BTC continued to rise overnight, breaking through $60,000, and is currently resting in the 61-62k range. From the extreme pin drop of 49k on August 5, it continued to rise to 61k in just over 3 days, with a total increase of nearly 25%.

I wonder how many times in a year there will be such an opportunity to rise by 25% in 3 days, and how many times can a person seize it with a full position in his entire investment career? Those who persuaded people to cut their losses during the panic of the August 5th crash were either stupid or bad.

If a newbie listened to the encouragement of cutting losses when he was afraid and cleared his position at 49k, then just 3 days later, he bought back at 61k, and immediately lost nearly 1/5 of BTC, that is, he lost 20% of his position. 5 BTC were cut, and 4 BTC were left after 3 days.

1 BTC was lost in 3 days.

If he did not buy it back, then as BTC continued to rise, his losses would become greater and greater. When BTC rose to 98k, he would lose half of his BTC. But even if BTC drops to 49k again, he may still not dare to buy it back, because at that time, there will definitely be more voices telling him that BTC will continue to fall, 30k, 20k,...

The final outcome is likely to be that he will lose his position forever and lose BTC.