"Dropped? Buy more! Dropped again? Bottom-fish! Dropped again? Go all-in!" Many people in the cryptocurrency world have experienced this cycle until their accounts are left with a string of zeros. The 'chives' who have been harvested feel either angry or regretful, but few reflect: Who is harvesting? Why are they always 'chives'? This is a story about desire and human nature.

Entering the cryptocurrency world: The beginning of the wealth dream

Zhang Xiaoming (pseudonym) is an ordinary white-collar worker. At the beginning of 2021, he saw Bitcoin's price soar from $30,000 to $60,000, and he was tempted. Influenced by friends, he invested all his savings of 30,000 yuan into a 'certain emerging token,' fantasizing about doubling his investment in three months to buy a new car. However, the price of these tokens initially rose slowly, leading Zhang Xiaoming to believe he had found the wealth code, only to see his assets shrink by 80% overnight on the day of the crash.

Zhang Xiaoming recalled: "Everyone was shouting 'the bull market doesn't say it's at the top,' but those who were shouting had long cashed out and left." He then understood that the so-called 'financial freedom' was merely a carefully designed trap for 'chives.'

Three ways 'chives' are harvested

1) FOMO emotion: The greed of missing out

"Have you heard? A certain coin has risen by 100%!" Such news spreads rapidly in the cryptocurrency world, and 'chives' fear missing out on the next wave, blindly entering the market. Little do they know, by the time they chase the rise, the main players have already quietly withdrawn.

2) Altcoins and scams

"Buy low, get hundred-fold returns!" Some projects, under the banner of blockchain innovation, attract 'chives' to invest with flashy promotions. But most altcoins are either worthless or maliciously manipulated by operators.

3) Margin liquidation: The psychological trap of gamblers

High leverage can amplify gains but also magnify losses. Stories of accounts being wiped out in a sudden drop are common in the cryptocurrency world.

How to break out of the 'chives' cycle?

Understand the risks: No investment is risk-free, especially in the highly volatile cryptocurrency market.

Beware of temptation: Stay away from promises like 'hundred-fold coins' and 'wealth codes' that seem too good to be true.

Diversify investments: Do not put all assets into high-risk areas, ensuring basic living security.

Learn market rules, master technical analysis and fundamental judgment to escape the fate of being 'chives.'

Reduce positions, control risks: Never invest more money than you can afford to lose. Risk management is the core of investing.

Beware of emotional manipulation: The cryptocurrency world is full of 'whales' and market manipulation; blindly following emotions will only make one a target for being harvested.

Rational decision-making, away from greed: Do not blindly increase positions in a bull market, and do not recklessly go all-in in a bear market to maintain stability.

Team collaboration: Finding like-minded investors to form a small circle for analysis and communication is safer than going solo.

The story of 'chives' is not just a phenomenon in the cryptocurrency world, but a mirror reflecting human nature. Under the temptation of high returns, people often lose their rationality, swayed by greed and fear. Only by clearly understanding market rules and maintaining a rational mindset can one transform from 'chives' into a mature investor. The storms in the cryptocurrency world will never calm down, but by choosing a steady and determined course, one can navigate through the storm and see the true light.