In October 2023, HTX selected the third candidate Feng for space travel under its Mars Program. As planned by this program, one candidate will be selected each month, and thereby twelve candidates will be shortlisted in total to be evaluated based on their physical fitness, training and preparation, community contribution, etc., to determine the eventual passenger for space travel with Justin Sun, founder of TRON. Here’s the story about our third Mars Program candidate, Feng.
A lucky space fan who gets the opportunity to break free from gravity and gaze at the stars
This time, it’s the Mars Program during HTX’s 10th anniversary celebrations, and the rewards are much more generous. In addition to a $6 million space flight ticket, the winner is entitled to a round trip on Justin’s private jet and the latest Tesla Model 3 (distributed in the form of 20,000 USDT and 20,000 USDT in futures trial bonuses). There were a lot of participants in this round, and I was eagerly waiting for the livestream to start. It was really a surprise that I won. Just thinking about having the chance for a space trip with Justin gets me excited. I’m so lucky. I’ll buy a camera and take lots of photos during the trip. Also, since the environment in space is different from Earth, I want to bring various flower seeds to see what changes could happen. Or…” When asked about his feelings about winning, Feng was overjoyed, sharing his dreams.
“Lastly, I really appreciate HTX for giving me the chance to break free from gravity, soar into the sky, venture into space, and catch a glimpse of the stars,” Feng concluded with a heartfelt gratitude. Indeed, the opportunity to journey into space and set off for Mars sounds unbelievable for most. However, for space enthusiasts, it represents an exhilarating exploration.
A skilled independent trader who profited from the “Mar 12” and “May 19” market crashes
When talking about his experience in the crypto market, Feng highlighted the events of March 12, 2020, and May 19, 2021, during which he profited by capitalizing on market crashes. While past market conditions may not be replicable, Feng’s insights offer valuable lessons.
In 2020, the global financial markets underwent a range of unprecedented incidents due to the impact of the COVID-19 pandemic. Stock markets worldwide plummeted in early March, with major ones experiencing drastic volatility and some even triggering circuit breakers. Meanwhile, the pandemic-induced reduction in demand led to a historic crash in oil prices in April. The West Texas Intermediate crude oil futures were even priced negatively, meaning traders had to pay for taking delivery of oil. To mitigate the economic repercussions of COVID-19, central banks implemented extensive monetary easing and stimulus measures.
“When the ‘March 12 incident’ occurred, we were playing cards together due to the pandemic. I placed orders at low prices, and to my surprise, they all got executed,” Feng spoke with great enthusiasm about this epic crash that changed his life. What struck me the most during the interview was that Feng had gone all-in with USDT at that time. In subsequent discussions, he revealed the reason behind this decision, “In 2019, I made some money through IEO. Bitcoin’s surge from around $3,000 to $10,000 was quite profitable for me. In 2020, I was stuck at home due to the pandemic, so I cashed out my cryptos for security. I placed orders because I believed that mainstream cryptos like Bitcoin and Ethereum could also drop by 50% in the event of a “black swan.” If they did drop and I grabbed the chance, it would be like winning the lottery. According to my experience, they would eventually rebound. Well, I’m only referring to Bitcoin and a few others.”
When Bitcoin hit $10,000, Feng didn’t succumb to greed but instead considered his livelihood. When the market plunged, he didn’t panic but unwaveringly followed his experience. It all seemed to flow naturally, and Feng might be lucky, but what he did was indeed remarkable. How many people ended up with nothing because they wanted to earn a little more? How many opportunities did they miss because they adopted a wait-and-see approach? Feng appears to be one of those skilled independent traders who comprehend the saying, “I panic when others are greedy; I’m greedy when others panic.”
“When the market crashed on May 19, I bought DOT without hesitation and sold it on the rebound,” Feng shared another successful move that significantly increased his assets. “Why did you choose DOT?” I asked out of curiosity. “I had bought DOT earlier and staked it at $5. It later soared to over $40 before I decided to sell. I was familiar with this coin, so I kept an eye on it. Moreover, the market was bullish at that time, and it experienced a sharp decline due to negative news. Based on my experience, a rebound was highly probable later on. I mean, during a bull market, if such a drop occurs,” Feng generously offered another invaluable tip.
