The dream of getting rich in a bull market is shattered, and altcoins are quietly being legally harvested. Recently, I chatted with a few veteran traders who once made over 10 million in spot trading profits, and we came to a brutal consensus: in this cycle, the slaughter of altcoins is even harsher than contracts. Back then: Hold onto your spot positions in a bull market, and 10x gains were easy! Now: Halved, then halved again. Sideways = zero. When liquidity dries up, you can’t even find a counterparty to cut your losses. Many people are still clinging to the illusion of value investing, only to slowly bleed out during the unnoticed downtrend. By the time they realize it, their principal has already been eaten away—this kind of despair is even more torturous than getting liquidated on contracts. Being trapped in a slow, boiling pot will drain even your last bit of capital to turn things around. Newbies and beginners, absolutely stay away from contracts! Until you’ve learned the market’s temperament with real money, contracts are a shortcut to bankruptcy. You might even want to stay away from this market altogether! Without a strong heart, 99% of people simply aren’t cut out for this.