Many people are attracted by the bull market in the cryptocurrency world and have indeed made a lot of money in a short period of time.
But the problem is that they often cannot hold onto this wealth. Why is that?
1. Some people see that the bull market has arrived, become bold, and think about making more money after earning a little. They are not satisfied, feel that they haven't earned enough, and continue to increase their investment, even borrowing money to leverage. What happens next? When the market changes, they lose all the money they previously made, and even more.
2. There are also some who actually don't understand the cryptocurrency world; they just hear that others are making money and follow suit. They initially dare not invest too much, but when they see prices continuously rising, they can't help but increase their investment. In the end, they often buy at the market's peak and then get trapped.
3. Even more, some people enter the cryptocurrency world already heavily in debt, hoping to turn their situation around quickly here. They earn a little money in the beginning and then become complacent, losing their respect for the market. As a result, they get deeper in trouble, with more and more debt.
In general, making money in the cryptocurrency world is easy, but keeping that money is very difficult. Many people earn money by luck, only to lose it back through their own shortcomings.
Therefore, before entering the cryptocurrency world, one must think carefully, avoid blindly following trends, and definitely not borrow money to invest.