Why are so many people still rushing into the cryptocurrency market despite knowing it is full of traps?

Honestly, it's because they are mesmerized by the illusion of getting rich overnight.

Stories of tenfold or hundredfold increases are everywhere—buying a house with Dogecoin, a certain altcoin soaring dozens of times. These news stories spread rapidly, making earning money in the crypto world seem as easy as falling rain. But no one dares to tell you: these lucky ones only account for 0.01%, while the remaining 99.99% have long lost everything.

Getting rich quickly has never been the norm in this market; it’s just survivor bias at play.

LUNA soared from $0.1 to a peak of $100, only to crash back to $0.0001, evaporating the money of 2 million investors; after PEPE surged 3000%, 90% of those following the trend ended up losing more than 70%; even more outrageous is SQUID, which went from $1 to over $2800, then zeroed out in one second—these cases clearly reveal the truth: betting on luck to get rich usually ends in total loss.

Most people don’t make money, and the reasons are quite clear. Market volatility is intense—30% drops are common; information asymmetry is severe—when whales control the market, good news is often just a smoke screen before a harvest; policies are unpredictable—regulatory moves can completely dry up the liquidity of a certain coin.

However, ordinary people still have opportunities. The key is to change your approach—use your brain and strategies to make money, rather than relying solely on blind luck.

Those investors who survive full market cycles generally do the following:

First, identify sectors with real application prospects and stick to them, such as DeFi, Layer2, RWA—areas building genuine ecosystems—and get in early.

Second, treat risk control seriously—don’t use your life savings to trade; diversify your funds; build positions with a cyclical mindset; avoid chasing high prices.

Third, learn to wait and be patient—just like starting to dollar-cost average ETH at the lows in 2020, which yielded over 400% in three years.

The cryptocurrency market indeed offers the possibility of getting rich quickly, but don’t pursue wealth itself as a goal. Instead, see it as a high-volatility investment market, and use accumulated knowledge to navigate it. Only then can you go far.