Yeah, leveraging will be the undoing of it all.
Look at the quick flash crash in crypto’s tonight. Elon makes some comments, the entire market heads down, then the whales flash crash it to liquidate all the idiots who were 10x leveraged long.
Newbies panic sell, stops get triggered And then the whales come back in (probably including Elon) and scoop up all the bargains for the next run.
Wash, rinse, repeat.