People who invest without leverage will win someday, because those people holds real coin or crypto.
And, those who trades on binance or bybit with leverage will get liquidated. Just like forex!!
It is not all traders who will lose their money. Despite how hard trading is, there are still some traders who make reasonable profits from time to time. Those I believe will be liquidated are the ones who don't have good knowledge about trading. Once someone is skilled and has proper knowledge of trading, they will not just end up losing money.
Yes, if I may say, investing in reputable coins is the best way out of crypto. We can actually compare the rate at which people make profits from investments to trading. Once someone holds a reputable coin for a long period, it will surely yield reasonable returns in the future.
However, the truth is that even in investment, some people also lose money. But they are just a few, and they are often those who invest in coins that don’t have a good foundation. Trying to hold such coins for the long term can lead to losses because some projects might perform well for a few months but end badly since they are not fundamentally strong.