This is not a coincidence, but the result of the combined effects of the "information dissemination mechanism + human nature + capital cycle."

From the perspectives of institutional investment, media mechanisms, and capital behavior, I will systematically break down why this phenomenon repeatedly occurs and why it is almost "inevitable."

1. First, a core conclusion (very important):

Low positions = creating fear, high positions = creating greed.
Media and platforms are not here to "guide you to make money," but to "amplify your emotions."

And retail investors losing money essentially means they are being led by their emotions.

2. Why are there "risk warnings" everywhere during "low positions"?

1️⃣ Emotional supply: Fear sells best at lows

Stock market lows are usually accompanied by:
• Continuous declines
• Many retail investors trapped
• Account unrealized losses, fragile emotions

At this time, what content resonates most?

Not "bottom-fishing opportunities," but:
• "A-shares are too risky"
• "Another batch of investors being harvested"
• "Never trade stocks"
• "Stock market risks outweigh rewards"

📌 Platform algorithms recognize only one thing: whether you click, whether you finish reading, whether you comment.

Fear-related content has extremely high click-through rates at lows.

2️⃣ Actual capital behavior: During the bottom phase, "no one dares to buy"

From an institutional perspective:
• The bottom is a building phase
• The biggest fear is not bad news
• The biggest fear is retail investor sentiment being overly optimistic

So you'll find:
• Almost no "get-rich stories" at lows
• Hardly anyone calls for a bull market
• Influencers are generally cautious, pessimistic, and bearish

Because if everyone is bullish, it’s no longer the bottom.

3️⃣ Media's "disclaimer mentality"

When bullish at lows, if prices continue to fall:
• Easily accused of "misleading"
• Easily flagged by platform risk controls
• Easily reported

Therefore, media at lows prefer to "warn of risks"
This is the safest, least error-prone stance.

3. Why are there suddenly "10x, 20x" stories everywhere during "high positions"?

1️⃣ Greed sells best at highs

When the market reaches high levels:
• Major indices rise
• Individual stocks surge
• People around you start making money
• You begin to feel "missed out anxiety"

What content is most likely to make you click?
• "A certain stock has increased 20 times in 3 years"
• "He achieved financial freedom with this stock"
• "Missed out once, don’t miss out again this time"

📌 These contents essentially "stimulate you to enter the market."

2️⃣ Amplification effect of platform algorithms (very critical)

Platforms do not know whether the market is high or low; they only know:
• You stay longer on "money-making stories"
• You are more likely to click on "get-rich content" when prices are rising

So the algorithm will keep pushing you:

Doubling → Tenfold → Twentyfold → Hundredfold

Creating an information cocoon + emotional accelerators.

⸻

3️⃣ Capital structure: High positions require "catchers"

What do institutions need most at high levels?

They need enough "believers in the story."

And stories of "10x, 20x" returns serve three purposes:
1. Make you believe "it can still go up"
2. Make you ignore valuation and risk
3. Make you think "if you don’t get in now, it’s too late"

📌 Retail investors' entry often acts as the "fuel" for the trend, and also its "end point."

⸻

4. What you see is actually an "emotional pendulum"

You can understand the market and information as a cycle:

Extreme pessimism (bottom)
↓
Risk warnings, discouraging trading
↓
No one dares to buy
↓
Institutions quietly build positions
↓
Market starts to move
↓
Profit-making effects appear
↓
Myth of doubling screens
↓
Everyone bullish (top)
↓
Retail investors flood in
↓
Risks begin to accumulate
↓
Decline
↓
Back to "risks are high"

🔁 This cycle exists in A-shares, US stocks, and the crypto world.

⸻

5. The people who actually make money tend to "go against the flow of information"

You will find:
• At lows, they ignore news, only watch prices and volume
• At highs, they actively avoid "get-rich stories"

Truly mature investors tend to:
• At lows: the more pessimistic the news, the calmer they are and the more they research
• At highs: the more optimistic the stories, the more cautious they become

⸻

6. Here are 3 "counter-human nature" practical principles (very valuable)

✅ 1️⃣ When "risk warnings" flood the screen, don’t rush to agree

First ask:
"Who is most afraid to buy now?"

If the answer is: the majority
Then you should at least start observing opportunities, not exiting the market.

⸻

✅ 2️⃣ When "10x returns" start appearing intensively, reduce your holdings first

Not implying an imminent top, but:
• The odds are decreasing
• The risks are increasing

Even if prices continue to rise, you are already on the relatively safer side.

⸻

✅ 3️⃣ Treat "information" as a contrarian indicator, not a decision basis
• News ≠ Truth
• Popularity ≠ Value
• Stories ≠ Returns

📌 Price + volume + capital behavior are always more real than short videos.

One last important message for you:

The market is not here to educate you, but to "test whether you can control your emotions."
Most people lose not because they lack technical knowledge, but because they "believe when they should doubt, doubt when they should believe."