Is the rise and fall of the cryptocurrency market really terrifying?

Don't ask if it will happen. Just ask, have you experienced it?

This is not an exaggeration, but a real tragedy witnessed and personally experienced.

Let's talk about the most classic example—the night of the LUNA crash.

You think it's a "correction," but it's actually "going to zero."

You have 10,000 LUNA, worth 1 million USD yesterday, but when you check the price before bed, it has dropped by 30%, now only worth 700,000.

You reassure yourself: "It's just a minor correction; UST has only de-pegged by 10%, I trust Do Kwon!"

So, you sleep soundly. The next morning, you wake up to find only 10,000 USD left in your account. You are shocked: "A 99% drop? It should have bottomed out, right?" You start fantasizing: "If I buy the dip and it rebounds to 10 USD, that's ten times my investment, I can turn it around!"

You sell everything and put in another 200,000 USD, buying 200,000 LUNA. You no longer dare to sleep, watching the market all night, only to see the price drop from 1 → 0.1 → 0.0001 → 0.000001… In the end, it gets delisted from all major exchanges. 1.2 million in assets evaporated in three days, leaving you with just enough for breakfast. You are completely devastated.

The cryptocurrency market and traditional markets are not even in the same dimension.

Many newcomers do not understand why people say the cryptocurrency market is "terrifyingly volatile."

Please consider these points:

24/7 operation: There is no pause button; miss one sleep, and you could miss a lifetime.

No price limits: Unlike A-shares, which have a maximum drop of 10%, here it is common to see a price cut in half in one day.

Extremely low entry barriers: Anyone can jump in; just install an app and you're on the battlefield.

Widespread leverage: Often 10x or 20x, and liquidation can happen with just a few candlesticks.

What’s most terrifying is that these events often happen simultaneously: a project collapses, taking away the hard-earned money of tens of thousands. Leverage accelerates, leading to chain liquidations, with no rescue in sight.

So I’ll just remind you:

If you can avoid leverage, don’t use it; if you can avoid altcoins, don’t invest in them.

You think you are stable with 5x leverage,

But in the cryptocurrency market, daily fluctuations of 20% and 30% occur dozens of times each year!

You haven’t made the wrong move; it’s just that you may not survive to see a turnaround.

In the cryptocurrency market, it’s not that you can’t read the market; it’s that you might die before dawn.

Survive first, then you have the right to discuss “bull markets profiting.”

Be cautious with every decision, especially the one before you sleep.

For those confused about trading, wanting to break even, or aiming to double their investment, follow Long Shao's insights to plan ahead.