Many people are attracted by the bull market in the cryptocurrency space and have indeed made a lot of money in a short period of time.
But the problem is, they often cannot hold onto this wealth. Why?
1. Some people see the bull market coming, become bold, and think about making more money after earning some. They are not satisfied, feel they haven't made enough money, and continue to invest more, even borrowing money to leverage. What happens? When the market changes, they lose all the money they previously made, or even more.
2. There are also some people who don't really understand the cryptocurrency space; they just hear that others are making money and follow suit. They initially hesitate to invest too much, but when they see prices continually rising, they can't resist increasing their investment. In the end, they often buy at the market's highest point and then get stuck.
3. Even more, some people enter the cryptocurrency space already in deep debt, hoping to turn things around quickly. They earn some money initially and then become complacent, losing their respect for the market. As a result, they sink deeper and accumulate more debt.
In general, making money in the cryptocurrency space is easy, but holding onto it is very difficult. Many people earn money by luck, only to lose it back through their own strength.
Therefore, it is essential to think twice before entering the cryptocurrency space, not to blindly follow the trend, and certainly not to borrow money for investment.