Why do most people end up losing money in market conditions like ORDI? To put it simply, the habit of chasing highs and selling lows is amplified infinitely during a bull market.

Look around at people posting their daily profit screenshots; it makes you envious and afraid of missing out on that wave of wealth. When the market rises to the halfway point or even near the top, they finally can't resist entering the market. At that time, they still think it will keep going up, but within a couple of days, a pullback occurs, and their accounts instantly turn green. At this point, panic sets in—others are selling, so they hurriedly cut losses and run. This is a typical chase-the-highs and sell-the-lows cycle.

Even more heartbreaking is that many people go back and forth like this during a bull market. After cutting losses and losing money, they see the market rise again after a few days and can't help but jump back in, repeatedly getting cut by the market. Some even believe the bull market will never end, borrowing money, leveraging, and going all-in. Once the trend reverses, the losses can be so severe that they become unbearable.

During a bull market, greed easily clouds judgment. People only see the percentage increase right in front of their eyes, completely ignoring valuation and real risks. The frequency of chasing highs and selling lows is even higher than in a bear market, resulting in even worse losses. This isn't an issue unique to ORDI; it's a recurring tragedy across the entire market.