What is the reason why people who speculate in cryptocurrencies keep losing money?

According to statistics, more than 90% of the leeks

lose money when speculating in cryptocurrencies.

My personal feeling is that it may be more than 90%,

maybe more.

Based on my own experience of losing money,

one of the important points is chasing high prices.

When a coin is at the bottom,

I feel that it is rising slowly and I don’t want to buy it.

When it rises by half,

I feel that it is too high to chase it.

However, when it rises to the pressure level,

I get impatient and think that it will continue to rise.

As a result, it falls as soon as I chase it in.

I am trapped in it, watching the loss of money every day,

I can’t bear it in my heart, and I sell it again.

As a result, I sold it at the bottom again.

I am unwilling to do so.

I see it rise in the second wave,

and chase it again.

As a result, I encounter the second retracement again.

I am slapped in the face back and forth,

and I keep losing money.

Solution to the problem:

Find out your past transaction list,

and separate the losing buying points and the profitable buying points for statistical summary.

When opening a position to buy in the future,

only do the buying points with a high probability of success,

and give up the buying points with a low winning rate