When Bitcoin hits $100,000, many people realize that their gains have already been locked in.

Those who entered at $85,000 only earned 17.6% at $100,000; those who bought at $90,000 only made an 11.1% profit; and those who dared to build positions at $94,000 only gained 6.4%.

It looks pretty good, but the problem is—most people never get to see that confirmation moment. The longer they wait, the more their mindset collapses, and the profit and loss ratio gradually evaporates over time.

What’s even more heartbreaking is the small calculation in retail investors’ minds: $100,000? That’s just the appetizer. $120,000, $150,000 are just around the corner. This illusion can be deadly.

In fact, history has long told us that those impressive integer milestones and psychological barriers are often not the starting points of a new trend, but rather the punctuation marks of the previous rally. Many people, holding onto the mindset of "there’s more to come," watch their profits shrink and eventually can’t even protect their principal.