Why do so many people still play in the cryptocurrency contract market even when there are liquidations?

To put it simply, even though there are always people losing everything in the cryptocurrency contract market, many still gather to play, mainly for these reasons——

① Want to make quick money with minimal investment

Leverage is incredibly enticing. For example, if you only have 1000 yuan, with 100x leverage, you can trade with 100,000 yuan. If the price rises by 1%, your 1000 yuan instantly becomes 2000 yuan, making money seem fast! But conversely, if it drops by 1%, you go straight to zero. Many people only focus on the possibility of “rising” and completely ignore the consequences of “falling,” thinking “I definitely won’t be the unlucky one.”

② Gambling until unable to stop

Some people refuse to accept their losses after a liquidation, thinking, “I was so close to making money just now, if I try again, I will definitely turn it around.” So they borrow money and increase their positions, the more they lose, the more they want to gamble; others feel that watching the price go up and down is like playing a thrilling game, it’s very stimulating, like being addicted, and even if they lose money, they can't help but keep staring at the screen and clicking the mouse, unable to stop.

③ Deceived by the illusion of “others making money”

There are constant reports of “some big shot made 100 times with contracts” and “some retail investor made enough for a house in a day,” and platforms always promote these “success stories,” but no one tells you how many people lost everything behind the scenes, how high the transaction fees and various miscellaneous costs are, and how easily one can be “cut” when the market moves slightly. Newcomers see others making money and think, “I can do it too,” but when they enter, they become someone else's “side dish.”

④ Think it’s “exciting and simple”

The cryptocurrency market is inherently volatile, and some people feel that trading contracts is more thrilling than regular buying, as they can bet on both rises and falls without needing to study complicated project logic, feeling that the “barrier to entry is low.” Additionally, because they might not understand traditional investments like stocks and funds, they dive headfirst into contracts, thinking, “I’ll take a gamble, turning a bicycle into a motorcycle,” not realizing they can’t compete against the market makers and market fluctuations behind the scenes.

In summary, it boils down to “greed + luck + herd mentality + seeking excitement.” Everyone is always thinking, “What if I make money?” but doesn’t consider that, fundamentally, “the money you earn is the money someone else loses,” and with the transaction fees, playing long-term is basically guaranteed to lose. But human nature is like this; they always feel “they can win in the end,” and as a result, most people become part of the “liquidation army”—to put it simply, they can’t control their hands and succumb to their “gambling nature.”