When you step into the crypto community, you'll find that most well-known KOLs are actually doing four things repeatedly: promoting referral programs, selling various training courses, spreading market sentiment, and promising their fans what "certain returns" mean.

The underlying business logic couldn't be clearer. These people don't care whether you can achieve long-term stable profits; their real goal is only one—making you trade frequently so they can continuously earn commissions from the spread.

Therefore, every time the market fluctuates, you'll see them shouting signals in major channels: "Must rise! Guaranteed profit!" Their voices are urgent, their intensity fierce, flooding the channels with FOMO anxiety—aiming to trigger your irrational decisions and make you blindly open positions.

The full-market crash on October 11th taught everyone a profound lesson. Every major pitfall essentially is tailored for participants who have no risk management awareness. In this market, the true differentiation among retail investors occurs in two stages: the first is who can protect their principal from being wiped out during volatility; the second is who can truly reap the benefits when the main upward wave arrives.

Opportunities are always reserved for those who are prepared. If you can thoroughly understand these logics, your perception of the crypto world will elevate to another level.