$BNB ‌ Disenchant every coin. In February this year, I believed in BNB and ended up heavily over-allocating to it, because it lost 100,000.

Because I believed it was the world’s largest exchange, because I believed it was a platform token! It made me develop real faith in it!
Including BTC, ETH—whether mainstream coins or altcoins—at their core, they’re all a game of cutting leeks and getting liquidated from over-leverage!
The market is a constantly changing, complex function—everything shifts endlessly. Trying to predict the future with history is really foolish. It’s like noticing that over the past 20 years, China’s housing prices have multiplied by 20, which suggests future housing prices will also multiply by 20!
Most importantly, the market environment has changed. Back then, it was mainly spot trading. In recent years, all kinds of derivatives have taken off—contracts, futures—everyone is trading contracts and piling on leverage, which is why volatility is so huge now! It’s different from before!
In the past, when more people went long, prices would rise. Now it’s the opposite: when more people go long—because everyone is trading contracts—prices are falling. It’s counterintuitive!
Always remember: every cent you make is someone else’s loss. Money is made in contracts from the other side—the people getting wiped out by liquidation.
Just like society over thousands of years: basically, each dynasty only lasts a few hundred years. Every dynasty thinks it’s eternal, but in terms of time, they’re all the same.
Eventually, exchanges will shut down, and BTC and ETH will also be replaced! These black swan events might happen next year, or 5 years from now, or 10 years from now!
Always keep a sense of awe.#Gate广场五月交易分享