Yes

Does the rise and fall of cryptocurrencies really scare people to death?

Don't ask if it will happen, just ask if you've experienced it

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

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

You thought it was a "pullback," but it was actually "going to zero"
You had 10,000 LUNA, worth 1 million USD yesterday, and before bed, you saw the price drop by 30%, leaving only 700,000
You comforted yourself: "It's just a minor pullback, UST has only depegged by 10%, I trust Do Kwon!"

So, you slept soundly. The next morning, you woke up to find only 10,000 USD left in your account. You were shocked: "A 99% drop? It should be at the bottom, right?" You began to fantasize: "If I buy at the bottom and it rises back to 10 USD, that's tenfold, I can turn things around!"

You sold everything, gathered 200,000 USD, and bought 200,000 LUNA. You were too scared 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 was delisted by major exchanges. 1.2 million in assets evaporated in three days, leaving just enough for a breakfast. You were, completely devastated

The cryptocurrency market and traditional markets are not even in the same dimension
Many newcomers don’t understand why it's said that the cryptocurrency market
"scares people to death"?

Please consider these points:
7x24 hours with no breaks: There is no pause button, miss one sleep, and you miss a lifetime
No price limits: Unlike A-shares which have a maximum of 10%, it’s common here to see prices halved in a day
Extremely low entry barriers: Anyone can jump in, just install an app and you’re on the battlefield
Leverage is rampant: 10x, 20x leverage at any moment, and liquidation can happen with just a few candlesticks

The scariest part is that these things often happen simultaneously: one project crashes, taking away the hard-earned money of tens of thousands of people. Leverage accelerates, leading to chain liquidations, with no chance of rescue

So, I’ll just remind you: if you can avoid leverage, don’t use it; if you can avoid altcoins, don’t go for them
You may think you’re stable with five times leverage, but in the cryptocurrency market, 20% or 30% fluctuations happen almost every day, and there are a dozen such days every year!
You’re not necessarily going in the wrong direction, but you may not even survive to see the moment of turning around

In the cryptocurrency market, it’s not that you can’t make accurate predictions; it’s that you might die just before dawn
Survive, and you’ll have the right to talk about "bull markets feasting on profits"
Be cautious with all decisions, especially the one before sleeping

Still, the same saying: a single tree cannot form a forest, a lonely sail cannot travel far! Having a good team to guide you is always far better than going solo, I have always been here!