It's not bad luck, making money has three levels: The first level is earning from the knowledge gap. Many old-timers around me went all-in on AI stocks years ago, just like Bitcoin OGs. The second level is earning from common sense, like Buffett picking stable performers. This kind of earning is slower. The third level is earning from emotions, which has little to do with business fundamentals. Most people in the crypto space fall into this category—early birds cutting the latecomers. When emotions peak and no new people keep entering, it collapses