Everyone knows about Luna, right? In May 2021, it brought down the entire cryptocurrency market, and Three Arrows Capital lost all its money because of its heavy investment in Luna.
For example, if you hold 100,000 Luna, it is worth 100,000 when you go to bed today, but it will become 0 when you wake up.
You said you have been in the cryptocurrency circle for so long, and it just went back to zero, ust just dropped 10 times, and you still believed in DoKwon (he has already gone to operate the sewing machine), so you went to sleep with peace of mind again.
The next day, you woke up with 10,000 U. You thought that it had fallen by 99% and it should have fallen no further. If you buy in now and it rises to 10 U, it will be ten times higher. So you sold everything you had and raised 200,000 U to buy 200,000 Luna. You couldn’t sleep at this time. You kept staring at it hoping that it would rise back, but you could only watch the price go from 1 to 0.1 and then to 0.000001 and finally be delisted. In the end, in three days, your 300,000 U assets shrank to the price of a pig’s trotter meal. You completely collapsed. . . .
In addition to Luna, the cryptocurrency world is very different from the traditional financial market:
1. Work 24/7;
Second, there are no price limits or circuit breakers;
3. Many people abuse leverage in high-multiple poker;
4. There is almost no threshold to enter the circle;
5. The rise and fall of altcoins are disorderly.
Especially when the second, third and fifth points are combined, it is normal to get rich overnight and get liquidated overnight. Be careful with leverage, everyone. You think your 20x leverage is already very low, but you don’t know that there are days every year when the fluctuation exceeds 30%. Because of the leverage, the more it falls, the more it cannot be stopped, and finally it leads to a series of liquidations. Why can ETH reach more than 800 in this bear market? Why will FTT return to zero? Isn’t it because the liquidation price on the chain is clear, and there is money to throw it in to pick up cheap corpses? #三马哥
