable candor: “In a sense, they’re wild guesses. Predicting the future is always guesswork—I’m no oracle. But there’s logic behind them—a relatively scientific kind of guessing.”
His core analytical framework rests on the logic of liquidity capture.
“Bear markets are zero-sum games—the total pool of capital shrinks. When liquidity dries up and the market consolidates sideways at a given level for too long, it inevitably moves to an extreme to recapture liquidity—either surging upward to trap new buyers, or plunging downward to shake out weak hands, thereby reallocating liquidity.”
He illustrates this logic with a concrete example: “If overwhelming bad news—Trump, Iran, Israel—fails to push Bitcoin below $60,000, what does that mean? It means there’s insufficient fuel to drive further downside. The market needs to rise first—to lure in fresh long positions. Those traders will later get forced to liquidate during the subsequent decline, enabling a truly effective breakdown. So I say: first rise to $80,000, then break below $60,000. This isn’t arbitrary—it reflects judgment on market liquidity dynamics, backed by years of chart-reading experience and intuitive perception.”
Mi Ge also highlights November 3—the U.S. midterm elections—as a critical upcoming inflection point: “Before the election, authorities will likely try to boost equity markets. Once stocks take off, capital flows into crypto—and Bitcoin rises along with it. But beware: this rally may end prematurely, because insiders will have fattened up by then and front-run the move—trapping retail investors at the peak. So personally, I’ll start turning extremely cautious approaching October.”
Why He Chooses Bitget: Never Lagged During Major Moves
On exchange selection, Mi Ge gives Bitget a direct endorsement.
“Of all the exchanges I’ve used, Bitget’s app is the smoothest. During the major rally on October 11, other platforms choked and froze—but Bitget never lagged, never crashed. That’s critical.”
He shares his typical trade sizes: small positions range from 5–10 BTC; larger ones—50–100 BTC—are split into two or three tranches. “Liquidity is never an issue—slippage has minimal impact.”
Regarding fees, he notes that after VIP tier benefits are applied, “fees become virtually negligible”—a real cost saving for active traders.
Advice for Newcomers: Going Broke Twice Is Where Your Investment Journey Begins
In closing, Mi Ge offers several pieces of advice for newcomers.
First: Never borrow money to trade crypto. “Don’t use money you don’t have. Don’t take loans to trade crypto. It’s highly irresponsible—and carries enormous risk.”
Second: Keep spot and derivatives accounts strictly separate. “Use your spot account for dollar-cost averaging into quality assets and building wealth. Use your derivatives account for short-term trades—but assume liquidation is inevitable, and withdraw half of any profits.”
Third: Turn profits into tangible value. “Money sitting on an exchange isn’t yours. Even digits in your bank account are abstract. Unless you convert them into life’s pleasures—buying a home, a car, or traveling with family—that money remains virtual. Spending it on yourself makes it truly yours.”
Fourth: Taking profits is harder than cutting losses. “Learning to cut losses may take just one lesson. But learning to take profits? You may spend your whole life mastering it—because greed is human nature.”
He ends with a line that may distill his decade-long trading journey most succinctly: “I often say: going broke twice is where your investment journey truly begins. One bankruptcy may not be enough—you need to learn more.”
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