$ETH Does the rise and fall of the cryptocurrency market really scare people?
$BNB I didn't believe it before, but after experiencing the black swan event on May 11, 2022, I am still haunted by it...
$BTC On the night of the LUNA crash, someone lost 1.2 million U in three days, leaving only enough for breakfast. True story, not exaggerated.
At that time, LUNA's market value was still dazzling. If you had 10,000 LUNA in your account, it was worth 3 million U the night before. You were somewhat calm before sleeping:
"USDT has only de-pegged by 10%, Do Kwon will definitely save it; at worst, I'll just hold on."
But when you woke up, there was only 2.1 million left. You were a bit anxious, but thought to yourself: "A 30% drop? It's a normal fluctuation."
You put down your phone and went back to sleep. When you woke up again, there was only 21,000 U left.
It’s not that you didn’t set a stop-loss, but you never thought it would go to zero.
You were not superstitious, so you invested 300,000 U to buy the dip, going all in on LUNA, fantasizing that as long as it rebounds to 10 U, you would make 10 times your money and come back to life!
You started to be afraid to sleep, staying up all night watching the market, seeing the price drop from 1 to 0.1, then to 0.01, and then to 0.000001…
Until the exchange directly delisted it. In three days, 1.2 million U became just a joke.
You are fine, but your heart is truly broken. Don't think this kind of thing is far from you.
In the cryptocurrency market, these liquidation stories are played out every day.
What kind of market is this?
. 7×24 hours a day without rest or waiting.
. No price limits; it can soar high or drop low at any time.
. Leverage is rampant, easily 10x, 20x.
. Emotional intensity is off the charts; when someone shouts "bearish news," the entire market trembles.
. Shady projects tell a good story; even a shell can triple in value.
. The liquidation mechanism is open and transparent, whales can directly smash prices and liquidate your positions.
Don't think you're safe just because you used 5x leverage; you haven't experienced the feeling of a 30% drop in one day in the cryptocurrency market, or dozens of times in a year, each time feeling like being scraped to the bone.
Last time, ETH dropped from 4800 to 1300,
It's not that the project is bad; the on-chain liquidation price is clearly marked,
The traders know where the liquidations are, and where to pick up the “corpses” cheaply.
So, stop fantasizing that "it won't drop anymore"!
And don’t be superstitious about "faith," "value," or "consensus."
The real experts who survive in the cryptocurrency market are never those who guess rises and falls by staring at K-lines every day. They are clear-headed, calm, and strategic people.
