Joining is right, so why do you still lose in investments? Is it because of insufficient understanding? No, it is because you cannot predict the distant future.

First, the conclusion: total loss.
No, it is not depreciation, it is a total loss.
Not extreme at all, why do I say that?
First, you must understand that 99% of virtual currencies are scams. Once a war breaks out, scammers will definitely cash out and flee first.
Let's talk more about Bitcoin. The vast majority of people believe it is a safe-haven asset, calling it digital gold is nonsense.
Go read the white paper. Satoshi Nakamoto has always positioned Bitcoin as a peer-to-peer electronic currency, never referring to it as digital gold.
So why do mainstream voices believe Bitcoin is digital gold and worth holding long-term?