Why are most people in the cryptocurrency circle not suitable for contracts?
"My uncle is a smart electrician who is good at thinking and solving problems. When he learned about my success in the cryptocurrency market, he also decided to try this field. However, despite my warnings to not act too hastily, avoid using leverage and buying small currencies, he chose his own way.
In just two weeks, he doubled 20,000 yuan to 40,000 yuan through contract trading. This gave him confidence, and he began to use up to 50 times leverage and turned to hyping small currencies. In the following months, his assets grew rapidly, reaching 250,000 yuan at one point.
However, this rapid success also made him overconfident. He stopped communicating with me because he thought my investment strategy was too conservative. But when the market reversed, his wealth shrank rapidly. In five months, his assets were reduced from 250,000 yuan to less than 150,000 yuan.
Despite the losses, he still did not give up. He invested money again, hoping to make a comeback by hyping new cryptocurrencies. However, This time he suffered an even bigger failure. In the Luna crash, his assets went to zero overnight.
Despite this, he still didn't give up. He decided to start investing in Ethereum in the bear market and wait for the market to pick up before re-entering. However, just three months later, he invested another 20,000 yuan and doubled his profits by buying a new cryptocurrency.
This story tells us that even the smartest people can fail in the cryptocurrency market. Contract trading and the hype of small currencies are full of risks and can lead to huge losses. Therefore, we should be cautious in this market and avoid overconfidence and greed. "
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