Wealth is never created out of thin air, nor does it simply disappear without a trace. It only flows and redistributes continuously. This is the fundamental truth of the market, yet it is also the easiest to overlook.

The essence of the crypto world is a stage for wealth redistribution. Stories of sudden riches in a bull market and tragic losses in a bear market ultimately stem from the same mechanism: someone profits, someone else loses. This seemingly simple logic has stumped 99% of people.

Human nature becomes especially complex in the face of the market. During declines, fear dominates, and the more it drops, the more people want to escape, with reducing positions becoming an instinctive reaction. During rises, greed takes over, and the more it climbs, the more people want to hold heavy positions, as if financial freedom is just a moment away. This pendulum-like extreme swinging is the main reason retail investors often end up losing everything.

In the early stages of a bull market, the shadow of the previous bear market still clouds the mind. Hesitation, watching, tentative small-scale participation—these are protective mechanisms after trauma. But once the market starts to move, FOMO (Fear Of Missing Out) spreads rapidly. At the craziest moments at the market top, rationality completely surrenders, and heavy or full positions become the final gamble. This is followed by a sharp price plunge, and those immersed in the crazy bull fantasy often watch their assets shrink by 90%, yet are still unwilling to cut losses.

During the 2017-2018 wave, too many people sold their houses, borrowed money, and leveraged to trade cryptocurrencies. Extreme stories frequently appeared in the news—some chose to escape, others paid the price with their families. These lessons are written in blood and tears, but human nature is hard to change. Thousands of years of history prove that under the drive of利益 (interest/profit), human weaknesses are highly repetitive.

The same BTC, when priced at $3,000, some doubted life; at $8,000, some went all-in. The outcomes are often opposite—those who hesitated at low levels missed gains, while brave warriors at high levels got deeply trapped. This is not an intelligence issue but a psychological one.

What is the most common phenomenon in the crypto world now? Investors chasing gains and selling on dips are ridiculously numerous. The most frequent message in social circles is "This coin has multiplied several times, do you want to follow?" Most people lack independent coin selection logic, let alone trading discipline. Seeing others' coins skyrocket while their own remain stagnant, their anxiety drives them to frequently switch positions—chasing the most explosive gains without principles, not realizing that this is precisely the best time for the market to harvest retail investors.