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Crypto is rigged to lure people in search of a quick buck... They buy the top and when it sells off and everyone is running for the doors exchanges crash... Or on the flipside when you try to buy the crash exchanges have problems processing the order. I remember the last bull run a few times it has happened. Now I buy when things go silent and front run the panic selling when BTC goes into price discovery. Everytime it hits new all time highs just moves the proverbial goal line
Disclaimer: got a full bag of tether for the capitulation
skrtluv
To expand a bit:
If I buy a shitcoin for £1 and it goes up to £1m, whilst I have a notional gain of £999,999, I have only risked £1 so I can only lose up to £1.
If shitcoin goes to zero, I have made a notional loss of £1m but I'm only £1 down on the trade.
Did the £999,999 ever exist? If I had got out at the top, and sold my shitcoin for £1m, then yeah it does exist and someone else is nursing a £1m loss. If I held from £1 all the way down to zero then it's arguable that the £999,999 never existed.
With a volatile "asset" like crypto, not everyone can get out at the top as the act of selling will quickly reduce the value.