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| Illutration created and copyright by Drake Kim |
A man sits in front of his laptop late at night. A dimly lit room, the faint glow of the monitor, and a string of numbers dancing across the screen. Just hours ago, his account showed massive profits. But now? Negative 80%. His trembling hands grip the mouse, yet clicking feels terrifying. Should he sell? Will it bounce back? If he waits, will it recover? Or is it already too late?
This is the essence of the crypto market—a ruthless game where fortunes are made and lost overnight. Some call it the "Gold Rush of the 21st century," while others see it as "high-stakes financial gambling." One thing is undeniable: surviving in this market requires nerves of steel.
A Cycle of Doom: Repeating History
People often think the crypto market is a new concept, but history tells a different story. The 17th-century Dutch tulip bubble, the 1929 Wall Street crash, the dot-com bubble of 2000, and the 2008 subprime mortgage crisis—financial markets have always been driven by cycles of greed and fear.
When Bitcoin hit $69,000 in November 2021, many shouted, "This time it's different!" But what happened next? Within a year, it plummeted to $15,000. The FTX collapse wiped out billions, leaving investors watching their assets disappear in real time.
The lesson is clear: "When greed peaks, the market always strikes back." Legendary investor Warren Buffett's words ring true—history repeats itself, but people always want to believe otherwise.
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| Illutration created and copyright by Drake Kim |
Who Controls the Game?
The crypto market is even more volatile than traditional financial markets. Why? Because it lacks clear regulations, and countless projects vanish overnight.
Take the Terra-Luna crash of May 2022. Once considered "stable," Luna and TerraUSD (UST) collapsed by 99% in days. Investors lost everything, and some even took extreme measures.
Yet, those controlling the market survived. Insider whales, major exchanges, and institutional players took advantage of the panic, scooping up assets at rock-bottom prices. In this game, ignorance turns you into prey.
How to Survive: Change the Rules
So, what’s the solution? The crypto market still holds opportunities, but reckless investing is a recipe for disaster. You need a survival strategy.
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Avoid short-term greed
Forget the illusion of getting rich overnight. Focus on long-term trends and resist emotional reactions to short-term volatility. -
Blind investments are financial suicide
“This coin is guaranteed to go up” is one of the most dangerous phrases in investing. Jumping in without research is gambling, not investing. -
Diversify your portfolio
Don’t put everything into crypto. Consider Bitcoin and Ethereum alongside stocks, ETFs, gold, and real estate for stability. -
Master your emotions
“Be fearful when others are greedy, and greedy when others are fearful.” This quote from Sir John Templeton highlights the need to act against mass hysteria.
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| Illutration created and copyright by Drake Kim |
Not Gambling—A Lifelong Learning Process
Crypto isn’t gambling—at least, not if approached correctly. Instead of getting caught in short-term market swings, adopt a long-term mindset, keep learning, and make informed decisions.
Most importantly, never let financial losses ruin your life. Money can be earned back, but a shattered mindset and broken life are much harder to repair. The market will always be there—the real question is how you choose to participate.
Make better choices next time, and may this article be a small help to you.
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