The psychological journey of retail investors basically goes through these:

1. When the market rises sharply, they regret it so much because their positions are not full and they say they will wait for a decline to sell all in.

2. Then when the market falls sharply, they are talking and laughing, wondering why it has only fallen so much and they are waiting to add positions.

3. After the decline, they start to curse and say that it has not rebounded.

4. It keeps fluctuating and no one talks.

5. No one talks about bottom fishing, and they always think that there will be a big drop. No one talks about the blockchain revolution.

6. Occasionally someone comes out and says: Brothers, are you still awake? I have delivered ten takeaways.

7. Finally, it reverses and they are still waiting for a callback, thinking it is a rebound, so they continue to wait.

8. It seems that something is wrong, so they chase it in, and it is another stage top.

9. The same operation is repeated over and over again, and finally the bear comes. The bull goes away, they bottom fish, get trapped, and withdraw from the circle after losing money.