The cryptocurrency market in recent days can be said to have caught people off guard. It is not an exaggeration to describe the market yesterday as a "storm".

Yesterday, Bitcoin plummeted by more than 8% at one point, and major currencies such as Ethereum fell by more than 10%. In the past 24 hours, more than 230,000 people had their positions liquidated, with losses exceeding US$680 million.

Is this a receding tide of risk aversion or a precursor to the arrival of a black swan?

Odgen believes that the continuous decline of Bitcoin may be due to the twists and turns of the US election and signs that the tokens seized by the German government have been transferred to exchanges. In addition, Richard Galvin, co-founder of the hedge fund Digital Asset Capital Management, said that the greater reason for Bitcoin's weakness in the short term is the unresolved issue of Mt.Gox compensation and government selling. Recently, Odgen has also been reminding his family members to weigh the risks brought by the disposal of seized Bitcoin by the US and German governments when operating.

More than $800 million worth of bullish cryptocurrency bets were liquidated in the past three days, one of the largest liquidations since April, according to Coinglass.

There is a joke on the Internet that if you are looking for a partner, you should look for people in the cryptocurrency circle. A 15% drop is calm, a 30% drop is calm, a 50% drop is calm, an 80% drop is silent, and a 90% drop on top of a 90% drop - you have completely let go and are above everything. The main point is a stable heart, without any waves!

Many people come in with the hope of getting rich overnight, but many of them are getting further and further away on the road to making back their money. The root of the problem is the most common one, which is chasing highs and selling lows. They buy when prices go up and sell when prices go down. They know nothing about the market and follow the trend blindly, so that later, when others have already escaped the top, they are still struggling to hold on and are stuck!

CCTV previously reported that BTC is a game of pass the parcel, which is essentially correct. The essence of any matching trading market is pass the parcel, including the stock market. The first to enter the market gets the meat, and the last to enter the market takes over. This has never changed... When to enter and when to leave, the buying and selling points are the key to profitability. Kweichow Moutai cannot keep rising, and the same is true for BTC, and even more so for other copycat projects!

This society emphasizes cognition, and the cryptocurrency world emphasizes cognition even more. What you have now is the realization of cognition. The root cause of losing money is insufficient cognition. There are many low-risk ways to play in the cryptocurrency world, which are actually the most friendly to retail investors, but most people don’t know how to play, or are too lazy to escape from their comfort zone. But then again, in this market, if you don’t even have the most basic awe, it’s only a matter of time before you lose everything!