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There are many reasons for significant losses caused by cryptocurrency trading. Here are some common factors:

Short-term Thinking

Frequent Trading: Many investors often engage in short-term operations, frequently buying and selling cryptocurrencies. This not only increases transaction costs but may also lead to missing out on long-term gains.

Chasing Up and Selling Down

Emotional Trading: Driven by market sentiment, investors often blindly chase prices when they rise and panic sell when they fall. This behavioral pattern can easily lead to substantial losses.

Insufficient Understanding

Blindly Following Trends: Lacking a deep understanding of investment targets, believing in rumors or recommendations from others, resulting in investment decisions lacking rational basis.

Restlessness

Expectation of Getting Rich Overnight: Many investors enter the cryptocurrency market hoping to achieve financial freedom through short-term high returns but lack lasting patience and calm judgment, making them susceptible to market fluctuations.

Lack of Investment Knowledge

Not Learning: Lacking a basic understanding of cryptocurrencies and blockchain technology, unable to effectively assess investment opportunities and risks, leading to poor investment decisions.

Lack of Sound Investment Philosophy

Lack of Long-term Perspective: Not having a clear investment plan, making investment decisions solely based on feelings, unable to cope with market fluctuations, ultimately leading to losses.

Over-Leveraging

High-Leverage Trading: Amplifying trading scale through borrowed funds may increase returns but also magnifies risks. Once the market fluctuates, it can easily lead to liquidation.

Information Asymmetry

- Market Manipulation: The cryptocurrency market lacks effective regulation, insider trading and manipulation occur frequently, and ordinary investors are easily deceived by large players and manipulators, resulting in losses.