312, I’ve seen Bitcoin crash by over -50% And witnessed the most extreme moments when Bitcoin, priced at just a few thousand dollars per coin, swung back and forth between $2,000 and $3,000. Back then, it was even more volatile than altcoins. Basically, all liquidity was wiped out, and there was zero buying interest from bulls. In that few-thousand-dollar range, there were no orders on the order book at all... So, if you bought Bitcoin at $6,000 with $100, you might only be able to sell it at $3,000 (just an example). This time, altcoins saw their liquidity completely drained due to the crash. Some market makers even actively pulled liquidity, making the situation worse. Honestly, even if the exchange doesn’t go down, the price you can trade at is still super unfavorable for you. The sell-off causes liquidity to dry up, and no one’s willing to take your tokens... At least you’d still have the choice to act, but if the exchange crashes, you’re left to fate. After experiencing those extreme market conditions, I’ve always stuck to isolated margin mode. Anyway, it’s all painful lessons learned from losses. This market has plenty of opportunities, but if your principal is gone, it’s really gone...