Why do many people in the crypto world keep losing money regardless of how they play???

Many believe that making money through investment depends on correctly judging the trend, but the underlying logic is just one sentence: humans are naturally drawn to comfort, and the market specifically harvests this comfort.
Here's a simple example. Suppose you believe Bitcoin will reach $200,000 by 2029, and it's currently over $60,000. In three or four years, it could double or triple, and the numbers add up clearly. But the problem isn't the math; it's whether you can withstand the process. If it drops to $40,000, $30,000, or even halves, can you still stay as firm as you initially said? Most people can't. It's not a lack of understanding; it's human nature that can't get past it.
During a bear market, everyone is afraid. Afraid it will keep falling, afraid they bought too early, afraid they won't catch the bottom. They say they are long-term optimistic, but when prices really drop, their hands tremble. When it finally rises again, news starts hyping, social circles begin sharing gains, and they dare to buy. This isn't because they understand the trend; it's because their fear has disappeared and greed has taken over. The result is often buying at the hottest emotional moment.
There are also people who, when prices fall, are afraid but have already thought it through: they buy and hold, not expecting to get rich quickly, nor fantasizing about catching the bottom. They know it will be uncomfortable, but they buy in batches. This action is inherently against human nature—taking action when it's most uncomfortable. Often, the real profit-makers are those willing to endure uncertainty during downturns.
But note, buying at a low point doesn't necessarily mean you're right. There are also people who rush in during a dip, shouting "bottom fishing," even leverage up, sell their houses and cars, and go all-in. They seem brave, but inside, they are greedy—thinking it's cheap, believing they are smarter than others, or that this is a chance to get rich. They aren't truly risking; they are gambling on huge profits. When the market fluctuates slightly, they run faster than anyone else. In the end, they often exit emotionally.
The same applies to a bull market. When prices are rising, most people feel great, their accounts hit new highs every day, and they feel invincible. So they add to positions, leverage up, chase hot trends. The more they earn, the more excited they become, and the more aggressive they get. Eventually, a pullback wipes out profits or even the principal. Because they are following their desires—buying more aggressively as the market gets more exciting.
Those who truly survive a bull market are actually those who become more cautious as prices rise. When they see the increase, they don't get excited; they get nervous. They understand that the higher it goes, the greater the risk. When others are greedy, they start controlling their positions or gradually taking profits. They accept missing the last surge without chasing it. This behavior is also against human nature—cooling down when things are hottest.
For example, those who invest regularly. When the market falls, they feel uncomfortable; when it rises, they feel uncomfortable too—because their holdings become more expensive. They aren't trying to top-tick or escape at the peak; they just follow their routine mechanically. To outsiders, it looks calm, but every step is a battle against emotion.
Ultimately, how does the market share long-term? It transfers "comfortable money" to "people who are uncomfortable." If your trading feels especially good, you're likely following your emotions; if it's very tense and difficult but based on clear logic, you're actually closer to the right side.
Many people are obsessed with technical indicators and trading models, but these are just tools. The real core is: do you know when you're acting out of fear and when out of greed? What are you afraid of? Drawdowns? Missing out? What are you greedy for? Huge profits? Others' gains you don't have?
Only when you start distinguishing that "the current profit" might be a future trap, and "the present harm" could be long-term gains, are you truly entering the market. Otherwise, there's a very ironic situation—initially, you know nothing and accidentally make money; later, thinking you understand, you chase more certain and comfortable opportunities, only to give all your gains back. People call this luck, but in reality, it's a phase of standing against emotion.
There is no mysticism in investing. Simply put, it's about enduring discomfort when necessary and staying calm when excited. Those who can do this long-term are not earning from the market itself, but from human nature. #币圈生存指南