The cryptocurrency world is dangerous. Here are ten ways that ordinary people are most likely to lose money in a bull market. It is recommended to collect and read them repeatedly.

6. Lack of independent thinking

Blindly believe in the propaganda of the media, experts and various coin gods. Guess the investment intention behind based on a few words.

Blindly follow the opinions of others or the so-called "expert" advice, instead of making investment decisions based on your own research and analysis.

I have blocked all Chinese cryptocurrency media, and only keep a few single-digit attention from English media.

7. Heavy positions in altcoins and ignore Bitcoin

Altcoins may provide high returns in the short term, but this window period is extremely short, which may only be about 30 days in the entire cycle. Most of the other times cannot outperform Bitcoin.

Altcoins are inherently highly volatile, and a 30% fluctuation in a day is regulated by Sikong. Many newcomers cannot tolerate this volatility, and repeatedly chase highs, repeatedly cut meat, and finally leave the market with all their losses.

8. Chasing up and killing down

Chasing up and killing down refers to the behavior of rushing to buy when asset prices rise and rushing to sell when prices fall. The driving forces behind this behavior are greed and fear: when seeing others making money, greed makes people want to share in the profits, so they buy when prices rise; and when the market falls, fear makes people worry that losses will further expand, so they are eager to sell. The result is often buying high and selling low, leading to losses.

9. Revenge trading

Revenge trading refers to the behavior of trying to "retaliate" against the market and quickly recover blood by increasing investment or taking higher-risk transactions after suffering losses. Behind this mentality is the unwillingness to accept losses and the overreaction to losses. Investors may abandon their original trading plans and risk management principles, over-trade or over-speculate, hoping to quickly make up for previous losses. This behavior increases greater risks and often leads to more serious losses.

10. Stud-Hand Psychology

Stud-Hand psychology refers to investors investing most or even all of their funds in a transaction that seems to have great profit opportunities, hoping to make huge profits in one fell swoop. Behind this is usually overconfidence and greed. Although stud-ha may bring huge profits, it is also exposed to extremely high risks. Once the judgment is wrong, it may lead to a comprehensive loss of funds.