Does the rise and fall of the crypto market really scare people to death?
Don't ask if it will. Just ask, have you experienced it?
This is not an exaggeration, but a true tragedy witnessed and personally experienced.
Let's talk about the most classic—The night of the LUNA crash.
You thought it was a "correction," but it was actually "going to zero."
You had 10,000 LUNA, worth 1 million USDT yesterday, and before bed, you saw the price drop by 30%, leaving only 700,000.
You comforted yourself: "It's just a minor correction, UST has only depegged by 10%,
I believe in Do Kwon!"
So, you slept soundly. The next morning, you woke up to find only 10,000 USDT left in your account. You were shocked: "A 99% drop? It should be at the bottom, right?" You started
fantasizing: "If I buy in at the bottom and it goes back to 10 USDT, that's ten times my investment; I can turn this around!"
You sold everything and stuffed in another 200,000 USDT, buying 200,000
LUNA. You were too scared to sleep again, 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 only enough for breakfast. You, completely broken.
The crypto world and traditional markets,
are not even on the same dimension.
Many newcomers don't understand, why do people say the crypto market is "scarily volatile"?
Please look at these points:
24/7 without rest: There is no pause button; miss one sleep, miss a lifetime.
No price limits: Unlike A-shares with a maximum of 10%, here a halving in a day is common.
Extremely low entry threshold: Anyone can jump in; just install an app and you're on the battlefield.
Leverage is rampant: 10x, 20x at any moment; liquidation can happen with just a few candles.
Altcoins have no bottom line: They can skyrocket to a hundred times overnight, or drop to zero, losing everything.
The scariest thing is that these events often happen together: a project crashes,
taking away the hard-earned money of tens of thousands. Leverage accelerates, and a chain reaction of liquidations occurs;
you can't even get saved.
So, I just remind you:
If you can avoid leverage, don't use it. If you can avoid altcoins, don't invest in them.
You might think your five times leverage is secure,
but in the crypto market, daily fluctuations of 20% to 30% happen a dozen times each year!
It's not that you made a wrong move; it's just that you might not live to see the moment of recovery.
In the crypto world, it's not about whether you can see accurately; it's about the fear of dying before dawn.
Surviving is the only qualification to discuss "bull markets and profits."
Be cautious with every decision, especially the one before sleeping: $BTC