Reasons why beginners lose money in the cryptocurrency bull market:
1. Fear and missed opportunities at the end of the bear market and the beginning of the bull market
Just coming out of the bear market, beginners often remain trapped in the mindset of the bear market. When faced with early rising opportunities, they hesitate to enter the market out of fear, missing the excellent chance to build positions at low prices.
2. Hesitation and misjudgment in the mid-bull market
When the bull market trend becomes clear, they become overly cautious, always fantasizing about price corrections, trying to buy at lower points. Once they misjudge, buying can lead to being stuck in a position, possibly even standing at a temporary peak, ultimately missing out on subsequent gains.
3. Short-sightedness and impatience in pursuit of short-term profits
Unable to resist the temptation of frequent trading, they rush to sell as soon as they make a profit, unable to enjoy the benefits of long-term appreciation, and miss out on big money through continuous short-term operations.
4. The fatal risk of leverage abuse
Overconfident or tempted by high returns, they recklessly use leverage, ignoring its huge risks. With slight market fluctuations, they may suffer total losses due to liquidation.
5. Greed and blindness at the end of the bull market
In the late bull market, the market is in a frenzy. Driven by greed, beginners ignore risks and frequently increase positions chasing prices, ultimately standing at the top, bearing the subsequent significant corrections alone.
How to judge whether the bull market is still ongoing? Keeping a close eye on Bitcoin's performance is a simple and effective strategy. As long as there is no massive sell-off and liquidation wave for Bitcoin, the bull market is likely still continuing.
