Does the rise and fall in the crypto world really scare people to death?

Yes, let's take the classic example of Luna. You have 10,000 Luna, and when you went to sleep yesterday, it was worth 1 million U. When you woke up, it had dropped to 700,000 U. You thought, I've been in the crypto world for so long, a mere 30% pullback, UST only de-pegged by 10%, I trust DoKwon, so you went back to sleep with peace of mind. The next day, you woke up to find it was worth 10,000 U. At this point, you thought it had already fallen 99%, it couldn't possibly fall any further, right? You thought if I buy the dip and it goes back to 10 U, that would be tenfold profit, how wonderful! So you sold everything and gathered 200,000 U to buy 200,000 Luna. At this point, you couldn't sleep; you kept watching, hoping it would rise again, but all you could do was watch the price fall from 1 to 0.1 down to 0.000001, eventually getting delisted. In just three days, your 1.2 million U asset shrank to the cost of a breakfast. You were completely devastated. Besides Luna, there are many differences between the crypto world and traditional financial markets: 1. 7*24 hours without rest, 2. No price limits, 3. Very low entry barriers, 4. A lot of people abusing leverage, 5. Altcoins can rise and fall endlessly. Especially when points three, four, and five come together, getting rich one night and going bust the next is quite normal. Be cautious with leverage, everyone. You might think that five times leverage is already low, but little do you know, there are days when fluctuations exceed 20% every year. Because of leverage, the more it falls, the harder it is to stop, ultimately leading to a chain reaction of liquidations. Why could ETH reach over 800 in this bear market? Isn’t it because the liquidation price on-chain is crystal clear, and there’s capital coming in to pick up cheap bodies?