Newbies are cautious when trading in cryptocurrencies at first. They usually take their own small savings and dare to enter this circle after some consideration.
Most of the time, they come in during the bull market. In the bear market, newbies basically don't touch this.
At the beginning, seeing their capital of several thousand yuan increase by more than 10% every day, they felt so happy, thinking that the cryptocurrency circle is simply a paradise for picking up money and making money is too easy.
So, they began to increase their investment, not only investing all their spare money, but some people also went to various lending platforms to borrow money to trade in cryptocurrencies.
They even think that those people who use Huabei, Wangshangdai, and Weilidai are really "wooden-headed". They only make four yuan out of ten thousand yuan a day, which is too little. In the cryptocurrency circle, it is all rising in thousands.
Seeing their account balances increasing, they began to feel proud and disliked everyone. They felt that they had found the secret to making a fortune, as if all the money in the world was in their pockets.
Although there was more money in the account, their debts outside were also increasing. However, they feel at ease because they feel that they have really made a lot of money, but they are not satisfied yet and want bigger dreams, to become millionaires or multi-millionaires.
But the good times did not last long. The bear market came and the novices had no time to react. At the beginning, the market fell by 20%, but they still thought it was only temporary and would rebound after a while.
As a result, the market fell more and more, and they waited more and more, expecting the market to pull back.
In the end, the money in the account was almost gone, and many projects were removed from the exchanges one after another, which meant that these projects were basically finished.
The money was gone, the dream was shattered, and only a pile of foreign debts was left.
They became complete losers in the currency circle.
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