Paper Millionaires: Why Many Profits Exist Only on Paper
In this article you will learn:
- Why million-dollar profits in bull runs often only exist on paper
- What psychological mechanisms are behind this
- What strategies help against this
The crypto market thrives on stories that sound like modern-day fairy tales: Someone buys early, perseveres, and suddenly a small investment turns into a fortune of millions. These stories spread like wildfire on social media, fueling FOMO and attracting ever new investors to the market.
But what's often forgotten is that many of these profits exist only on paper. They're temporary numbers on the screen that ultimately don't materialize. As soon as the market turns, they disappear just as quickly as they appeared. “Crypto millionaires” thus become normal earners overnight. They're also referred to as “paper millionaires.”
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