Breaking! The crypto market lost 1.2 million USD in three days, the bloody truth exposed!
I used to not believe that the ups and downs of the crypto market could be life-threatening until May 11, 2022, when LUNA collapsed, and I still have lingering fears!
That night, someone lost 1.2 million USD in three days, leaving only enough for breakfast, not an exaggeration! At that time, LUNA's market value was booming, 10,000 coins worth 1 million USD. Before sleeping, you thought to yourself: "A 10% depeg, Do Kwon will save the situation, just hang in there.
But when you woke up, only 700,000 was left, and you forced yourself to stay calm: "A 30% drop is normal." After sleeping and waking up again, only 10,000 USD was left! You never expected it would go to zero directly!
You were unwilling to admit defeat, selling everything to gather 200,000 USD to buy the dip, and bought another 200,000 coins, fantasizing about a 10x rebound. You stayed up all night watching the market, helplessly seeing the price drop from 1 dollar to 0.000001, and the exchange directly delisted it.
In three days, 1.2 million USD turned to nothing; although you are alive, your heart has collapsed. Don’t think this is far from you; the crypto market's liquidation tragedies happen every day!
This market operates 24/7, with no limit on price increases or decreases, rampant leverage, and emotions like explosives; a single "negative news" can overturn the market. Shanzhai projects rely on hype and empty shells to surge, and the liquidation mechanism is cold-blooded, with whales dumping directly to harvest.
Don’t think that low leverage equals safety; a 20% drop in the crypto market in a day is normal, occurring dozens of times a year, each time a brutal cut. ETH dropped from 4,000 dollars to 800 dollars, and the market makers accurately "collect the corpses" at the liquidation price.
Stop fantasizing that "it won't drop anymore"; don't blindly believe in "faith" or "value." Those who excel in the crypto market are wise ones who can endure, can bear, and know when to take profits.
If you want to survive in the crypto market, don’t let the hype cloud your judgment; opportunities are only left for those who are awake, calm, and strategic!
