Liang Xi's Huge Loss from Liquidation: From Millions in Profit to Millions in Debt, Just One “Bottom Fishing Short” Away
There are no gods in the crypto world, only gamblers. And gamblers often fall because they believe “this time I will definitely be right.”
Last month, Liang Xi achieved a stunning turnaround from debt to having assets worth ten million dollars. He should have taken the profit, but chose the most dangerous path: shorting heavily when Bitcoin was nearing $100,000. He not only went all in himself but also collaborated with multiple accounts, with a total position of 2000 BTC, valued at nearly $200 million, just to make a comeback.
But the market didn’t wait for him to realize his mistake; it only provided him with a continuous upward trend without looking back. He kept adding to his position and was continuously stopped out, falling from peak to trough, losing over $30 million in just one month.
This isn’t a matter of luck but a manifestation of mental demons: making money boosts confidence, confidence leads to misjudgment, and after misjudgment, unwillingness to cut losses, ultimately betting even larger amounts to fulfill the obsession of “I shouldn’t lose.”
This time, Liang Xi lost not just money but also the last shred of shame from being a “big V” in the crypto world. He used a huge gamble to tell everyone: you can be right a thousand times, but just one wrong “I want to get everything back” thought is enough to ruin everything.
Liquidation is not scary; what’s scary is thinking “this time it won’t happen.”
