It's fundamentally impossible to quit

1. The temptation of the wealthy myth
The stories of 'thousand-fold coins' and 'ten-thousand-fold myths' are constantly circulating in the community, such as:

Early Bitcoin holders turned 10,000 yuan into 100 million.
Meme coins like SHIB and DOGE have made ordinary people financially free in just a few months.
Survivorship bias: People only see those who make money and ignore the 99% who lose money.

Psychological effects
What if this time it's my turn?
If others can make money, why can't I?

2. 24-hour trading, the excitement never stops
The stock market has closing hours, but the crypto market trades around the clock, with possibilities of surging or plummeting at any moment.
Contract leverage can double in minutes or lead to liquidation, with adrenaline surging.
FOMO (Fear of Missing Out) makes you unable to resist going all in after seeing others make money.

Typical scenario:
You wake up to find you're trapped, yet still expect 'tomorrow will rebound.'

3. Gambler's mindset: Winning makes you want more, losing makes you want to recoup
Won: Earn a little more and then stop!
Rolling positions, going all in, and high leverage make people sink deeper, ultimately making it hard to withdraw.

Psychological explanation:
Dopamine addiction - the extreme volatility in the crypto space stimulates the brain's reward mechanism more than gambling.


4. Information overload causes anxiety and excitement
Every day there are new projects, new concepts (inscriptions, Depin, RWA...)
Communities and KOLs continuously shout out trades, creating anxiety about missing out.
Herd effect: Whatever others buy, you want to follow, fearing being left behind.

Current situation:

Just as you understand one sector, the market has already moved on to the next...
In the end, you find yourself always **chasing highs and cutting losses**.

5. Sunk cost: Having already invested too much, unwilling to exit
After losing money, you always want to 'recoup before leaving'.
After making money, you feel 'I can still earn more.'
Time, money, and emotions are all trapped, making it ultimately hard to escape.

Classic mindset: 'I've already endured the bear market, wouldn't exiting now mean I've suffered for nothing?'
Give me one more chance, and I will definitely make it back...

How to avoid getting hooked? Two rational participation tips for the crypto space

2. Reduce screen time, avoid emotional trading
Look at the candles less, join fewer trading groups, and reduce FOMO emotions.
Focus on long-term strategies, avoid short-term gambling.

3. Accept reality: Getting rich is luck; stable profits depend on understanding
Those making money in the crypto space are either early investors or professional traders.
Ordinary people who want to make money must learn + patience + discipline


Summary
The essence of the crypto space being captivating is -
A result of multiple factors: greed, luck, excitement, information anxiety, and sunk cost.
Those who can truly make money do not rely on luck, but rather on strategy and mindset.