Why do most people refuse to exit the cryptocurrency market even though they know it's unfair? 1. Sunken cost: I have already lost too much and am unwilling to leave The psychological rhetoric is: "I've already lost 500000 yuan, am I giving up now? Maybe I'll turn the tide in the next bull market This is a typical "gambling mentality"+"sunk cost trap". The most fearful thing in human nature is to admit one's mistake and to be afraid of losing out. Leaving means admitting failure, which is harder to accept than continuing to lose. 2. Pleasure addiction: The "wave stimulation" and "fantasy of sudden wealth" brought by the cryptocurrency circle are very addictive The cryptocurrency market experiences intense fluctuations and dopamine release, resembling a financial casino that can easily become addictive. Many people are not actually "investing", but "seeking excitement". Every rebound and pullback gives them the illusion of 'I can definitely catch it this time'. 3. Social binding and circle dilemma Their friends, groups, and social media accounts are all in the cryptocurrency circle. Human nature tends to conform to the crowd and is unwilling to become the antagonist. 4. The "illusion of circle identity" created by KOLs and media A large number of cryptocurrency KOLs create narratives every day: "If you quit now, you'll miss the next Bitcoin They guide retail investors with the posture of "steadfast believers": "If you can't hold it, you don't understand the future This kind of mental kidnapping causes many people to have the illusion that 'if I leave now, it would be wrong'.