Recently, I’ve been feeling very deeply about trading — the entire market has really heated up. If you dare to use high leverage, expect to get liquidated; but at low leverage levels, there’s hardly any room for volatility, so you can’t really make money.

New coins are launching at lightning speed, pushing the difficulty to the max. During pump phases, it’s all tricks to lure in traders; rapid surges and crashes are so unpredictable that you can’t see clearly, and there’s not even a chance to get in. The key is that these new coins lack fundamental support; for example, some with extremely poor liquidity, after listing, see trading volumes plummet, only to keep falling, with occasional dead cat bounces before continuing to drop.

Now, most traders willing to go long on altcoins have already exited. Whether going long or short, the difficulty is right there. If you short, they use high-interest funding rates to trap you; within one or two hours, they can wipe out all your gains. It’s not like before, when rapid rises and falls happened quickly, with a very intense rhythm.

What’s even more heartbreaking is that for those coins known to be prone to dumping, you can see the risks, but their funding rates are managed so precisely that you can’t predict how long they can sustain it. Shorts are being squeezed, longs are trapped, and both sides are in pits. This is the real picture of trading in the current crypto world.