In the realm of crypto investment, it’s essential to recognize that while your initial move may not capture all potential profits, the subsequent rebounds, although quite common, seldom endure. Feng seized the rebound and sold his assets in time, demonstrating his remarkable wisdom. During the prior bull market, many institutions believed that the uptrend would persist. Still, they ended up desperately defending their positions, resulting in disastrous outcomes.
Don’t go all-in and expect to make money effortlessly
The crypto market offers numerous opportunities and innovations. However, most merely seem innovative at first glance and are prone to catastrophic failures when faced with a bear market, leading to a flood of complaints about speculation and scams. So, how did Feng manage to shield his assets from exploitation during these bearish market conditions that often persist longer than bullish periods?
”Perhaps everyone has their unique trading habits. I don’t know much about the hot topics or tokens, so I focus on mainstream coins, which reduces the likelihood of falling into traps,” Feng said. He continued, “Many people invest in tokens to reap high profits, but high profits often come with high risks. The crypto industry is still in its infancy, and in a sense, there are indeed many junk projects. However, the industry has never ceased to innovate. It takes many trials and experiments for a new technology to go from the lab to practical applications. It’s unfair to condemn the entire industry just because some projects fail.”
So, how can we distinguish these junk projects? Feng explained, “It’s quite simple. Don’t expect to make money effortlessly. Crypto investing requires intellectual engagement. Projects that promise high returns with minimal efforts are often not reliable, like the notorious case of PlusToken.”
PlusToken, launched in 2018, claimed to be a digital asset wallet and investment platform. It lured a large number of investors, particularly in Asia, by offering lofty daily returns through a multi-level marketing strategy. After absorbing a significant pool of assets, it announced technical difficulties and terminated its operations. This resulted in the disappearance of billions of dollars in digital assets, making PlusToken one of the most prominent scams to date.
“I believe that choosing the right platform is of utmost importance. Since my entry into the crypto world, I’ve witnessed many rug-pulls. However, I have always used HTX. Why? The reasons are threefold. First, HTX always keeps the big picture in mind. Second, the leaders at HTX are financially secure; they don’t rely on our money. Instead, their focus is on making things work. Third, HTX has a good track record of asset security,” Feng recounted his experiences.
Learning well during bear markets to prepare for bull markets
Toward the end of the interview, we asked Feng to describe himself in a few words. He chose three: persistent, optimistic, and decisive. Unlike many investors who left the industry due to the shifts between bear and bull markets, Feng has remained in the field for over five years since 2017. So, what’s the right thing to do during a bear market? Feng stressed the importance of “learning well during bear markets because bull markets will keep you busy.” I vividly recall how Feng decidedly entered the market during the “March 12” and “May 19” crashes when prices plummeted over 50%. I can’t help but admire his sophistication and determination.
To outsiders, the crypto industry may appear as a realm of extreme volatility and rampant speculation. However, in Feng’s eyes, the crypto market operates according to its logic and isn’t as unpredictable as it may seem. If you delve into how it works, you’ll find it’s not that complex or enigmatic. That being said, truly understanding it remains unlikely without persistent learning. For many individuals trapped in scams, a line from the recently popular Chinese movie “No More Bets” (the Chinese title translates as “Go All-in”) rings true: “Everyone has two hearts: one is greedy, and the other is unreconciled.” In Feng’s case, I believe that his success arises not just from hard work but, more importantly, from a calm mindset he maintains.
Every day, Feng dedicates a significant amount of time to market analysis. Moreover, he has a strong passion for astronomy and photography. This is fascinating for someone with the potential to set foot on Mars. What does the universe look like from the perspective of Mars compared to Earth? We look forward to the visual feast Feng will bring back from Mars!