#加密货币监管 Seeing this GameStop case, I am reminded of an experience from many years ago involving a friend. He invested 5 million all at once in an asset that seemed "promising," only to experience a rollercoaster of unrealized gains turning into losses within just a few months—going from an unrealized profit of 19 million to nearly breaking even. The psychological pressure of that situation is hard for many to imagine without having gone through it.

The story of GameStop actually teaches us the same principle: even for large publicly traded companies, even when following the "smart money" trend, once you concentrate your bets on a highly volatile asset, you will inevitably face intense market fluctuations. During the sharp decline from the peak last year to October, dropping 30%, $19 billion in leveraged positions were forcibly liquidated. Behind this are countless stories of "I thought I could hold on."

What I want to especially emphasize is that position management is not about being overly conservative or passive, but about responsible rationality. No matter how many voices outside promote "light regulation" or "new opportunities," we should always ask ourselves: if this investment loses 50%, can I still sleep peacefully? If you can bear it, allocate accordingly; if not, stay away. The most dangerous thing for a long-term mindset is not the volatility itself, but being forced to make decisions at the worst moments.

Maintaining a safety bottom line is the key to going further.