According to Cointelegraph, bitcoin security expert Andreas Antonopoulos said in an interview recently that the volatility of the encryption market stems from the small-scale and limited liquidity of the current encryption market. When it fluctuates downward, it can cause panic emotions and losses. When it appears to fluctuate upwards, it leads to signs of FOMO (fear of loss). Investors know little about the technical aspects, but some investors will try to understand the technology more throughout the cycle, creating a more solid foundation for the next cycle of users. The cyclical boom-depression model is part of the technology's behavior and is dangerous for inexperienced investors, but it also provides the funds needed to develop each stage of infrastructure and technology.